Retention strategy device for recovering lost customers of united bank of Africa in Ado-Ekiti

The study examined retention strategy: a tool of recovering lost customers of UBA in Ado Ekiti. The specific objectives are to: determine the effect of birthday message on recovering lost customers; examine the effect of interest rate on recovering lost customers; determine the effect of innovative product on recovering lost customers. A descriptive survey research design was adopted for the study. The population of the study comprised UBA customers in Ado Ekiti. The sample size was 399 which were selected through Yamane sampling Model. Primary data used for the study were gathered through structured questionnaire. Questionnaire was used to elicit information from the target respondents. Data gathered were analyzed using regression model. The result showed that product birthday message positively affect recovering lost customers as it was significant on recovering lost customers (t=7.685, t=1.103, p<0.05); it further showed that interest rate affects recovering lost customers as it was significant on recovering lost customers (t= 5.871, t= 1.769,p<0.05); furthermore, it showed that innovative product affect recovering lost customers positively as it was significant on recovering lost customers (t=2.659,t= 6.804, p<0.05). Thus, it concluded that retention strategy positively affects recovering lost customers.