Effect of Customer Relationship Management on Customer Retention in the Ghanaian Banking Sector

Abstract

The study investigates the effect of customer relationship management on customer retention in the Ghanaian banking sector.The population of the study comprise of customers who used banking services in the Kumasi metropolis in Ghana which is estimated to run into thousands.The study conveniently and purposively sampled 278 of which 278 responses were usable representing 100% response rate.The study is explanatory and closed ended questionnaires were used collect data.IBM Statistical Package for Social Sciences version 20 was the software used in data analysis.The study used multiple linear regression and correlation for interpretation and testing hypothesis.Cronbach alpha was also used to assessed internal consistency among the variables.The study found customer relationship management to positively and significantly affects customer's retention in the banking industry.The study recommends that customer relationship management should be improved by various banks in order to remain competitive.