IIARD International Institute of Academic Research and Development

IIARD International Journal of Economics and Business Management (IJEBM )

E-ISSN 2489-0065
P-ISSN 2695-186X
VOL. 4 NO. 1 2018

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Place of Customer Relationship Management in Enhancing Customer Satisfaction in the Banking Industry

Oyelude, O. O. and Fadun, T. A.

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Abstract

There is a need for every organization to have special abilities in satisfying customers; hence, the broad aim of the study is to evaluate the effect of customer relationship management on customer satisfaction among Old generation bank. The study adopted both the primary and secondary sources of data; hence a well-structured questionnaire was used to collect data. Random sampling technique was adopted to select four States in South- West Nigeria namely Oyo, Ogun, Osun and Ekiti State, with five local governments areas selected in each state and in each local government five respondents were also randomly selected. Quantitative approaches were adopted and data was analyzed using descriptive statistics, Analysis of Variance (ANOVA) and Cross Tab. The major findings from the study showed that the relationship between Customer Satisfaction and CRM elements were all positive. Service quality (r= 0.4410, p< 0.0010), service access (r= 0.4250,p < 0.0010) and service feature (r= 0.3560, p < 0.0010) all showed a strong significant correlation with customer satisfaction. There exists a statistical significant difference between satisfied customers and non-satisfied customers on all identified CRM elements. Likelihood Ratio (LR= 255.971, p = 0.0000) and Linear Association (LLA = 40.288, p = 0.0000): were statistically significant. Also, inconsistent network availability was ranked 1st. from some challenges facing CRM services in this old generation bank Therefore, this study concludes that good customer relationship management is very germane in ensuring customers satisfaction in the banking industry

keywords:

Customer relationship Management, Customers Satisfaction, Banking Industry

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