Evaluating the Impact of Customer Engagement on Customer Retention for Sustainable Bank Operations

Abstract

Purpose; The study conducted a comprehensive analysis to determine the influence of customer engagement on customer retention at Guaranty Trust Bank Plc, centring on the Asaba region in Delta State, Nigeria. Method; This research employed a cross-sectional survey methodology and utilised a questionnaire as the primary data collection tool, drawing responses from a total of 417 participants, consisting of both bank staff and customers. The collected data was subjected to rigorous validation and reliability testing. The research utilised inferential statistics, including the Sampled Paired Test and Cronbach Alpha, with the aid of SPSS version 25, to evaluate the hypotheses. Result; The results uncovered significant positive impacts of various forms of customer engagement on different aspects of customer behaviour. Limitation; This study was limited to only Guaranty Trust Bank plc in Asaba, Delta State Nigeria, and also explored the content scope of customer engagement and retention. Contributions; The study has contributed to the wealth of knowledge in theory and practices, and it has also given insight into why commercial banks in Nigeria should hold firmly on the strategies of customer engagements.