Date of Conferral
2022
Degree
Doctor of Business Administration (D.B.A.)
School
Business Administration
Advisor
Lisa Kangas
Abstract
The failure of long-term customer relationships poses a material threat to the profitability and growth of organizations. Financial service leaders who have difficulties cultivating long-term relationships are at risk of not ensuring their business’s financial stability. Grounded in the concept of customer relationship management, the purpose of this qualitative multiple case study was to explore strategies financial service business leaders use to cultivate long-term customer relationships. Data were collected from 16 financial services business leaders using semistructured interviews and a review of company documents related to customer relationship management and marketing. Data analysis using Yin’s five step method resulted in the identification of four themes: implement a holistic approach, identify the pain points of the customer, optimize word-of-mouth strategies to increase sales, and improve the capacity to adapt during man-made or natural disasters. A key recommendation for financial services leaders is to prioritize establishing long term relationships with customers and understand how vital it is to the organization’s overall success. The implications for positive social change include the potential for financial service leaders to reach broader socioeconomic segments within their communities, thus potentially contributing to the community’s financial health.
Recommended Citation
Howell, Chauncelor Roosevelt, "Strategies to Cultivate Long Term Customer Relationships" (2022). Walden Dissertations and Doctoral Studies. 12712.
https://scholarworks.waldenu.edu/dissertations/12712
