CRM Strategies in Amazon, Dell & ICICI Bank

To: Prof. Gunjeet Kaur

From: Rishabh Jain, Rishika Maheshwari, Samreen Rahman, Siddhartha Singh & Sudeep Mehrotra

2012

Amazon Introduction The Amazon brand was born in the insight that the Internet could revolutionise the means to sell to consumers. The race to Internet success was funded by fanatical excitement that led to a basket full of bad practice in the chase for customers, with too many dot-com companies not creating value. Attracted only by the lure of deep discounts and free giveaways, consumers vanished once companies tried to improve margins. This was classic bad marketing thinking, not a revolution. By contrast, Amazon is proving to be category-leader in acquisition, sales and retention performance, with exceptional bonding levels, so demonstrating what the Internet is really about. Methodology Amazons interactive technology is smart. It's naturally focused on servicing the high value customers; its services naturally favour the regular shopper, while effective with the low value shopper. It can add up the margin on individual customers and knows their interests. When an existing customer comes online, Amazon practices the direct marketing principle of recognising the customer by using a cookie previously placed on their computer. As a result, Amazon personalises what the customer sees. For example, each customer will get tailored recommendations. These recommendations are generated using sophisticated statistical software that profiles the kinds of interests of each customer and also compares them with other customers, profiling them into similar groups. Each of the books and other products that Amazon carries also has category information about it, and of course there is the buying history of which customers are buying it. As a result, Amazon is more able to recommend books or other products that are likely to be relevant to that particular individual. Amazon makes use of one of the characteristics of the Web that is regarded as its particular strength. This is the ability to allow people to dialogue with each other. The way it does this is by allowing customers to review books and other products. Direct marketing has always aimed to involve the customer and this is a very powerful technique for doing so. Customers trust each other, often more than then they trust what they know to be advertising material. Amazon's investment is strategically focused on the high value or regular buyer. Most of Amazon's acquisition strategy has been based on PR, word of mouth (inevitably a practice weighted in favour of heavy buyer to heavy buyer) and Internet banners. Spending on

Internet banners favours those who are already online shoppers, thereby focusing spend on heavy users. Furthermore, the investment in quality has been instrumental in creating stunningly effective word of mouth. In the first three months of 2000 alone, during the high growth phase of the Internet, Amazon.com acquired 3 million new customers, with virtually no significant investment in recruitment. Where did they come from? The answer seemed to be word of mouth and street creed. 70% of category buyers thought Amazon was the bookstore setting the trend and 74% would recommend to friends.

Furthermore, what matters when it comes to customer loyalty is less the percentage of customers who keep returning than the percentage of valuable Amazon targets existing web users as their prime audience. Indeed, 40% of Amazon.com's customers are frequent users, compared with the category average - heavily weighted by Amazon - of only 8%. Since the web site is the major communication medium for the Amazon shopper, this inevitably means that frequent, highvalue buyers have more messages imprinted on them than infrequent and low value buyers. Since so much is invested in making it a positive experience, this means that investment is focused where it is going to count the most. Finally, one of the reasons why big brands are successful and most effective with regular shoppers is that they have ubiquitous channel distribution. Amazon achieves an equivalent through the convenience of buying online that it offers, especially as Amazon as we will see below makes it particularly easy for shoppers to buy. Through the combination of high consumer brand awareness, presence in the My

Favourites folder, a wide range of products and Amazons recognition of the online customer, within its world Amazon achieves the goals of targeted frequent communication, distribution presence and accessibility. Recommendations, newsletters, readers comments, product descriptions, search facilities, reminders and so on are key technology driven aids to differentiating the knowledge dimension of the customer experience. The investment in knowledge to obtain customer familiarity, e.g. by completing details about yourself or frequent purchase and the statistical algorithms that are applied to this as recommendations all make Amazon increasingly valuable, increasing loyalty. With greater expertise in the Amazon site, users can also get more value out of it. It is easy to use but rewards the regular shopper. Findings: Amazons CRM system depends on the following functional applications: 1. A relational database of customers, including a history of their purchases and activity, as well as the marketing activity of the brand (such as sending newsletters). This is the kind of functionality that we saw in session 3.5, when describing the marketing database. 2. A relational database of product information, including not only basic information such as price of also reviews, editorial and such like. 3. An order processing system, including financial processing, such as credit cards, linked to a back-end delivery system. In the case of Amazon, this includes automated warehouses. 4. A dynamic web page management system that can take standard information and formats and customise them to the customer. 5. An efficient and brand enhancing site design and appearance, including navigational tools and aids. 6. Automated communication systems, such as e-mail systems, order information systems, and message management while the customer are online, that ensure personalised, timely and relevant communication.

