Abstract
The study aimed at assessing the impact of effective customer touch point management on the performance (profitability, patronage level, market share and image) of commercial banks and on customers’ satisfaction. The cross-sectional survey research design was adopted while a sample size of 130 respondents made up of First and Zenith Banks Staff and customers in Owerri Metropolis was used. Stated hypotheses were tested using the Chi-square. It was discovered among others that most customer touchpoint management strategies in commercial banks in Owerri were still ineffective and inefficient and that effective customer touchpoint management has significant impact on banks’ performance and customers’ satisfaction. The study recommended among others that commercial banks should identify and effectively manage the basic customer touchpoints and conduct periodic marketing research to assess customers’ view of the efficiency and effectiveness of their touchpoints management efforts.
Highlights
The Nigerian banking industry is one that undergoes changes from time to time
This study aims at identifying the touch points that are relevant to the satisfaction of commercial banks’ customers in Nigeria and above all evaluating the impact of effective management of these touch points on the overall performance of these banks, using Zenith Bank Plc and First Bank Plc
RECOMMENDATIONS Based on the findings of this work, the following recommendations are hereby made: 1. Commercial banks should endeavour to identify and effectively manage the basic customer touchpoints that will improve customer satisfaction and advocacy as this will help improve profitability, patronage, market share and company image
Summary
The Nigerian banking industry is one that undergoes changes from time to time. According to Agu (2008), the sector has experienced the enactment and repeal of many laws which are aimed at ensuring efficiency and effectiveness. The post-consolidation era of Nigerian banking sector is one in which competition has shifted from laying emphasis on banks capitalization to effective management of sensitive customer touch points. Some of the touch points identified in a bank include; customer service officers, atmosphere, receipts, events, offerings, financial expert reports, web sites, internet, IT systems, research reports, sponsorships, word of mouth, e-banking, regional office contacts by phone with client service advisors, ATM, etc. In marketing, these are generalized as service evidence
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