Customer Relationship Management and Micro, Small and Medium Enterprises (MSMEs) Growth in South West, Nigeria

Abstract

This study examines the basic components of Customer Relationship Management and its influence on the growth of Micro, Small and Medium Enterprises (SMEs) in South-West Nigeria.  The data obtained were analysed using appropriate descriptive and inferential statistics.  The results of the study show a statistically significant relationship between customer care strategies and customer retention, public image maintenance and customer care (r = 0.430, p < 0.05), (r = -0.438, p < 0.05) respectively. The analysis also revealed a significant relationship between human resource factor and business revenue, product development as well as product market development (r = 0.209, p < 0.05), (r = 0.259, p < 0.05), (r = 0.472, p < 0.05) respectively.   The analysis further showed a statistically significant relationship between analytics and business revenue, product development, and customer retention (r = 0.416, p < 0.05); (r = 0.313, p < 0.05), and (r=0.291) p=0.003) respectively.  It was also found out that there was a statistically significant relationship between business reporting and employee satisfaction, customer retention, product market development and business revenue. There was also a significant relationship between marketing and business revenue (r = 0.214, p< 0.05).  The study concludes that the components of Customer Relationship Management examined as an omnibus concept had influence on the growth of MSMEs in the study area (R square =0.375, Adjusted R square = 0.334, p<0.001).