Use of customer relationship management CRM in microfinance industry

Use of customer relationship management in Cameroon Microfinance Industry

Staffordshire University

Msc. in Technology Management

Use of CRM in Cameroon Microfinance Industry



Key microfinance business challenges include building volume, keeping loan repayment rates high, and retaining customer.

From 1970s, microfinance innovators have been developing important solutions to these issues.

Some have built huge organizations that serve a large number of clients and have demonstrated an impressive capacity for change.

Microfinance needs to be aligned with strategies that can help MFIs to cope up some challenges regardless the business environment.

Use of CRM in Cameroon Microfinance Industry

Thus, CRM has been a favoured theme for various studies and reports.

The use of technology and human resources has been a way out to understanding the behaviour, value and attitudes of customers.

Though Cho et all (2002), and Gupta and Shukla, (2001) argued that the tool could help companies to provide a better customer service, increase customer satisfaction and help Marketing Staff close deals faster, it should be better to enable a holistic approach to managing the entire business strategy that is customer-satisfaction oriented.

In perspective to achieve the research objective, a qualitative research approach was used, and a quantitative approach was adopted.

The qualitative data were re-coded in such a way that it can be inputted and analyzed into the SPSS program.

The research elaborated the questionnaire that dealt with some significant areas such as; General Information, CRM Objectives, Strategy Setting, Implementation Initiatives, customer relationship management Components, Project management and CRM Success Criteria and Evaluation.

The author pointed out a CRM Framework in a bid to introduce a new paradigm to the research area.

This framework consists of three key elements like; Government, Private Investor, and Performance Evaluation Metrics; and was drawn from the ideology of past CRM frameworks from Payne and Frow (2006), Dasai et al (2007) and Forrester (2008).

To customer relationship management CRM be used in microfinance industry in Cameroon so as to enhance the customer loyalty and value, the author stands that the Government should provide a friendly business environment to help private investor to develop a customer-satisfaction culture.

Performance evaluation metrics should clearly evaluate their respective activities.


I give all glory and praise to Almighty Jesus Christ for His grace and mercies towards me that helped me out to achieve this project without major physical issues like illness.

I would like to be grateful towards my supervisor, Ms Margaret A/P Subramaniam and Advisor, Mr. Hiew Yiew Peng for their kind advice and constructive criticism on the research which unveiled the latent research skills in me. The knowledge you have both impacted in me will positively affect my future in terms of management skills..

To my wonderful parents, Mr. and Mrs. Tankeu, your role as enablers in making me mature is really appreciated.

I will ever be grateful for your moral, financial, spiritual supports for me throughout the course of my Masters Program. May God continue dwell His mercies and strengths upon you.

To my Siblings Ange (and his wife, Larissa), Nina, Jules, Gerard, Carrine and Alain, I really appreciate your prayer and support for me. To my fiancée Tatiana Wandji, I want to re-assure you of my commitment to making real all our plans.

Lastly I would like to pay tribute to all my friends here in Malaysia especially Etienne, Olivier, Jean Paul,  Femi, Yusuf, and Chidi.

You are wonderfully appreciated.



1.0    Introduction to Study11

1.1    Project Background

1.2    Research Problem

1.3    Research Question

1.4    Project Aim and Objectives

1.5    Significance of Study

1.6    Methodology

1.7    Outline of the Research

1.8    Limitations

1.9    Conclusion


2.0    Introduction

2.1    Understanding Relationship Management – CRM

2.1.1    Definitions

2.1.2    Origin and Emergence of Relationship Marketing

2.1.3    Relationships are Strategic    Strategic Relationships through Stakeholders    Relationship Value

2.1.4    CRM and the Customer Differential    Origin, Emergence, Change, and Aim of CRM    Competition Differentiation    Heightened Customer Expectations    The Key Concepts in Relationship Marketing

2.1.5    CRM Applications and technology

2.1.6    Classification and Components27

2.1.7    Setting a CRM Program

2.2    The CRM Frameworks / Models

2.2.1    The IDIC Model

2.2.2    The Quality Competitiveness Index (QCI) Model

2.2.3    The CRM Value Chain Model

2.2.4    The Payne’s Five Forces Model

2.2.5    The Dasai et al / Conceptual Model

2.2.6    The Forrester Model

2.2.7    The Maturity Model

2.3    What is Microfinance?

2.3.1    Definition and Characteristics

2.3.2    Evolution in Microfinance Industry

2.3.3    Microfinance in Cameroon

2.4    Limitations and Gaps

2.5    Theoretical Frame of reference

2.5.1    How well are the customers segments understood and individually serviced?

2.5.2    What relevance will CRM tool the Management towards value delivery that can create loyalty and satisfaction?

2.5.3    Can CRM be implementable in Cameroon MFIs in order to produce appropriate results?

2.6    Emerged Frame of Reference



3.1    Introduction into the Research Method

3.2    Research Strategy

3.2.1    Quantitative Research

3.2.2    Qualitative research

3.2.3    The Mixed Method or Triangular Approach

3.3    Data Collection

3.3.1    Survey

3.3.2    Population

3.3.3    Questionnaire Instruments and Layout

3.4    Pilot Testing

3.5    Validity

3.6    Response Rate

3.7    Data Analysis Methods used

3.8    Ethical Considerations

3.9    Confidentiality

3.10    Informed Consent

3.11    Research Design and Procedures

3.11.1    Case Study or “Now” Design

3.11.2    Correlational Design

3.11.3    Experimental Design

3.12    Conclusion


4.1    introduction

4.2    Characteristics of Respondents

Final Questionnaire Usability Based on Responses from the Three Categories of MFIs in Cameroon

