Research On Customer Relationship Management In Ghana Micro-finance Institutions

Businesses are in a constant race to increase revenue, keep their current customers and poach or recruit more new ones, competing for customers with international institution on local market like never before. One of the many sets of tools aimed at aiding the conversation between firms and customers are the methodologies of Customer Relationship Management. CRM is aimed at building an everlasting relationship between the firm and its customers that keep customers to repeat purchase. It aims to help institutions build individual customer relationships in such a way that both the firm and the customer get most out of the exchange, proving both parties with long term benefits.The purpose of the thesis is to provide a better understanding of the usage of CRM in Microfinance institution in Ghana. The key issues regarding customer relationship management implementation were look at. To reach an understanding the thesis start with definition of CRM, factors that facilitate successful implementation of CRM, the benefits of customer relationship management and the barriers to successful implementation. Using the collected theory about these questions, Advans Ghana saving and loans limited is used as the case study to bring out the benefits of the use of CRM which will help attract other firms within microfinance industry.Findings have also shown that there are few challenges especially in the area of data integration which tends to slow the process being made by companies in their CRM operations. Again, findings have underscored the benefits derived from CRM initiatives even at the initial stages of its implementation. When the people involve find out the link between the CRM and profitability, it will help them to service their customer’s well which will enhance profitability. Evaluating approaches are always objectively given by customer feedback and employee reactions. The researcher found out that, with the use of CRM, information on customers is made available to all departments within the organization and the CRM of Advans Ghana limited is very effective and can be set as example to all other microfinance institutions of Ghana and small and medium sized enterprise(SMEs).