Customer Relationship Management as a Tool for Improving Customer Loyalty in the Banking Industry: An Empirical Study of Guaranty Trust Bank PLC Situated within the Central Business District, FCT Abuja, Nigeria

Abstract

Because of the fierce competition in the banking business, it is critical for banks to develop and maintain strong client relationships in order to achieve customer satisfaction and loyalty. As a result, in the banking industry, Customer Relationship Management (CRM) has become extremely important. As a result, the focus of this research was on CRM as a tool for increasing customer loyalty and happiness. The participants in this study are GTBank Plc clients in the FCT Abuja’s core business area. A total of 150 people were chosen at random, and data was collected via questionnaires that were self-administered by a researcher. The research revealed an important connection between customer happiness and loyalty and CRM proxies (service quality, employee conduct, customer data base, solving customer problems, physical environment and social network engagement). It was suggested that banks perform special training programs for their whole operations personnel in order to interact with clients efficiently and effectively by identifying key CRM tools in the financial business.