Faculty of Commerce, Law and Management (ETDs)

Permanent URI for this communityhttps://hdl.handle.net/10539/37778

Browse

Subject: search.filters.subject.Customer Retention

Search Results

Now showing 1 - 6 of 6
  • Thumbnail Image
    Item
    Big Data Analytics as a Customer Retention and Acquisition Strategy within South African Retail Banking
    (University of the Witwatersrand, Johannesburg, 2024) Kharidzha, Muano; Chalomba, Nakuze
    Big Data analytics in banking can lead to superior performance, but the industry is still working to understand its relationship with organisational impact. To stay relevant, banks should invest in big data analytics, offering customer-centric experiences for retention and acquisition strategies, as threats from non-banks threaten the banking space. This study offers a novel approach to investigating how the application of BDA in the form of personalised customer engagements, product offerings, and fraud detection in the South African banking environment can be used as a customer acquisition and retention strategy. A quantitative method of study was used, where digitally active banking customers were requested to complete an online survey. The study's overall conclusion is that, thanks to the considerable impacts of the above-mentioned BDA applications on customer experience, there is a positive correlation between BDA and customer acquisition and retention
  • Thumbnail Image
    Item
    Switching Intentions in the Mobile Telecommunications Sector in Eswatini
    (University of the Witwatersrand, Johannesburg, 2021) Mazibuko, Nontsikelelo Ntombenhle; Penman, Neale
    This research study sought to establish factors that influence customer brand switching intention in the mobile telecoms sector in Eswatini. This was done through examining the effects that five key variables those being customer satisfaction perceived customer value, promotional activities, service quality and value-added services that literature has shown to have an effect on customer switching intention. This research study further examined the interrelationships between these variables and lastly determined how socio –economic variables impact customer switching intentions in the mobile telecoms sector in Eswatini. This research study was quantitative and used a survey method to collect primary data through an electronic questionnaire (designed on Google Forms). The population for this research study consisted of subscribers to the two mobile telecoms service providers in Eswatini and used a sample size of 342 respondents. Convenience sampling was utilised to collect data from respondents through sharing the participation invitation on Facebook. The study used a linear regression model to assess the influence of six variables; perceived customer value, value added services, promotional activities, perceived service quality, customer satisfaction and age. The model results showed that the perceived service quality, perceived customer value and customer satisfaction had a significant and positive influence on customers switching intentions. Whilst age had a negative and significant influence on customers switching intentions. The findings indicate that most respondents of the study were subscribers of the MTN network and were aged between 25-34 years, which is the youth age. Respondents reported that they did not fell valued by their network providers.
  • Thumbnail Image
    Item
    The Impact of Big Data in Customer Retention in Telecommunications within South Africa
    (University of the Witwatersrand, Johannesburg, 2023) Pereira, Clint; Chalomba, Nakuze
    The research methodology used a survey-based approach with a sample size of 123 individuals who are familiar with Big Data approaches. The survey employed a 7-point Likert scale to measure the impact of service quality, customer knowledge, advanced analytical techniques, and customer relationships on customer satisfaction and retention. Additionally, secondary research was conducted using data statistics to support the survey findings. The study found that personalized options and advanced analytics through Big Data approaches significantly impact customer retention and satisfaction. Service quality elements, such as dependability, tangibility, and assurance, positively correlated with customer satisfaction. However, improved customer service and relationships were not significantly correlated with customer retention. The research identified challenges in data management, security, and leadership skills, recommending organizations to address these issues through proper consent management, data security measures, and providing relevant training for executives. In summary, the study emphasizes the positive influence of Big Data techniques on customer retention and satisfaction in the South African telecommunication industry, providing valuable insights and implications for decision-makers
  • Thumbnail Image
    Item
    Service quality, customer satisfaction and customer retention: a case of private banking in South Africa
    (University of the Witwatersrand, Johannesburg, 2022) Phakathi, Nyameka; Saruchera, Fanny
    While significant studies exist on service quality, customer satisfaction and customer retention in private banking, little focus has been placed on young professionals within private banking in South Africa. Using the SERVQUAL model, guided by the study’s objectives, the study aimed to assess the impact service quality has on customer satisfaction, examine the impact of service quality on customer retention and establish service quality perceptions held by customers in relation to the value of private banking. Furthermore, the study sought to examine the relationships between customer satisfaction and customer retention in the context of private banking in South Africa. The integrative nature of the research strategy, design and philosophy prompted using quantitative research methodologies, drawing theoretical constructs from extant literature on service quality, customer satisfaction and customer retention. Quantitative analysis was used to determine the impact of service quality on customer satisfaction and customer retention, collecting data through self-administered questionnaires distributed to 281 private bank customers. The study found that while service quality is a significant determinant of customer satisfaction, tangibles and empathy have the most negligible impact and that service experience positively impacts customer satisfaction. In addition, while digital adoption is highest amongst young professional customers, the study found that human factors linked to three service quality dimensions, i.e., responsiveness, reliability, and assurance, significantly affect customer satisfaction and require particular focus in private banking. The study’s findings have significant repercussions for re- shaping service quality in private banking for young professionals. The study offers a framework that integrates three service quality theories that can be utilised as a guide for improving service quality in private banking in South Africa and other countries, thereby increasing the knowledge base in the area of young professional banking. Future research could focus on the impact of employee competency, loyalty and brand image on customer satisfaction and retention.
