Impact of Customer Feedback Management on Customer Satisfaction in Deposit Money Bank in South-eastern Nigeria

Abstract Impact of customer feedback management on customer satisfaction in deposit money bank in South-eastern Nigeria was examined. The population of the study consists of customers of Access Bank, Ecobank, First Bank and UBA in Abia, Enugu, Awka and Owerri regional offices in South-eastern Nigeria. The target population includes intercepted student customers (undergraduates and post graduates) of those banks. Survey method was adopted for the study and the sample size of 384 was determined using Cochran’s formula. Cronbach’s alpha was used to determine the reliability of the instrument which gave the value of 0.886. Questionnaire was adopted as the instrument for the collection of primary data and was distributed to the 384 students who correctly filled and returned 318. Analysis of data was conducted using simple linear regression analytical technique with the aid of SPSS software version 22. The study revealed that customer feedback management has a significant positive impact on customer satisfaction in deposit money banks in South-eastern Nigeria. Thus, customer feedback management is an effective strategy for achieving customer satisfaction in the Nigerian banking industry. The researchers recommend that Access Bank Plc, Ecobank Plc, First Bank Plc and UBA Plc should continuously improve on managing customer feedback channels to make their customers more satisfied and thus, achieve higher profitability for their shareholders