EFFECT OF CUSTOMER RELATIONSHIP MANAGEMENT STRATEGIES ON PERFORMANCE OF MEDIUM ENTERPRISES
DOI:
https://doi.org/10.47941/jbsm.683Keywords:
Customer Retention, Technology Infrastructure, Customer Experience, Customer Intimacy and Performances of MSE's.Abstract
Purpose: The main purpose of this study was to investigate the effect of customer Relationship management strategies on performance of Medium Enterprises.
Methodology: The researcher used descriptive research design. The study site is at Kiambu County, where researcher is expected to collect data from different 5 heads of department of 40 medium enterprises. Data shall be collected using self - administered Questionnaires since the found extensive knowledge in the market hence dropped the interview. The researcher employed SPSS version 24.00 to analyze descriptive statistic. The result was presented using tables and chart.
Results: The study established that Customer Retention, Technology Infrastructure and Customer Experience positively and significantly affects performance of MSE's as shown by beta values of 0.449, 0.269 and 0.357andsignificant values of0.000, 0.013 and 0.001 respectively. Customer Intimacy was found to positively but insignificantly affects performances of MSE's. The results implies that increasing each of the independent variable with one unit increases performance of MSE's with associated beta values. The study concludes that Customer Retention, Technology Infrastructure, Customer Experience and Customer Intimacy positively affects performances of MSE's to positive levels.
Unique contribution to theory, practice and policy: The study recommends that management of MSE's to enhance Customer Retention practices, Technology Infrastructure, Customer Experience practices and Customer Intimacy since the practices positively affects performances of the enterprises. Further research recommends in order to enhance retention firm should consider the following strategies, open communication policies, Corroborative or business partnering strategies and production innovation strategy. On second pillar(technology) the study recommends that firms should integrate technology with their good and service. On third pillar(customer experience) the study recommends that firm should support the customers throughout consumption process ,implement user defined product approach and implement J.I.T system. On the last pillar study recommends that firm should be customer centric when innovate product, open communication and organize met up's. Furthermore more the study recommends further comparative study on other counties; CRM practice and their effect on performance and remaining 50.6% out of 1006% CRM strategies accounted by other indicators not included in this study.
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