Impact of Customer Relationship Management (CRM) Through Online Banking Services on Customer Retention with Mediating Role of Customer Perception and Satisfaction. A Case of Standard Chartered Bank Pakistan
AbstractCustomer retention and satisfaction are two important indicators of effectiveness of marketing strategies for companies. Customer relationship management has emerged as one of the most important factor determining the competitive edge for companies in different industries. In the Pakistani Banking industry, the online banking is used as a key tool for establishing better and effective relationship with the customers through the different touch points offered. The Customer Relationship Management through online banking has substantial implications for the customer retention in the Banking industry. This study analyzed the role of Online Banking CRM in context of Standard Chartered Bank Pakistan for assessing the impacts on Customer retention. The regression analysis was performed on the primary data collected from 120 respondents sampled from online banking customers of Standard Chartered Bank from Lahore Branches. The results indicate that CRM has significant relationship with customer satisfaction and perceptions regarding products and services of the bank which in turn results in increased ability of the bank to retain its customers.
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