IMPERATIVES OF CUSTOMER RELATIONSHIP MANAGEMENT IN NIGERIA BANKING INDUSTRY

Abstract

The current marketing emphasis has shifted from satisfying customers to building relationship through a long term value creation. The study examine the imperatives of customer relationship management motivated by the poor handling of customers complaints, lack of courtesy, poor service quality, inadequate information to the customers and long line being experienced in the banks. It ascertains the contribution of effective customer relationship management to customer loyalty and profitability or performance of the banks. The study involves a survey research around four selected banks with 600 respondents comprises of customers and personnels of the selected banks. Data collected were presented and analyzed in tables of simple percentage, and tested the two hypothesis formulated for the study using the analysis of variance (ANOVA) statistical tool to reject or
accept the Null hypothesis. Findings revealed that there is a direct relationship between customer relationship management and customer loyalty as well as banks profitability. Hence, recommended that management of banks should pursue customer relationship management programmes with rigour to achieve the business objectives of the bank.