Conclusions: 1. Develop processes and tools that allow a thorough understanding of customer communities and the brand and ensure that this is available to and understood by all relevant executives and staff. 2. See customers as people to serve with relevant value propositions: bonded customers are more valuable, and bonding comes from trust and appreciation. 3. Be enthusiastic and passionate. Encourage communication and shared learning across the teams, have a win-win attitude and co-operate effectively with internal and external agencies. 4. Design and implement routines for collecting unduplicated customer data and elaborate them into relevant and timely information about customers that is available at the point of need 5. Focus on the most valuable customers and actively audit all available Touch points in order to optimise customer acquisition, retention and upgrade. 6. Ideas are the driving force of your brand and business. Ensure that your organisation/brand is motivated by an equally powerful and clear organising idea. One that connects customers and employees with a vision of achievable success. 7. There must an emphasis 3D-Worth: balanced benefits for customers, employees/partners, and the organisation. 8. The brand must provide value that no competitor offers and that the organisation communicates it clearly to everyone involved, internally and externally. 9. All parts of the brand service work together. The brand experience must be consistently of relevant value and service. All aspects of the business are designed around delivering the brand value promise. 10. There is a coherent set of values that the leaders transmit through the organisation. The brand appeals to people who have affinity with the values of the organisation. 11. Good leaders will motivate people, which is fundamental to success. 12. There is a constant dialogue with the customers whose return on investment is effectively measured.

Dell

Introduction

The computer industry encompasses computer software, computer hardware, as well as the production of computer components, assembly, logistics distribution, sales, marketing, and the provision of information technology services. Dell is in the business of manufacturing computers and servers. Its competitors are Hewlett Packard/Compaq, IBM, Apple, and Gateway. The new trend in the computer industry is to become a virtual corporation and Dell is leading the way. According to Dedrick and Kraemer (2006), Dell is aiming to combine the cost advantages of horizontal specialization with close coordination of vertical integration. In the early 1990s, Dell shifted gears and tried to distribute its products through retail outlets, later realizing how unprofitable this approach was. It decided to focus on improving customer service and support by allowing customers to place and custom configure orders directly. This resulted in a unique strategy, synonymous with Dell, customization. Nearly one out of five standards-based computer systems sold in the world today is a Dell. Dell has one simple concept: to sell computer systems directly to customers. Dell customers are global wide and range from individuals, small businesses, large businesses, and institutional organizations, such as schools and hospitals. The mission statement for Dell is to be the most successful computer company in the world at delivering the best customer experience Since Dell is a global wide company, its direct approach is relevant across product lines, regions and customer segments When Michael Dell started Dell in 1984, it was out of his dorm-room. He had limited cash and purchased most of the supplies needed to build his first computers after the sales were made. Well-established computer manufacturers like IBM had a lock on the computer market, where customers preferred to purchase products from retail outlets. This new idea of building-to-order and ordering over the phone was a major risk. The first obstacle was to create a need on part of the customer to desire the purchase of a customized computer. The second hurdle was having customers call a toll free number to order the product. Dell had to find a way to overcome these obstacles and then provide a service that would build a reputation for superior business to consumer efficiency

Dell is known for its innovative customer service and product custom configuration Dells collaboration with other computer software companies has allowed it to become a leader in CRM. Mission: To be the most successful computer company in the world at delivering the best customer experience

Dell Business Strategy: The Companys business strategy is based on its direct business model. The Companys business model seeks to deliver a superior customer experience through direct, comprehensive customer relationships, cooperative research and development with technology partners, computer systems custom-built to customer specifications and service and support programs tailored to customer needs Dell Direct Model.

