A Regression-Based Analysis of the Influence of CRM Practices on Customer Loyalty in Ekiti State’s Deposit Money Banks

This study explores the influence of Customer Relationship Management (CRM) on customer loyalty in money deposit banks within Ekiti State, Nigeria. It focuses on key CRM elements—customer feedback, personalization, communication, and employee empowerment—and their role in fostering loyalty among banking customers. Employing a survey research design, the study targeted four selected banks in Ado-Ekiti, drawing responses from 400 participants, including both bank customers and staff. Data were gathered through structured questionnaires and analyzed using both descriptive and inferential statistical methods. Multiple regression analysis was applied to assess the extent to which the CRM components (independent variables) predict customer loyalty (dependent variable). The regression results showed a strong relationship, with an R² value of 0.790, indicating that the selected CRM practices significantly contribute to customer loyalty. Based on these findings, the study concludes that robust CRM strategies are essential for enhancing customer retention in deposit money banks in Ekiti State. It recommends that bank managers regularly evaluate and improve customer service practices to maintain and strengthen customer loyalty.