Effect of Customer Relationship Management on the Marketing Performance of First Bank Nigeria Plc, Aba, Abia State, Nigeria (Published)
This study examined the relationship between Customer Relationship Management (CRM) practices and their effects on customer satisfaction, retention, loyalty and competitive advantage within First Bank Nigeria plc, Aba, Abia State, Nigeria. Utilizing a quantitative approach, data were collected through structured questionnaire distributed to staff of First Bank Nigeria plc, Aba, Abia State, Nigeria. Descriptive statistics was used to summarize the data, while inferential statistics (such as Anova) was employed to examine the relationships between CRM practices and marketing performance indicators. The findings revealed a significant positive relationship between effective customer relationship management practices and customer satisfaction, evidenced by a strong acceptance of customer relationship management initiatives among respondents. Additionally, results indicated that CRM practices contribute to higher customer retention and foster loyalty, thereby enhancing the bank’s competitive position in the banking sector. Statistical analysis, including ANOVA and Correlation assessment, underscores the importance of CRM as a strategic too for customer engagement. The research also highlighted the critical roles of tailored CRM practices in improving customer experiences and achieving long-term business success. We, therefore, conclude that First Bank can greatly enhance its CRM procedures and marketing success by tackling implementation issues through focused training, technological investments, and feedback mechanisms. Hence, the following recommendations are made: technical support services should be made available to employees to help them deal with system problems and ensure that they can use CRM technologies efficiently and without interruption, the bank should assess CRM processes regularly and determine how they affect marketing performance and make necessary modifications and optimizations in a timely manner, among others.
Keywords: Customer Relationship Management, Customer Satisfaction, Customer retention, Marketing Performance, customer loyalty and competitive advantage