Marketing automation innovation practices and customer retention performance: evidence from the Nigerian manufacturing SMEs

Olomu, Michael Oluwaseun

doi:10.1504/ijbpm.2019.10023529

Cited by 3 publications

(5 citation statements)

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“…Baber (2020) in his study on the FinTech sector, discovered that adding different process innovation techniques such as online payments, advisory and compliance section has significant effect on customer retention while recommending joining relevant association in order to add value to their performance. This result compliments previous study of Olomu (2019) who revealed a positive relationship between process innovation and customer retention. The study further noted that the choice of automation technologies, investment level and firm size are crucial in determining the customer retention performance of the industry.…”

Section: Process Innovation and Customer Retentionsupporting

confidence: 92%

“…(Kyei & Bayoh, 2017) reported in their study that a positive relationship exists between process innovation and customer retention, according to them, process innovation coupled with service and marketing innovation were key determinants to retaining new customers and gaining new ones. Baber (2020), Olomu (2019) in result compliments previous study of who revealed a positive relationship between process innovation and customer retention. The study further noted that the choice of automation technologies, investment level and firm size are crucial in determining the customer retention performance of the industry.…”

Section: Hypotheses Twosupporting

confidence: 84%

“…The study further noted that the choice of automation technologies, investment level and firm size are crucial in determining the customer retention performance of the industry. Numerous studies have established that process innovation had significant effect on firm's competitiveness and performance (Adepoju, Olomu, & Akinwale, 2017;Kyei & Bayoh, 2017;Baber, 2020;Olomu, 2019). Based on the above discussions, the following hypothesis was developed: H02: Process innovation does not statistically relate to customer retention on SMEs.…”

Section: Process Innovation and Customer Retentionmentioning

confidence: 99%

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Innovation Practices: Catalyst for SMEs Performance in Anambra State, Nigeria

Okoli,

Nuel-Okoli,

Ibekwere

2024

IJEPM

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Purpose: The shortfall of innovation practices among SMEs in Anambra State necessitated this study. The study aimed to investigate the influence of innovation practices on the performance of Small and Medium Scale Enterprises in the selected SMEs from different sectors in Anambra State. Methodology: Cross-sectional research design was adopted by the study. The population of the study consisted of 15 selected SMEs from different sectors totaling one thousand eight hundred and sixty (1860) management and workers of the selected SMEs in Anambra State. A sample size of 300 was determined using Krejcie and Morgan (1970) formula. For the purpose of this study, the primary source of data (questionnaire), which was subjected to both validity and reliability was utilized. Both descriptive and inferential statistics were adopted in data analysis and the hypotheses were tested at a 5% level of significance. Findings: The study revealed from the analysis that product innovation has a statistically positive relationship with customer satisfaction (r = .847; P-value < 0.05) and between process innovation and customer retention (r = .813; P-value < 0.05). Also revealed was technological innovation has a statistically significant influence on competitive advantage (r = .769; P-value < 0.05) and that marketing innovation has a statistically significant influence on brand awareness (r = .790; P-value < 0.05). It was concluded that innovation practices have a significant relationship with performance of SMEs. Unique Contribution to Theory, Practice and Policy: The study advocated that creative and quality on product innovations need to be maintained continuously to develop appropriate product continually and increase the customer satisfaction. SMEs need to be passionate about incorporating technological innovation qualities that will assist employee performance to delivers satisfaction to their customers through technological innovation that will keep attracting new customers and retaining customers through employee performance. Also, more investment need to be made in research and development to be able to innovate more and adopt more innovative strategies to improve their market innovation.

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Section: Process Innovation and Customer Retentionsupporting

confidence: 92%

Section: Hypotheses Twosupporting

confidence: 84%

Section: Process Innovation and Customer Retentionmentioning

confidence: 99%

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Innovation Practices: Catalyst for SMEs Performance in Anambra State, Nigeria

Okoli,

Nuel-Okoli,

Ibekwere

2024

IJEPM

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“…Melalui kemunculan software yang membantu melakukan otomatisasi penjualan (SFA), CRM berubah fokusnya menjadi pemasaran yang sifatnya one-to-one. Software SFA melakukan otomatisasi terhadap berbagai tugas-tugas yang sifatnya rutin untuk dilakukan, seperti melakukan pelacakan terhadap kontak dan memperkirakan pelanggan (Olomu, 2019). Software SFA memiliki tujuan untuk dapat memberikan kesempatan kepada tenaga penjualan agar dapat lebih berkonsentrasi kepada penjualan dibandingkan tugas-tugas administrasi.…”

Section: B Tinjauan Pustaka 1 Customer Relationship Management (Crm)unclassified

Customer Relationship Management (Crm) Dalam Dunia Digital Melalui Sistem E-Commerce

Jam'an¹

2021

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Advances in technology have caused a lot of changes that occur in various human lives, including shopping activities. Through the presence of the internet, shopping activities now no longer need to be done traditionally, but can be carried out by utilizing existing e-commerce. The existence of e-commerce makes various companies need to adjust their Customer Relationship Management (CRM) business strategies. This is because there will be many changes that occur in CRM when they are in an e-commerce environment. This research was carried out using a qualitative approach with data sources derived from previous studies. The results show that there are changes that occur in CRM when in an e-commerce environment. Then this research also finds out how the characteristics of CRM while in the e-commerce environment.

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“…By enhancing the relationship between customers and the company, customer loyalty would be created which leads to customer retention in the long term (Antonio and Laura, 2009) and business sustainability (Bravo and Vieira, 2019). Investment and management of customer relationship finally affect profitability and industrial development (Olomu, 2019). Moreover, customers' perception could vary among alternative brands through perceived value (Mulej and Ríos, 2006).…”

Section: Related Workmentioning

confidence: 99%

Investigating the problem of profit margin decrease in manufacturing companies through SD simulation

Rabieh¹,

Shahzadi²,

Heydarbakian³

2021

IJIEI

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Manufacturing companies struggle with many constraints affecting their profitability. Profitability, as a financial performance indicator, is thus a concern for managers, policymakers, and stakeholders of all manufacturing companies. This study aims to address the problem of profit margin decrease in such companies. To that end, system dynamics (SD) simulation was used to address the problem in a comprehensive manner. Real-world data was obtained from a dairy company in Iran, and after going through the SD modelling steps, the validity of the model was proved based on the reproduction of the historical data. The results reveal that under low customer income and high raw material prices, the net profit margin decreases to -0.002 and -0.001, at its minimum, and had 14% and 1.2% average reduction yearly for years between 2018 and 2028. The results also reveal that the behaviour of the net profit margin could be improved by two proposed policies.

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Marketing automation innovation practices and customer retention performance: evidence from the Nigerian manufacturing SMEs

Cited by 3 publications

References 0 publications

Innovation Practices: Catalyst for SMEs Performance in Anambra State, Nigeria

Innovation Practices: Catalyst for SMEs Performance in Anambra State, Nigeria

Customer Relationship Management (Crm) Dalam Dunia Digital Melalui Sistem E-Commerce

Investigating the problem of profit margin decrease in manufacturing companies through SD simulation

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