An Evaluation of Customer Relationship Management in Corporate Banking: A Case Study Using Questionnaire with Guaranty Trust Bank, Kano
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Background of the Study:
Customer relationship management (CRM) is a crucial component of corporate banking, focusing on building and maintaining long-term relationships with business clients. Guaranty Trust Bank in Kano has implemented advanced CRM systems that leverage data analytics and digital platforms to manage interactions with corporate customers effectively. These systems enable the bank to offer personalized services, streamline communication, and anticipate client needs, thereby enhancing satisfaction and loyalty (Ibrahim, 2024). CRM in corporate banking not only improves client retention but also drives cross-selling opportunities and overall profitability. The use of questionnaires to gather customer feedback provides valuable insights into the effectiveness of these CRM initiatives, revealing areas for improvement in service delivery and relationship management. This study evaluates the effectiveness of CRM practices at Guaranty Trust Bank by analyzing customer feedback, service quality metrics, and relationship longevity. It explores how robust CRM systems contribute to operational excellence and competitive advantage in the corporate banking sector (Okafor, 2023).
Statement of the Problem:
Despite the deployment of sophisticated CRM systems, Guaranty Trust Bank faces challenges in ensuring consistent customer satisfaction across its corporate banking division. Feedback from questionnaires indicates gaps in personalization and responsiveness that may hinder long-term client relationships.
Objectives of the Study:
• To assess the effectiveness of CRM practices in enhancing corporate customer satisfaction at Guaranty Trust Bank.
• To identify gaps in CRM implementation based on customer feedback.
• To recommend strategies to improve CRM practices in corporate banking.
Research Questions:
• How effective are current CRM practices in managing corporate client relationships at Guaranty Trust Bank?
• What are the key areas of improvement as identified by customer feedback?
• What strategies can enhance CRM effectiveness in corporate banking?
Research Hypotheses:
• H₁: Effective CRM systems significantly improve corporate customer satisfaction.
• H₂: Gaps in personalization and responsiveness negatively impact client relationships.
• H₃: Enhanced feedback integration and tailored communication strategies improve CRM outcomes.
Scope and Limitations of the Study:
The study uses questionnaires to assess CRM effectiveness at Guaranty Trust Bank in Kano. Limitations include response biases and the subjective nature of customer perceptions.
Definitions of Terms:
• Customer Relationship Management (CRM): Strategies and systems for managing interactions with customers.
• Corporate Banking: Financial services provided to business clients.
• Customer Satisfaction: The degree to which customer expectations are met.
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