Abstract
The purpose of this study was to investigate the relationship between customer relationship management and performance of microfinance banks in Akwa Ibom State. The Independence sub-variables studied were customer satisfaction, computer application of computer technology social bonding, customer retention, financial bonding and customer attraction where the dependent variable was performance of microfinance Banks. The study adopted the ex post facto research design. It was conducted in Akwa Ibom State with a population of 145 staffs and 3365 customers. The total sample size of 463 staff and customers from the 12 microfinance banks was used for the study. Purposive sampling technique was used in selecting the sample size. Researchers developed instrument that old customer relationship management and performance of microfinance Banks questionnaire was used for data collection from the respondents. The instrument was Julie validated and subjected to reliability analysis before being used for the study. The instruments where properly administered and the data obtained were analyzed using Pearson's product moment correlation as 0.05 alpha level. The findings of the study are summarised as; customer satisfaction significantly relate the performance of microfinance banks in Akwa Ibom State; there is a significant relationship between application of computer technology and performance of microfinance banks in Akwa Ibom State; social bonding relate significantly to performance of microfinance Banks in Akwa Ibom State; there is a significant relationship between financial bonding and performance of microfinance Banks; customers attraction relate significantly the performance of microfinance Banks in Akwa Ibom State.Thus, it was concluded that customer relationship management contribute to performance of microfinance bank in Akwa Ibom State. Based on the findings, the study recommended that microfinance institutions should adopt and implement customer satisfaction practices low interest rates on loan good interest rates on investment and loans without collateral in order to enhance and maintain their performance. This is because today's customers are more sophisticated and more demanding than ever; thus, reacting urgently to customers demand is necessary for success of microfinance institutions.
Keywords
Customer Retention, Customer Satisfaction, Computer Technology, Social Bonding, Customer Retention, Financial Bonding and Customer Attraction
Citations
IRE Journals:
Ediongsenyene Francis AKPAN
"Customer Relationship Management and Performance of Microfinance Banks in Akwa Ibom State" Iconic Research And Engineering Journals Volume 7 Issue 3 2023 Page 214-235
IEEE:
Ediongsenyene Francis AKPAN
"Customer Relationship Management and Performance of Microfinance Banks in Akwa Ibom State" Iconic Research And Engineering Journals, 7(3)
About IRE Journals
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