  • Thumbnail Image
    Item
    The impact of big data analytics on sales performance: the mediating role of customer performance
    (University of the Witswatersrand, Johannesburg, 2023) Mngomezulu, Thandolwethu Than; Mudau, Thanyani Norman
    Big Data Analytics (BDA) systems are used for gathering, storing, processing, and generating insights from large data sets. The volume, variety and veracity of the data cannot be collected and processed using traditional database engines, therefore advanced technology is used to capture this data. The outcomes from this data are used to assist stakeholders with making decisions and drive interactions on digital platforms. Organisations are making significant investment in implementing BDA, but the understanding of the impact that these systems have on sales performance (financial outcomes) and customer performance (non-financial outcomes) is limited. It is important to understand the direct and indirect impact BDA has on organisational outcomes because in cases where the impact is indirect, organisations ought to understand what capabilities are needed to mediate the desired outcomes. BDA has the potential to be used to enhance customer performance measures, such as customer satisfaction, customer retention and customer relationship management, through its use. This allows organisations to improve how their customers perceive them, the level of service they offer, customised products and experiences and keep customers making repeat purchases. This capability may translate into happier customers and increased sales performance. To address this problem, this study investigated the impact of BDA on sales performance. Furthermore, this study investigated if customer performance measures can mediate the improvement of sales performance through the adoption and use o f BDA. The data was collected using an online survey. 200 respondents were invited to participate. 126 responded to the survey and 100 responses were valid, leaving a final response rate of 50%. Descriptive statistics was used to show distribution of the data. Exploratory Factor Analysis, as well as Confirmatory Factor Analysis, were carried out to determine uni-dimensitonality. Structural Equation Modelling was then used to measure and analyse the relationships between the model concepts. This research found that the adoption of BDA does not have a direct impact on sales performance, however the adoption of BDA improves sales performance through mediating factors, i.e., customer satisfaction, customer retention, customer relationship management and market performance. This study gives a balanced view iv | P a g e of both financial (sales) and non-financial (customer) outcomes and contributes to the body of knowledge around big data. The report made several contributions. A theoretical contribution was made by extending the conceptual model of Shahbaz et al. (2020) to include customer performance measures as mediating factors. The customer performance factors include customer satisfaction, customer retention, customer relationship management and market performance. A contextual contribution was also made by conducting the study in the South African business context. Only studies about factors affecting adoption of big data analytics have been done in the South African context and not on the benefits therefore, therefore this is a new contribution in this context. In practical terms, sales and marketing professionals can get a better understanding of the customer performance measures that can be leveraged to increase sales. This can assist practitioners to achieve their key performance indicators in organisations where big data analytics have been adopted
  • Thumbnail Image
    Item
    Fintech as a driver for customer retention in the South African telecommunications industry
    (University of the Witswatersrand, Johannesburg, 2023) Kalabamu, Erick
    This study explored the impact of financial technology (fintech) adoption by customers on customer retention in South Africa’s telecommunication industry. Telecommunications companies in South Africa have been at the forefront of bringing technological innovation into their processes at a very early stage. However, customer retention as a result of fintech adoption by customers is not clear. To retain customers in a competitive business environment, new products and services are usually employed. This study analysed the impact of fintech service adoption and telecommunication service adoption in retaining customers underpinned by the communication theory and UTAUT. Adoption was determined by the customer’s perceived values and usefulness of the services. Customer retention was determined by the customer’s intention to remain with the network provider and had no intention to switch to another network provider. A 33-item questionnaire was used to gather data from 130 telecommunication customers at Wits Business School (WBS). Correlation analysis, exploratory factor analysis and structural equation modelling were used to analyse the data collected. This correlation analysis revealed that there is a positive correlation and a statistical significance (r = 0,515 and p-value < 0,01) between customer retention and fintech service adoption. In contrast, traditional telecommunication services, an essential part of telecommunication companies, have insufficient evidence to suggest a statistically significant relationship (p-value -0,040) and correlation (r = 0,181) with customer retention. The results of this study provide insights for telecommunication firms to develop and expand fintech services for their existing customers. Implementing financial technology services will confer additional iii value beyond the scope of traditional telecommunication services. Communication was also seen to have a positive impact on fintech adoption over telecommunication adoption, thus having a positive impact as an additional variable. As a result of these findings and efforts employed by telecommunication firms as seen in media reports, SMS campaigns, social media, advertisements, mergersand acquisitions of fintech start-ups, fintech service adoption by customers has an impact on customer retention.