4.3    General Information

4.3.1    Position of Respondents

4.3.2    Number of Employee in the Company

4.3.3    Perception on CRM Meaning

4.3.4    Categorization of Companies in terms of CRM Implementation Stage

4.3.5    Medium Used to Interact with Customers in terms of Services and Feedback

4.4    Objective Setting/Strategy Development

4.4.1    Main Objective of CRM Project

4.4.2    Usability of CRM as Tool to enhance Customer Value in Cameroon

4.5    Dynamic Capability of CRM and Multichannel Integration

4.5.1    Company Online Presence

4.5.2    Websites Services

4.6    Customer relationship management Project management

4.6.1    Estimated Cost of CRM Project

4.6.2    CRM Implementation Time Frame

4.7    Information Management

4.7.1    Microfinance Institutions Tools

4.7.2    CRM Project Components

4.8    Readiness Assessment and Evaluation

4.9    Conclusion


5.1    Introduction

5.2    The Theoretical CRM Framework

5.2.1    The Government

5.2.2    The Private Investor    CRM Objective/Strategy    Employee/Management Involvement    Multi-channel    Information Technology Set-up    Customer Information and Intelligence Warehouse

5.2.3    The Performance Evaluation Metrics

5.3    Comparison between Existing Frameworks and the Artefact

5.4    Evaluation of the Artefact


6.1    Introduction

6.2    Research Question Review

6.2.1    How well are the Customers Segments understood and individually services in Cameroon Microfinance industry?

6.2.2    What relevant tool to be offered by the Management towards the value delivery that can create loyalty and satisfaction?

6.2.3    Can CRM be usable in Cameroon MFIs in order to produce appropriate results in the competitive business environment?

6.3    Recommendations and Suggestions

6.4    Limitations

6.5    Self-Review

6.6    Further Research

6.7    Conclusion



List of  Tables

Table 2.1    Gartner’s CRM Performance Scorecard

Table 2.2    Gartner’s CRM Maturity Model for Enterprise

Table 2.3    Data collected during the FSAP Mission

Table 4.1    Distribution of Usable Responses corresponding to the MFIs Category in Cameroon

List of figures

Figure 1.1    Research Design outline

Figure 2.1    Customer Expectations driven by CRM

Figure 2.2    Various Types of CRM Solutions

Figure 2.3    CRM Technical Architecture

Figure 2.4    Customer Relationship Model

Figure 2.5    Customer Retention Program

Figure 2.6     IDIC Methodology Model

Figure 2.7    QCI Customer Management Model

Figure 2.8     CRM Value Chain

Figure 2.9    Strategic Model for CRM

Figure 2.10    Conceptual Model

Figure 2.11    Forrester CRM Model

Figure 2.12    CRM Performance Scrorecard

Figure 2.13    Different Frameworks Summary

Figure 2.14    Average Deposit Relative to GDP per Capita in the CEMAC region

Figure 2.15    Emerged Frame of Reference

Figure 3.1    Methodology Framework

Figure 3.2    Data Collections Methods

Figure 3.3    Questionnaire Design Process

Figure 3.4    Research Design Outline

Figure 4.1    Position of Respondents expressed in percentage

Figure 4.2    Microfinance Sizes expressed in terms of their employees numbers

Figure 4.3    Perception of respondents on CRM definition

Figure 4.4    Percentage Representation of Enterprise position on CRM implementation

Figure 4.5    Medium through which Companies interact with their Customers

Figure 4.6    Top Three Ranked Objectives of CRM expressed in percentage

Figure 4.7    Perception of Respondents on CRM feasibility in Cameroon

Figure 4.8    Percentage of Enterprise’s Online Presence

Figure 4.9    Services delivered through Respondents’ Website

Figure 4.10    CRM Project Cost expressed in percentage

Figure 4.11    Perceptions on CRM Implementation Time Frame

Figure 4.12    Considered CRM Components

Figure 4.13    Readiness Assessment of Microfinance Operators in Implementing CRM from the use of Gartner’s Principle

Figure 5.1    Theoretical Framework

Figure 5.2    Artefact and Existing Frameworks

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Staffordshire University - Msc. in Technology Management
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1 réflexion sur “Use of customer relationship management CRM in microfinance industry”

  1. Pls show me how to get this document. The content seems to be all things that I need to research on deploying CRM in VietNam Telecoms National

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