Customer Relationship Management Strategy and Customer Patronage: Evidence from United Bank for Africa Customers in Enugu State, Nigeria
Keywords:
Customer Relationship Management (CRM), Customer Satisfaction, Customer Patronage, StrategyAbstract
This paper seeks to empirically investigate the influence of customer relationship management on customer patronage among the users of United Bank for Africa in Enugu State. CRM strategy is a game plan for how to improve the relationship between your customers and your sales, marketing and customer service teams so as to increase revenue and improve customer relationships using specific actions and technology. Commitment, trust, communication, empathy and responsiveness acted as independent variables. This study adopted survey research design and employed the use of a structured questionnaire as the research instrument. The sample of this study included 245 respondents who were customers of United Bank for Africa in Enugu state. Data was analyzed using descriptive statistics, factor analysis and multiple regressions. The data analysis technique used is path analysis. The result of this study indicated that the coefficient of determination was .714 which meant 71.4% of customer loyalty was influenced by CRM and customer satisfaction with a significance value of F (0,000) < α 0,05. This indicated that the effect of CRM on customer satisfaction was significant, the effect of satisfaction on customer loyalty was significant, and the effect of CRM on customer patronage was significant.
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