An investigation of customer relationship management innovations on loyalty in banking: a case study of Sterling Bank
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Background of the Study
Customer Relationship Management (CRM) innovations are pivotal in shaping customer loyalty and long-term engagement in the competitive banking industry. Sterling Bank has implemented advanced CRM solutions that integrate digital data analytics, personalized marketing, and omni-channel communication to enhance customer interactions (Adebayo, 2023). These innovations aim to provide tailored services, resolve issues promptly, and build lasting relationships that foster customer loyalty. The theoretical framework is grounded in relationship marketing and service quality theories, which emphasize that consistent and personalized customer experiences lead to higher levels of loyalty and retention (Okonkwo, 2024).
By leveraging CRM innovations, Sterling Bank is able to segment its customer base effectively, enabling the delivery of customized offers and proactive customer support. The integration of real-time feedback systems and predictive analytics further enhances the bank’s ability to anticipate customer needs and address potential issues before they escalate. Empirical studies have shown that banks with robust CRM systems tend to enjoy increased customer satisfaction and lower attrition rates (Ike, 2025). Despite these promising advancements, challenges such as data integration complexities and resistance to change among staff persist. This study evaluates the impact of CRM innovations on customer loyalty at Sterling Bank, providing insights into best practices and areas requiring further improvement.
Statement of the Problem
Despite significant investments in CRM innovations, Sterling Bank continues to encounter issues that impede the full realization of customer loyalty. Some customers report inconsistencies in service quality and delayed responses, which undermine the benefits of personalized CRM initiatives (Olu, 2023). Moreover, challenges in integrating new CRM systems with legacy databases result in fragmented customer profiles, affecting the bank’s ability to deliver a seamless experience. Resistance to new technology among certain segments of staff further exacerbates these issues, leading to suboptimal utilization of advanced CRM tools. This gap between the potential of CRM innovations and actual customer loyalty outcomes necessitates a detailed investigation to identify operational bottlenecks and propose targeted improvements (Chinwe, 2025).
Objectives of the Study
To investigate the impact of CRM innovations on customer loyalty at Sterling Bank.
To identify operational challenges hindering effective CRM implementation.
To recommend strategies for enhancing CRM systems to boost customer loyalty.
Research Questions
How do CRM innovations influence customer loyalty at Sterling Bank?
What operational challenges affect the effective use of CRM tools?
How can CRM systems be optimized to improve customer loyalty?
Research Hypotheses
CRM innovations are positively correlated with increased customer loyalty.
Data integration issues negatively impact the effectiveness of CRM systems.
Improved staff training enhances the benefits of CRM innovations on loyalty.
Scope and Limitations of the Study
This study focuses on Sterling Bank’s CRM practices over the past two years. Limitations include potential biases in customer feedback and challenges in isolating CRM effects from other service factors.
Definitions of Terms
• Customer Relationship Management (CRM) Innovations: Advanced technologies and strategies implemented to enhance customer interactions.
• Customer Loyalty: The degree to which customers remain committed to a bank’s services over time.
• Omni-channel Communication: Integrated communication across multiple platforms providing a seamless customer experience.
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