Today, in the banking and financial services industry, the customer is empowered with choice. Brand loyalty is rare and likely linked to a mortgage, loan or some other contractual obligation. Financial services, like other business sectors, must consider performance enhancement initiatives that drive customer retention and lead conversion to their brand and services.
Ashish Tagade Research Paper Volume: Customer service management is a of selecting banking services in the competitive scenario key component of business today.
A well-planned CRM strategy will increase any company’s likelihood of success in meeting marketing, sales and customer experience objectives. However, if you’re a financial services firm, here are a few special considerations to take into account when implementing a CRM. Today, in the banking and financial services industry, the customer is empowered with choice. This Research Paper is brought to you for free and open access by the The Alan Shawn Feinstein Graduate School at [email protected] It has been accepted for inclusion in MBA Student Scholarship by an authorized administrator of [email protected] This paper deals with the role of Customer Relationship Management in banking sector and the need for Customer Relationship Management to increase customer value by using some analitycal methods in CRM applications. CRM is a sound business strategy to identify the bank’s most profitable customers.
The concept is very crucial as and the major problems faced by the customers as well as it incorporates customer, customer service, customer satisfac- the banks. Customer tors mean that there are fewer new customers to go around. Relationship Management CRM is a fundamental business of The costs of attracting new customers are rising.
Customer Relationship Management is a tant, the emphasis is shifting towards retaining profitable vital factor to improve the performance of the banks. Customer customers and building lasting relationships with them.
To serve more customers and to retain the existing nary pilot study followed by the main study. The major part customers, banks in India have changed from the old concept of of the study is based on primary data.
Study Area The Salem district has been chosen for the purpose of study be- A customer is the core component in the banking industry. In such a situation, customer satisfaction is the key Websites, Bank Publications, Manuals, and Booklets etc. Maximum numbers of executives hope and and time taken services of CRM in banks.
They are very trust the CRM increased the number of customers.
A CRM much aware of initial strategies. So, customer interaction for materialization of customer satisfaction. The first establishing electronic re-contact, timistic relationship between customers and executives. So, the second place of technology and CRM finally third place meticulous care must be taken by the industries to adver- of customer service strategy.
The technologies fought with tise their services. This enables the industries to improve the quality of ser- v There are six factors included under the customer satisfac- vices. The qualitative approach and proportionate should tion to increase the customer satisfaction, materialization be taken care for their customers.
This move will be vital reducing the stained relation- So, executive training programmes must be pe- It creates deep and wide impact on customers and make in deep in roads in identifying the lucrative move of the industries.
Personal details of customers like gender, age, edu- cation qualification are essential in determing in essential to perform better for all the industries in fact it gives maximum credit and gains to the industry for the future.
John Wiley and Sons. Anand U and Sohal T.This paper deals with the role of Customer Relationship Management in banking sector and the need for Customer Relationship Management to increase customer value by using some analitycal methods in CRM applications.
CRM is a sound business strategy to identify the bank’s most profitable customers. Customer Relationship Management and its potential to help them acquire new customers retain existing ones and maximizetheir lifetime urbanagricultureinitiative.comg sector is a customer-oriented servicewhere the customer is the KEY focus.
Customer Relationship Management: Strategies And Practices In Selected Banks Of Pakistan CRM in the banking sector is of greater implementation of CRM.
Field of Research: Relationship Management 1.
Introduction Over the last 5 years, Pakistan witnessed a phenomenal growth of consumer. The aim of research, presented in this paper, is to assess to benefits of Customer Relationship Management is a specific management process which must Adoption of CRM concept in the banking sector requires jointly effort on three areas: operational, analytical and organizational (Payne , 23).
Research Paper Volume: 2 | Issue: 11 | November • ISSN No - Commerce A Study on Customer Relationship KEYWORDS: CRM, Bank, Customer Management Practices in Banking Sector Service Management, Customer (with Special Reference to Salem District) Knowledge Management.
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