Rentention Strategy and Customer Loyalty: An Analysis of the Selected 2nd Generation Banks, Ilorin, Nigeria.
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Date
2023
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Publisher
Ilorin Journal of Administration and Development.
Abstract
This study examined the effect of retention strategies on customer satisfaction as evidenced by the
selected 2nd generation banks within the Ilorin metropolis. Two research objectives were raised to
guide the conduct of this study; (i) identify how the retention strategy (customer relationship
management) adopted by the selected 2nd generation banks enhances customer satisfaction, and (ii)
investigate the effect of the retention strategy (service quality delivery) on customer satisfaction of
the selected 2nd generation banks. The study utilized a descriptive research design and collected
data through a cross-sectional survey method. Three hundred and seventy-nine (379) validated
questionnaires were distributed to the respondents, but only three hundred and sixty-three (363)
were found usable, sorted, edited, and coded for the analysis. Findings revealed that customer
relationship management and service quality delivery have a significant effect on customer loyalty
with R2 =85.6 and 83.2 respectively. The study recommended that businesses should treat customer
loyalty as a priority and not an option. Also, adequate funding must be provided to achieve the
customer retention program
Description
Keywords
customer relationship management, quality service delivery, satisfaction
Citation
Olowo, A.A, Jimoh, A.T, Jatto, A.A, & Bello, K.A. (2023). Rentention Strategy and Customer Loyalty: An Analysis of the Selected 2nd Generation Banks, Ilorin, Nigeria. Ilorin Journal of Administration and Development. 7(1), 123-134.