IMPACT OF CUSTOMER RELATION MARKETING ON CUSTOMER RETENTION IN NIGERIA DEPOSIT MONEY BANKS OGBOMOSO
Abstract
This study investigates the impact of customer relationship marketing (CRM) on customer retention in Nigerian deposit money banks, with a focus on Ogbomoso. In an increasingly competitive banking environment, retaining customers has become a strategic priority for financial institutions. The study adopts a quantitative research design, using structured questionnaires administered to bank customers within Ogbomoso.
A sample size of 150 respondents was selected using simple random sampling. Data collected were analyzed using descriptive statistics and regression analysis. Findings revealed that CRM dimensions such as customer communication, service quality, trust, and commitment significantly influence customer retention. The study concludes that effective CRM practices enhance long-term customer relationships and improve loyalty.
Recommendations include improving personalized services, investing in digital customer engagement platforms, and continuous staff training to strengthen customer interactions. The study contributes to existing knowledge by providing empirical evidence from a Nigerian context.
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