The Effect of Customer Relationship Marketing on Customer Retention in the Ghanaian Banking Sector : A case study of Intercontinental Bank Ghana Limited

Abstract: Abstract Customer relationship management as a strategic marketing concept has gained tremendous interest among researchers and practitioners in recent times. Within the last two decades a significant number of research works have been carried out on various issues relating to customer relationship management. However, few empirical studies on market orientation and performance have been established in the Ghanaian banking sector. In an effort to contribute to the existing customer relationship management literature, a study of Intercontinental bank Ghana was conducted. A framework of customer relationship management was designed to guide the study. Specifically, this study examines the customer relationship marketing strategies of banks in a developing country like Ghana using Intercontinental bank as a case study. The study employed quantitative research techniques. Semi-structured questionnaire was designed for the study. The findings show that the bank is doing well by maintaining the relationship it initiates with its clients but must work on improving the number of contact time with them as e-CRM provides them with the opportunity to do so. However, a significant finding from the study is the realization that majority of respondents were willing to recommend the bank to others an indication that they were happy with the level of service at the bank. Although significant portion of those who considered the possibility of leaving indicated that they will do so because of delayed transactions. It is in the light of this that the research is said to play a significant role in the banking sector and for the nation as a whole.