An Implementation of Customer Relationship Management and Customer satisfaction in Banking Sector of Quetta, Balochistan

Abstract

Banking industry in Pakistan has become highly competitive, bankers are putting enhanced efforts to acquire and retain customers by incorporating innovative customer relationship management (CRM) techniques. Due to rapid technology penetration, customers have rapid entrance and options to multiple financial products/services. Present study focuses on measuring customer satisfaction in the result of Bank’s CRM efforts. Research is based on the fact and evolve the theme of the study, that is to find the significant factors affect customer satisfaction, that is a center of customer relationship management (CRM) for controlling the excessive competition in Quetta banking industry. Two structured questionnaires are used based on quantitative view and hand out on a stratified sample. First questionnaire is having a data of 31 employees in the sampled banks to measure the CRM suitability while second one is having a data of 302 customers from the sampled banks to count the level of customer satisfaction. The findings show that the selected banks apply the CRM components and found that these are positively associated with customer satisfaction. Respecting the results of the bank survey, the level of CRM implementation and the relevance of its elements be unlikely from one to another bank. Findings confirm that in Quetta banking sector there is a tough competition going on as every bank (public, private) is trying its best to capture more and more customers. Banks have to bring change in their strategies to build and strengthen relationship with their customers because it is one of the major competitive advantages.

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“…(Chang et al, 2021) show that service quality has a substantial, positive link with customer satisfaction because patient contentment and readiness to suggest the provider are connected to many customer perceptions of service quality in outpatient health care. Therefore, the theory presented throughout this study becomes: H2: Service Quality has a positive relationship with Customer Satisfaction (Ajmal & Rehman, 2019) Stated that customer relationship management has a favorable influence on customer satisfaction, according to the findings of the study, because the more delighted customers are, the more banks will focus on implementing customer relationship management practices. (Tarmidi & Irgandi, 2022) Finds that the variables of promotion, customer relationship management, and customer satisfaction influence Netflix's customer loyalty and better than in every strategic policy decision made by the company, it is necessary to pay attention to the elements of promotion, use of customer relationship management tools, and prioritize the Netflix brand name.…”

“…Customer relationship management is based on an essential premise that improves customer experience and understanding customer wants as the key to customer retention, organizational profitability, and growth. Successful customer relationship management can be achieved via the creative use of the company's activities, people, business, action, and technology (Ajmal & Rehman, 2019). The major components and foundations of customer relationship management systems and strategy are the social CRM system that gathers approaches and information from various communication channels such as customers' smartphones, emails, and social media (Alshurideh, 2023).…”

The Implementation of Customer Relationship Management System and Innovative HR Practices in Pakistani Banking Sector

“…In the light of competition between organisations in the business sector, many companies seek to gain the satisfaction of their customers as well as attract new customers. According to Ajmal & Rehman (2019) companies retain customers using modernized process and tool known as customer relationship management system. Therefore, the primary objectives of implementing Customer Relationship Management (CRM) in banks are to enhance the customer relationship and improve customer satisfaction.…”