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You will prepare and submit a term paper on To improve customer satisfaction through customer journey experience in retail banking of a local bank. Your paper should be a minimum of 8500 words in leng
You will prepare and submit a term paper on To improve customer satisfaction through customer journey experience in retail banking of a local bank. Your paper should be a minimum of 8500 words in length. The project would review the impact of these two concepts on customer satisfaction and customer loyalty.
Service quality is a central element to the success of businesses. This is because quality is often inherent in the nature and structure of the level of satisfaction that customers attain in accessing services (Parker, 2010). This implies that the success and failure of a given company depends on how well they meet service quality requirements and expectations.
Service quality makes customers satisfied. This provides a strong case for customers to remain loyal to a company and its brands (Sigala, 2008). Customer relationship management is therefore a tool for the creation of a strong connection and bond with its customers. This relationship is steeped in service quality and it leads to customer loyalty.
According to Sigala (2008), customer relationship management is essential for the survival of businesses. Customer relationship management enables a company to build a long term link with its customers and convert them to returning clients. Another research states that it costs up to seven times more to attract a new client than to convert an existing customer to a returning customers (Parker, 2010). This means that customer relationship management is important and vital in cutting down costs and at the same time, promoting a firms operations.
Customer relationship management provides a structured means through which maintains a link with its customer. This helps the company to optimize its relationship with the customers and use the best systems to continue to remain in touch with the customers. Another school of thought presented by OReilly and Paper, 2012) is that customer relationship management providers an avenue for the maintenance of a satisfactory quality level.
