Evaluating Customer Process to Contribute to Customer Acquisition: A Quantitative Study in Jordanian Banking Sector

Abstract

Over the past few years, banks are increasingly realizing the significance of customers' service; one of the key challenges for them is how to improve the relationship with customers. On any given business day, significant amounts of information fuel business processes that involve parties both inside and outside of enterprise network boundaries. In response, many banks have increasingly recognized the importance of managing customer acquisition from a process approaches' perspective to assure positive impact on customer acquisition. This paper takes on a holistic approach that examines the combined effects of customer processes (Customer Relation, Customer attraction, Customer Knowledge Capture and Customer data Analysis) on customer acquisition. Drawing on this, the framework develops several hypotheses regarding the main interaction effects of customer processes on customer acquisition. Testing of these hypotheses is based on a sample of the data collected from two hundred respondents, drawn randomly from four Jordanian Banks working in the Customer Relationship Management (CRM) area. The results of the survey show that the four selected factors (Customer Relation, Customer attraction, Customer Knowledge Capture and Customer data Analysis) have a significant impact on customer acquisition. Additionally, the Quantitative evidence from the survey offers further support for this finding. The emerging empirical findings will certainly help both researchers and practitioners in future customer process and Customer acquisition research. The contribution of the paper consists in establishing the need for researching and incorporating customer acquisition process as an important support to keep organizations competitive within the global business environment.