Abstract
The main objective of relationship management is to retain current customers rather than prioritize attracting new ones. Loyal customers frequently share their experiences with potential customers, thereby acting as drivers for new customer acquisition. This study investigates the relationship management approaches and techniques utilized by three e-commerce companies to strengthen customer retention. It evaluates three independent variables customer acquisition methods, customer retention strategies, and service quality and their influence on the dependent variable, customer satisfaction. A carefully designed questionnaire was employed to gather data from 240 respondents using a purposive sampling method. Statistical measures, including mean, standard deviation, and t-tests, were applied for data evaluation. The results reveal a strong connection between customer relationship management strategies and customer satisfaction. To achieve customer loyalty, companies must nurture robust connections with their clientele by emphasizing these critical independent variables.
REFERENCES
1. Siby, A. George, J.P. (2022). Influence of customer relationship management for the success of e- cusiness. Information and communication Technology for Competitive Strategies (ICTCS 2020). Volume 191. Springer, Singapore.
2. Teshita Uke Chikako, GemediTesfayeHamu, (2021) Assessment of Customers relationship Management Practices on customer retention and loyalty of Ormia Credit and Saving Share Company: Bule Hora City Branch. Advances in Operations Research, Vol.2021 Article ID 5545836.
3. Hermenegildo Gil-Gomez, Vicente Guerola- Navarro, RaulOltra- Badenes& Jose Antonio Lozano – Quilis (2020) customer relationship management: digital transformation and
sustainable business model innovation, Economic Research- EkonomskaIsstrazivanja, 33:1, 2733-2750, DOI: 10.1080/1331677X.2019.166283.
4. Hasan, Haslinda& Bin- Nashwan , Saeed (2017). Impact of customer relationship management on customer satisfaction and loyalty: A Systematic review. Research Journal of Business Management. 6. 86-107.
5. Adikaram,C.H. (2016) The relationship between customer relationship management and customer satisfaction. International Journal of Arts and Commerce, 5(2), 69-95
6. A. Shanthi.(2014) Indian retail Industry- Its Growth, Challenges and Opportunities
7. Azila .N.,& Noor. M., (2011) electronic customer relationship management performance a: Its impact on loyalty from customer perspectives. International Journal of e- education, e- business, e-management and e- learning1(2), 181-186.