The direct model is based on the principle that delivering custom-built computer systems is the best business model for providing solutions that are truly relevant to end-user needs. This concept, together with the Companys flexible, build-to-order manufacturing process, enables the Company to achieve faster inventory turnover and reduced inventory levels and allows the Company to rapidly incorporate new technologies and components in to its product offerings. In the same way that the Companys computer products are built-to-order, service and support programs are designed to fit specific customer requirements. The Company offers a broad range of service and support programs through its own technical personnel and its direct management of specialized service suppliers. These services range from online support to onsite customer-dedicated systems engineers. Dell is the first company, which starts the direct selling model to end users in computer market place. Following benefits give great competitive advantage to Dell Corporation: Eliminates the need to support an extensive network of wholesale and retail dealers Avoiding dealer mark-ups Avoids the higher inventory costs associated with the wholesale/ retail channel and the competition for retail shelf space

 Reduces the high risk of obsolescence associated with products in a rapidly changing technological market Allows the Company to maintain, monitor and update a customer database that can be used to shape future product offerings and post-sale service and support programs.

The Company develops and utilizes direct customer relationships to understand end-users needs and to deliver high quality computer products and services tailored to meet those needs. For large corporate and institutional customers, the Company works with the customer prior to the sale to plan a strategy to meet that customers current and future technology needs. After the sale, the Company continues the direct relationship by establishing account teams, consisting of sales, customer service and technical personnel, dedicated to the Companys large corporate and institutional customers. The Company also establishes direct relationships with small-to-medium businesses and individuals through account

representatives, telephone sales representatives or Internet contact. These direct customer relationships provide the Company with a constant flow of information about its customers plans and requirements and enable the Company to weigh its customers needs ag ainst emerging technologies.

Dell Direct Model

Dell goes- Dell.com (July 1996) Served its online customers with 12 sales reps and 2 order processors Cost cutting by eliminating the retail stores and spend those saved dollars on customer service and other after sale services in order to build great relationships with customers 500 million page visits per quarter to www.dell.com

Highlights for direct model and CRM: Contacting with the customer directly & capturing as much information as possible Eliminating middlemen Building computers based on customers needs .Engaging with customer on each touch point as productive & efficient as possible.

DELLS CRM STRATEGY:

Make segmentation and identify customers Listen to their customers Learn from customers Each member is a student who is responsible of learning from the customers.

CRM software at Dell: Three types of software that facilitate Dells CRM: Marketing automation software: Hotlink Custom designed Web pages containing purchase data: Premier Pages Data mining system that benefits the sales, marketing, financial and management segments of Dell: ProClarity

1. Hotlink: Marketing automation software. Effective targeting. Efficient marketing communications Real-time monitoring of customer and market trends Gives Dell free advertising

2. Premier Pages: Custom Internet sites, called Premier Pages, for various corporate and institutional customers, allowing these customers to simplify and accelerate procurement and support processes.

3. Pro Clarity: In-depth analytical abilities, resulting in highlighting positive and negative areas of business Enables Dell to measure trends and successes Sales management can track activity within accounts and lapsed quote scan be acted upon The marketing department can track customer activity, product sales and marketing mixes.

4. i2 Planner : e-business software meet its supply chain needs: i2 Supply Chain Planner i2 Collaboration Planner i2 Factory Planner

Implementation of a CRM-SCM Strategy A long-term relationship with the customer insures their repeat business. It costs more money to gain new customers than it does to retain current ones. Dells goal is to provide customers with their technological, as well as customer service needs. There are three types of software that facilitate Dells CRM: marketing automation software; custom designed Web pages containing purchase data; and a system that benefits the sales, marketing, financial and management segments of Dell. Before Dells concept of building made-to-order computers, people went to an electronic or retail store to buy computers. There was no interaction with the manufacturer, the salesperson of that particular store. These salespeople were not as knowledgeable about the product since they were not involved in building the computers. Dell pioneered the concept of interacting with the customer by phone or byway of the Internet to custom- build a computer specific to that customers needs and delivering that computer in a very timely matter. Dell created a supply chain management system that ensured that the right computer parts were always available when and where needed. Dell has developed a strong relationship with both its suppliers and customers that allow it to ensure that computer components are available from suppliers to meet customer demands. It also ensured that a system was in place to get the product shipped and delivered to the customer effectively and efficiently. The direct customers focus resulted in Dells competitive advantage.

