THE INFLUENCE OF CUSTOMER RELATIONSHIP MANAGEMENT ON CUSTOMER RETENTION AMONG EMPLOYEES IN SELECTED INSTITUTIONS IN BLANTYRE CITY, MALAWI
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The present study was done to assess the influence of customer relationship management on customer retention in the banking sector in Blantyre city Malawi. The study used descriptive correlational study design in which four banks and four institutions that pay their employees through the selected banks were purposively chosen to participate. The study designed four research questions and acquired the data using a questionnaire of a four-point scale, analyzed using descriptive statistics, correlation and regression so as to find solutions to the problems expressed in research questions. The study used a relationship quality theory in trying to establish the significance of a relationship between the two variables. The findings of this study stipulate that, banks in Blantyre city portray good customer orientation, possess good customer knowledge management, and the customer relationship management organization is good. In general rating, participants agreed that banks are up to date in their technology and have a good customer retention. There was a statistically significant positive relationship between customer retention and customer orientation, customer knowledge management, customer relationship management organization, and technology. Technology was also found to be the best predictor of customer relationship management. In view of the findings, the researcher recommends that banks involve their customers in decision making as this was ranked low amongst respondents. Banks should also learn to value feedback as this would encourage customers to contribute to the betterment of the banks products and services. Malawian banks should learn to appreciate loyalty with gifts as this was also ranked low on customer orientation.
- SCHOOL OF BUSINESS