CUSTOMER RELATIONSHIP MANAGEMENT AND MARKET PERFORMANCE OF DEPOSIT MONEY BANKS

Abstract

This study examined the effect of customer relationship management on the marketing performance of Nigerian banks with particular reference to First Bank Nig. Ple. The study specifically examined; the effect of customer orientation on the market share of First Bank Nigeria, the nature of the relationship between customer service and customer satisfaction of First Bank Nigeria, the effect of customer perceptions on customer retention of First Bank Nigeria and the relationship between collaborative customer relationship and sales returns of First Bank Nigeria. Data for the study were sourced through primary and secondary sources of data collection. The population of this study was made up of 125 emplovees of First Bank Nigeria in Enugu metropolis. A sample size of 95 was determined using Taro Yamane statistical formula. Data collected were analysed using tables and percentages with the help of SPSS statistical software. Hypotheses raised were tested using Pearson Correlation tool. Result of the analysis shows that Customer orientation has significant effect on market share of First Bank Nigeria. It was also found out that customer service has significant relationship with the customer satisfaction of First Bank Nigeria. The study further shows that customer perception has significant effect on customer retention of First Bank Nigeria. It was equally discovered that collaborative customer relationship has significant relationship with sales returns of First Bank Nigeria. Based on the findings above, the study recommends among others that the banks in Nigeria needs to greatly improve on the practice of Customer Relationship Management, as a new marketing paradigm to outwit competitors in the battle for the acquisition and retention of the highly controversial, informed and most profitable customers. The banks should emphasize the nurturing of a sound CRM orientation if they are to benefit fully from very important increased marketing performance rates.