This paper examines the effect of consumer relationship management (crm) on employee’s performance in the banking sectors, Lagos. The research addresses the major problem associated with the adoption of customer relationship management by Nigerian banks which eventually exposes banks and customers to intense competition.
The study was carried out in Ojo Local Government Area of Lagos State, Nigeria and it was targeted a population of 150 employees and customers of selected banks. Survey research method was used and data from the study were drawn from both primary and secondary sources. A sample size comprising 50 employees and customers were selected using stratified sampling technique and random sampling techniques. Quantitative data from the study was analyzed through descriptive statistics.
Table of Contents
1. Introduction
1.1 Introduction
1.2 Statement of the Problem
1.3 Objectives of the Study
1.4 Resarch Questions
1.5 Hypotheses
1.6 Significance of the Study
1.7 Scope of the Study
1.8 Definition of Terms
2. Literature Review
2.1 Introduction of the Chapter
2.2 Conceptual Framework
2.3 Theoretical Framework of the Study
2.4 Emperical Review
2.5 Summary of the Chapter
3. Research Methodology
3.1 Introduction
3.2 Research Design
3.3 Population of the Study
3.4 Sampling and Sample Technique
3.5 Instrument/Method of Data Collection Validation
3.6 Method of Data Analysis
3.7 Limitation of the Study
3.8 Summary of the Chapter
4. Data Presentation and Analysis
4.1 Introduction
4.2 Presentation and Analysis
4.3 Test of Hypothesis
4.4 Discussion of Findings
5. Conclusion and Recommendation
5.1 Conclusion
5.2 Suggestion for Futher Study
5.3 Recommendations
Research Objectives and Key Topics
This study investigates the impact of customer relationship management (CRM) on employee performance within the banking sector in Lagos, Nigeria, aiming to understand how relationship strategies influence customer retention, satisfaction, and overall bank profitability.
- Analysis of CRM applicability in the Nigerian banking industry.
- Evaluation of the link between CRM techniques and organizational profitability.
- Assessment of the correlation between customer retention and market share growth.
- Identification of gaps in service delivery and customer interaction strategies.
Excerpt from the Book
1.1 INTRODUCTION
Banking industry is an important sector in the business world which has a growing impact on all other sectors of the economy because of financial services provisions. In this volatile situation financial institutions were not left out as they are seriously affected by the level of competition both locally and internationally.
The banking industry environment today is highly volatile; Nigerian banks therefore needs to develop effective technique to enhance the interaction of customers and the bank staff. The complexity in the banking industry has made bank managers to focus on how to create close affiliation with their customers. No wonder why Nigeria banks now create a separate department in the bank known as customers care unit to address customer issues and complaint in order to ensure that customers get value for their money thereby enhancing customer loyalty, building and maintaining customer’s cordial relationship in order to achieve an advantage that can lead to customer retention and increase profitability.
Furthermore, loyal customers can provide the foundation for growth which leads to competitiveness in the industry. Also, the belief that relationship management (RM) investment builds stronger, more trusting customers relationship (Morgan and Hunt, 2014) and improves financial performance (Schroder and Lacobulli 2021) has led to massive spending on customer relationship programme.
Summary of Chapters
1. Introduction: Outlines the significance of the banking sector, the competitive landscape, and the research objectives regarding CRM implementation in Nigerian banks.
2. Literature Review: Synthesizes existing definitions and theoretical perspectives on CRM, emphasizing its role in fostering customer trust, satisfaction, and long-term loyalty.
3. Research Methodology: Details the survey-based research design, sampling techniques, and data collection methods utilized to assess banking employees and customers in Lagos.
4. Data Presentation and Analysis: Presents empirical findings using Chi-square analysis to validate hypotheses concerning the relationship between CRM, profitability, and customer retention.
5. Conclusion and Recommendation: Summarizes the study's conclusions, suggesting that effective CRM and professional staff training are critical for improving bank performance and market share.
Keywords
Customer relationship management, banking sector, employee performance, competition, profitability, customer retention, customer satisfaction, market share, service delivery, Nigeria, CRM strategies, bank management, consumer loyalty, financial performance, urban development.
Frequently Asked Questions
What is the primary focus of this research paper?
The paper examines how customer relationship management (CRM) affects employee performance and organizational outcomes in the banking sector of Lagos, Nigeria.
Which central themes are discussed throughout the study?
Key themes include the competitive dynamics of the Nigerian banking industry, the role of CRM in improving customer retention, and the link between relationship management and bank profitability.
What is the main research objective?
The primary goal is to investigate the effectiveness of CRM techniques and determine if they translate into higher customer satisfaction and increased profitability for banks.
Which scientific methodology was applied?
The study utilized a quantitative survey research design, employing random sampling and Chi-square analysis to test formulated research hypotheses.
What does the main body of the work cover?
It provides a theoretical foundation from existing literature, the methodology used for data collection in Lagos, and an empirical analysis of findings based on survey responses.
What are the characterizing keywords of this study?
Key terms include customer relationship management, banking sector, profitability, customer retention, and competitiveness.
How do bank managers in Nigeria currently view their competitors?
Managers view not only other banks as competitors, but also identify branch managers within their own institutions as competing entities due to high industry pressure.
What specific recommendation is made regarding service staff?
The study recommends hiring well-trained experts for customer service roles to address personality and professional gaps that currently hinder customer satisfaction.
What role does 'customer waiting time' play according to the research?
The researcher observed that excessive waiting times often lead to customer frustration and the loss of active clients to competing banking institutions.
- Quote paper
- Juliet Iwenya (Author), 2021, The Effect of Consumer Relationship Management (CRM) on Employees' Performance in the Banking Sectors, Lagos, Munich, GRIN Verlag, https://www.grin.com/document/1333912
