Impact of Customer Loyalty on Organizational Performance in Some Selected Publishing Companies in South-Western Nigeria
Publication Date: 17/01/2024
Author(s): Paul Ayobami AKANBI (Prof.), Olumuyiwa Olugbenga OBAFEMI (Ph.D.).
Volume/Issue: Volume 7 , Issue 1 (2024)
Abstract:
In the dynamic realm of publishing enterprises, the intricate interplay between customer loyalty and organizational performance stands as the fundamental cornerstone for long-term prosperity, exerting a pivotal influence on driving notable commercial achievements. This research delved into the nexus of customer loyalty and organizational performance within publishing companies situated in South-Western Nigeria. The research population encompassed employees of publishing companies randomly selected from 40 establishments in both the bustling metropolises of Lagos and Ibadan. Employing a survey design method, the study enlisted four hundred and one (401) respondents as subjects. Primary data collection occurred through a meticulously structured questionnaire, designed to capture a comprehensive range of information, including demographic characteristics, independent variables such as customer loyalty, and the dependent variable of organizational performance. The gathered data underwent analysis using Pearson's Correlation. The study's findings revealed a significant correlation between customer loyalty and the organizational performance of publishing companies in South-Western Nigeria, as evidenced by a Pearson's Correlation coefficient (r) of 0.715, significant at p < 0.01. In light of these results, it is recommended that publishing companies tailor marketing strategies that align with customer expectations, prioritizing transparency in pricing and delivering exceptional customer service. Additionally, strategic investments in programs fostering customer retention, repeat patronage, and resistance to switching to competitors are advised. This study contributes valuable insights to businesses aiming to optimize customer relationships and elevate organizational success within the ever-evolving landscape of the publishing industry.
Keywords:
Customer Loyalty, Organizational Performance, Publishing Companies, South-Western Nigeria.
