Customer retention through customer relationship management : the exploration of two-way communication and conflict handling
- Authors: Roberts-Lombard, Mornay
- Date: 2011
- Subjects: Customer relationship management , CRM , Conflict management , Customer retention , Two-way communication , Short-term insurance industry - South Africa
- Type: Article
- Identifier: uj:5866 , ISSN 1993-8233 , http://hdl.handle.net/10210/7963
- Description: Organisations such as banks and short-term insurance organisations become more aware of the importance of customer relationship management (CRM) and its potential to help them acquire new customers, retain existing ones and maximise their lifetime value. A close relationship with customers will require a strong coordination between information technology (IT) and marketing departments to provide a long-term retention of selected customers. The primary objective of this study is to investigate the influence of selected independent variables, two-way communication and conflict handling on intentional customer loyalty via CRM as the intervening variable at a South African shortterm insurance organisation. Primary data were gathered using a questionnaire, with items referring to CRM, customer loyalty, two-way communication and conflict handling. The sample consisted of 254 customers in four major centres in South Africa. Data were factor-analysed. One independent variable, conflict handling exerted a statistically significant positive influence on the intervening variable (CRM), while two-way communication exerted a statistically significant negative influence on the intervening variable (CRM). The intervening variable (CRM) positively influenced the dependent variable (Customer Loyalty). If short-term insurance organisations communicate timeously and accurately, and are skilled in conflict handling, greater loyalty will be created among customers.
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Private banking customers' perceptions of retention strategies
- Authors: Basson, Gerhardus Coenraad
- Date: 2012-06-04
- Subjects: Banks and banking - Customer services , Consumer satisfaction , Customer retention
- Type: Mini-Dissertation
- Identifier: uj:2373 , http://hdl.handle.net/10210/4828
- Description: M.Comm. , There has been a great deal of attention paid to the issue of customer acquisition, but less has been paid to customer retention. Ang and Buttle (2006:83) highlight that while customer retention has been a significant topic since the mid – 1990s, little research has been conducted into management processes that are associated with excellent customer retention performance. The banking industry has gone through major changes in the past years, due to technology enhancement and mergers. Competition is based on lower interest rates, payment terms and costs, factors which have had a major effect on the retention of customers. This poses the question how private banks go about retaining customers.
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