Assessment of Customers’ Relationship Management Practices on Customer Retention and Loyalty of Oromia Credit and Saving Share Company: Bule Hora City Branch

The main objective of this study was to assess customers’ relationship management practices of Oromia Credit and Saving Share Company, Bule Hora city branch in Bule Hora, Ethiopia. Customer relationship management (CRM) as a strategy has gained tremendous interest among researchers and practitioners...

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Bibliographic Details
Published in:Advances in operations research 2021, Vol.2021, p.1-9
Main Authors: Chikako, Teshita Uke, Hamu, Gemedi Tesfaye
Format: Article
Language:English
Subjects:
Behavior
Brand loyalty
Customer relationship management
Customer retention
Customer satisfaction
Customer services
Data analysis
Empathy
Financial institutions
Knowledge management
Microfinance
Operations research
Questionnaires
Random sampling
Sampling methods
Statistical analysis
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Summary:The main objective of this study was to assess customers’ relationship management practices of Oromia Credit and Saving Share Company, Bule Hora city branch in Bule Hora, Ethiopia. Customer relationship management (CRM) as a strategy has gained tremendous interest among researchers and practitioners in recent times. Thus, this study tried to assess the status and ways CRM has been put in for practice by Oromia Credit and Saving Share Company (OCSSCO). In addition, this study considers different CRM dimensions such as empathy, bonding and satisfaction, and responsiveness. To achieve the objective of the study, primary data were collected through a questionnaire from a sample of 246 Oromia Credit and Saving Share Company customers of Bule Hora city branch, Bule Hora, Ethiopia, by using simple random sampling technique. The data collected through the questionnaire were analyzed using descriptive statistical analysis method and inferential statistics by using SPSS version 20 as a tool of data analysis. The study clearly revealed that the four CRM dimensions are strongly related. Thus, from the perspective of customers as well as management bodies of the Oromia Credit and Saving Share Company, CRM has a significant influence on customer retention and loyalty of the organization. Generally speaking, microfinance institutions are in need of doing a lot of CRM-based customer-focused practices.
ISSN:1687-9147
1687-9155
DOI:10.1155/2021/5545836