CUSTOMER RELATIONSHIP MANAGEMENT TOOLS AND ORGANIZATIONAL PERFORMANCE OF COMMERCIAL BANKS IN SOUTHWEST, NIGERIA

Abstract

The purpose of the study was to examine the extent at which customer relationship management
tools influence the organizational performance of commercial banks in Southwest, Nigeria. The
study was carried out using the descriptive research design of the survey type. The population of
the study was six hundred and twenty-four (624) respondents which comprised all the
zonal/branch, operations, human resources manager and customer care giver of five of each of
the twenty-six (26) commercial banks in Southwest, Nigeria, (CBN, 2024). The sample of the study
consisted of three hundred and ninety (390) respondents which was achieved through multistage
sampling techniques. The study adopted a questionnaire instrument tagged ‘Customers
Relationship Management Tools and the Organizational Performance of Commercial Banks’
(CRMPB). The reliability of the instrument was estimated at 0.80 using Chronbach’s Alpha
reliability method. The data collected for this study was analyzed using both descriptive and
inferential statistics. All hypotheses were tested at 0.05 level of significance. This study revealed
that there is significant relationship between the usage of customer relationship management tools
and the organizational performance of commercial banks operating in Southwest, Nigeria; there
is significant relationship between Hub Spot CRM tools and customer retention rate of
commercial banks operating in Southwest, Nigeria, and there is significant relationship between
Oracle CX Cloud CRM tools and cross-selling and upselling opportunities in commercial banks
operating in Southwest, Nigeria. Based on the findings of the study, it was recommended that
commercial bank operators should adopt the usage of CRM tools to enhance their organizational
performance.