Customer retention by Barclays Bank of Kenya Limited

Abstract

To cope with increased competition and increased customer expectations, many organizations are forced to adopt proactive strategies to become more customers driven and to offer higher service quality in order to avoid customer turnover. When an International firm is unable to retain customers, it means that they are losing business which is critical for profitability. Many organizations including Multinational banks however overlook the potential of existing customers who develop their business. This therefore is a case study aiming at getting detailed information regarding customer retentions in Barclay’s bank of Kenya which is a Multinational operating on an International Business environment that has a lot of competitors. The study used an interview guide as primary data collection instrument. The interview guide consisted of open-ended questions aimed at obtaining information on customer retention strategies that is employed by Barclays Bank. An interview guide was used to collect information from human Bank managers, head of department and operation managers of Barclays bank of Kenya. The interview guide was administered through personal interviews so as to yield the highest quality and quantity of data by providing supplementary information in the course of the interview. This study concluded that Barclays bank products were accessible, ease channels of delivery and available with a well pricing and enhanced quality thus providing competitive products that satisfied its customers. Making changes in information technology systems in response to changing competitive situation and encourage among staff a more customer -focused service approach is important.