Impact of Relationship Management on Customer Loyalty of e-Wallet Users: A Study of Paytm Enterprise

Abstract

The success of any organisation depends on customized strategies, and its dedicated team to implement the strategies, without which an organisation may fail. In order to achieve increased and sustainable results, organizations need to execute strategies and engage customers to retain them. The focus of relationship management is to keep and retain existing customers and not focusing on new ones. Retained customers many times work as the catalyst for the new customers as they share their experiences with them. This study is all about the effects of relationship management strategies being implemented by Paytm Enterprise to retain the e-wallet customers. In other words the aim of the study is to check the impact of relationship marketing strategies on customer loyalty. To conduct the study four independent variables reliability, dedication, conversation and handling of customer issues were checked on one dependent variable, i.e., customer loyalty. A well-structured questionnaire was developed to collect the responses through purposive sampling from 151 respondents of Varanasi city. Data was analysed by the means, standard deviation, and multiple regression. Results of this study show the correlation between relationship management and customer's loyalty. On the basis of the results it can be concluded that the regression model is good fit. In order to have loyal customer in Paytm Enterprise, the marketer needs to build a solid relationship with the customer by focusing on these independent variables.