Customer Relationship Management Practices and Customer Satisfaction in Deposit Money Banks (DMBs) of Kogi State-The Covid-19 Era

Abstract

The current onslaught of the Corona virus popularly known as Covid-19 pandemic on business and the economy has become a matter of concern in recent times.  It is to this end that the study investigates the impact of Deposit Money Banks (DMBs) customer relationship management practice on customer satisfaction in a Covid-19 pandemic era in Kogi State Nigeria.  The study adopted a survey research design.  Data for the study were collected through a structured questionnaire designed in 5 points Likert scale.  The population of the study was the entire customers of Deposit Money Banks in Kogi State.  A sample of 246 was drawn using Topman statistical formula for an infinite population.  Out of the 246 questionnaire distributed, 151 were completed and returned representing 80% response rate.  The data collected were analyzed using descriptive statistics such as tables, mean scores, percentages and frequencies.  The hypotheses formulated were tested using simple linear regression.  The results of the analysis show that Covid-19 pandemic affects the existing Deposit Money Banks (DMBs) customer’s relationship management practices in a strong term.  The findings indicate that bank customer relationship management practices of responsiveness during the Covid-19 pandemic accounts for 79% customer dissatisfaction and that of customer relations accounts for 88% of customer dissatisfaction.  Based on the findings, the study recommends that banks are to train and retrain their front line staff to build capacity to deal with relations with customers’ in strange and difficult situations created by the Corona virus pandemic.