Relationship Management and Customer Retention in the Banking Sector: A Case Study of Akure Metropolis, Nigeria
This paper is to study customer relationship management and customer retention in the banking sector. The specific objectives are to: determine the relationship between service quality and customer retention; investigate the relationship between technology adoption and customer retention; access the relationship between complaint handling and customer retention in the banking sector. A descriptive survey research design was adopted through the questionnaire. Customers of three selected banks: Access/Diamond bank, Guarantee trust bank and Zenith bank constituted the study population. The sample size was 300 which were selected using homogeneous purposive sampling. Primary data used for the study were gathered through a structured questionnaire. Data gathered were analyzed using the Pearson product-moment correlation. The result showed that there is the relationship between service quality and customer retention; furthermore, it showed that there is the relationship between technology adoption and customer retention and finally, it showed that there is the relationship between complaint handling and customer retention. Thus, the study concluded that customer relationship management is positively related to customer retention in Akure Metropolis.
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