Impact of customer motivation on profitability of financial Essay

Impact of customer motivation on profitability of financial institution in Oman - Essay Example Without these people this work would not have come to a smooth completion. May the Almighty Allah bless you all and protect you. Research findings have potent that customer motivation is an essential ingredient in the performance of a financial institution all over the world. It has been shown by business research that well satisfied customer’s guarantees at least 2% increment in business profitability by the end of every trading year. Customer satisfaction reduces the cost of business operations on advertizing by over 5% every year according to research findings. This is because a satisfied customer is an advertisement to a business by itself. This research study is aimed at finding the motivational tools used by financial institutions in Oman in achieving their financial objectives. The objective of this study is to evaluate customer motivation techniques in Oman banks and other financial institutions. It focuses on the influences of these motivations to the achievement of these institutions goals and objectives. Business experts have agreed to the fact that businesses that invest in customer motivat ion more often than not makes high profits than those that do not. Over a long time financial institutions have adopted the idea of treating customers as assets. This has therefore necessitated the need to measure the value of the customer and the value customer by financial institutions. This also has provided several institutions with the need to identify opportunities for the growth of the customer value and the return of investment on customer base and loyalty to an institution. Such findings often are seen as the basis of employee actions in the creation of the values that attracted and increased the customer base in an institution. The achievement of such objective requires the development of appropriate incentive