Relationship marketing challenges in the Turkish banking industry: an exploratory study

Purpose: This exploratory research, designed with a grounded theory method, was conducted to reveal the current relationship marketing challenges and strategies in retail banking in an emerging economy, namely, Türkiye. Design/methodology/approach: The data were collected through semi-structured interviews with 25 bankers and then analyzed with a qualitative approach. Findings: The research findings highlight four main challenges for relationship marketing in retail banking industry: omnichannel approach powered by digital transformation, artificial intelligence, new customer experience, and the expansion of financial services ecosystem. Originality/value: Our research identifies new challenges in the field of relationship marketing, especially regarding strategies in the post Covid-19 pandemic era, specifically from the bank employees’ points-of-view.