Chapter One — 1.1 Background to the Study

Over the past decade, the relationship between influencer marketing and brand loyalty has become a subject of considerable debate among scholars and industry practitioners alike, particularly within the context of Selected Commercial Banks in Nigeria where operating conditions differ markedly from more developed markets.

Within the context of Selected Commercial Banks in Nigeria, this relationship carries particular significance. Organizations in this setting operate under a distinct combination of economic, regulatory, and market conditions that may amplify or dampen the effect of influencer marketing on brand loyalty, making a context-specific inquiry both timely and necessary.

1.2 Statement of the Problem

Despite a growing body of literature on influencer marketing, there remains limited consensus on the precise nature of its relationship with brand loyalty, particularly within Selected Commercial Banks in Nigeria. Many organizations continue to make decisions about influencer marketing without a clear, evidence-based understanding of how those decisions ultimately affect brand loyalty. This gap between practice and empirical understanding is the central problem this study seeks to address.

1.3 Objectives of the Study

1. To examine the effect of Influencer Marketing on brand loyalty in Selected Commercial Banks in Nigeria.
2. To assess the extent to which influencer marketing influences brand loyalty within the study area.
3. To identify the challenges associated with influencer marketing in relation to brand loyalty.
4. To recommend strategies for optimizing influencer marketing in order to improve brand loyalty.

1.4 Research Questions

1. What is the effect of influencer marketing on brand loyalty in Selected Commercial Banks in Nigeria?
2. To what extent does influencer marketing influence brand loyalty within the study area?
3. What challenges are associated with influencer marketing in relation to brand loyalty?
4. What strategies can be adopted to optimize influencer marketing in order to improve brand loyalty?

1.5 Significance of the Study

This study is significant to a range of stakeholders. For policymakers and regulators, the findings offer evidence to guide the design of frameworks that support healthier outcomes around brand loyalty. For managers and practitioners within Selected Commercial Banks in Nigeria, the study provides practical insight into how influencer marketing can be better managed. Finally, it contributes to the academic literature on marketing by extending existing knowledge into a specific empirical context, and offers a reference point for future researchers.

1.6 Scope of the Study

The study is limited to an examination of Influencer Marketing and its relationship with brand loyalty within the context of Selected Commercial Banks in Nigeria. It reflects a clearly defined scope of analysis and relies on data and perspectives available within that scope; generalizing the findings beyond this specific context should therefore be done with appropriate caution.