Customer Care-Specific Attributes and The Performance of Quoted Deposit Money Banks in Nigeria

Abstract

This study assesses the relationship between customer care-specific attributes and the customer growth of quoted deposit money banks in Nigeria. In this study, a cross-sectional survey, which is a quasi-experimental method, was employed. This study encompasses the entire Survey Respondents of 105 sample staffs and their bank customers of the 14 quoted money deposit banks in Nigeria, serving as the accessible population for the study. Data Collection Method was the Primary Data Collection designed questionnaire. The Likert scale, consisting of response options such as Strongly Agree, Agree, Disagree, and Strongly Disagree, was employed. The study used Spearman's rho correlation to observe the statistical significance at 1% level. The result showed that p-values for all correlations are highly significant (p < 0.01), suggesting strong evidence that these relationships are meaningful. This provides confidence in the model's fitness in terms of statistical significance in the given results, with the highest being between customer growth and the number of financial products (0.494), indicating a moderate positive relationship. The coefficients show the strength of the relationships, with high values indicating stronger associations. The model's relationships are robust and not due to random chance, indicating good fitness. It was recommended that banks should ensure that customer service personnel are accessible, responsive, and effective by investing in convenient customer service channels. They should regularly provide training and development opportunities for bank customer service personnel to ensure that they can handle customer inquiries and issues effectively. They should recognize and reward the efforts of bank customer service personnel with fair and competitive salaries and benefits to motivate and retain top talent. They should also diversify the range of financial products offered by banks to meet varying customer needs and attract a broader customer base.