Dell utilizes database software, which is effective and efficient with customer relationship management. These particular databases store tables of data that can be mined for information about clients and used to generate promotional campaigns. The databases would include customer information, their interests, and products. The customer database helps increase profits because the database contains client information that helps determine effective and efficient ways to target and segment the customers. Dells business strategy focuses on creating one of the most effective supply chain management systems via the i2, which would streamline the supply chain process by linking Dells suppliers and planners together to meet demand and customer requirements. The software that Dell uses to increase relationship marketing is made by Hotlink. Hotlink is a marketing automation software program used to aid e-

marketers in effective targeting, efficient marketing communications, and real-time monitoring of customer and market trends. This program strengthens the sales-customer relationship. This also gives Dell free advertising word of mouth. The bottom line to CRM systems is that it directly impacts its customer base, ensuring that better service is offered. A second type of software that Dell uses is a transparent online system called Premier Pages, which are custom -designed Web pages containing purchase data. This system also has a paperless ordering process, with the customers existing technology configurations already captured. The process of knowing the customer begins when the customer orders a PC. The PC is built after the customer orders it. This means that Dell has to have a direct relationship with the customer. The final system that Dell is using to maximize CRM is the Dell South Africas implementation of an enhanced CRM system with the help of IS Partners, an information systems company. ProClarity offers in-depth analytical abilities, resulting in positive and negative areas of business being clearly highlighted. Sales are also broken down by region, with an overview of each sales team, enabling Dell to measure trends and successes. Sales, marketing, financial and management segments benefit significantly from this software. The Dell staffs have easy access to the detailed demographic information about customers, customer sales history and trade relationships. Sales management can track activity within accounts, and lapsed quotes can be acted on. The marketing department can track customer activity, product sales, and marketing mixes. In addition, Dell deployed the e-Business software i2 Supply Chain Planner, i2Collaboration Planner, and i2 Factory Planner to meet it supply chain needs. This newi2 technology was used to coordinate the build-to-order processes from order placement to customer support. By using the software Dell is able to profile customers, target the musing their medium of preference, and also measure the results. Dell integrated the supply and demand side of the business by using unique software that would eliminate inventory overages. The i2 system enables Dell to pull material into its factories every two hours based on real time customer orders. This system tracks backlog numbers, stock status, and supplier commitments. It lets the supplier know what parts to deliver to which factories and be assembled to meet customer demand. By having an efficient CRM system, Dell is not only ranked No. 28 by Fortune 500, they have a persistent focus on delivering the best possible customer experience. Dell introduces the latest relevant technology much more quickly than companies with slow-moving, indirect distribution channels, turning over inventory every four days on average. The outcome of the new supply chain technology resulted in Dells lowest inventory levels in the industry. Real-time scheduling and just-in-time inventory results in efficient inventory turnovers and deliveries.

POINTS TO NOTE

Dell has a different way to provide computers in market place, in terms of the channels and quality of contact moments. That gives a great advantage Dell reducing its costs by using direct marketing methods. Therefore they can give build better customer relationships by using saved dollars from regular distribution channel. Dell has to keep contacting with customers to determine any change on customers purchasing behaviour and preferences. Dell has to keep an eye on rivals such as HP and IBM against any competitive move. Dells CRM strategy based on direct model is the best way to capture information about customers and analyze it. DATA IS THE KING in any CRM system as long as you know how to use it. High level of sales is the greatest indicator of success on CRM strategy along with customer loyalty and satisfaction

Conclusion: CRM-SCM integration strives to satisfy and promptly deliver products to customers, ensuring availability of the product and maintaining profitability of the manufacturer. There are many lessons learned from Dells experience. These lessons can be transferred to other companies in the industry. Ensure better customer service is offered: Dell has become an industry leader in service and reliability. Dell has used CRM to its advantage. This has instilled trust into their customers. By custom-building a computer that the customer desires, this has created a very strong relationship with the customers. Implement technology in a phased fashion: Dell tested key tasks in each of its regions prior to deployment. It set-up mock environments to develop, test, and support the i2 systems in patches without disrupting the live version. Dell was able to bring on one piece of the i2 system at a time. As one part became more efficient, then Dell added other components in stages. Dell ensured that each stage of the process performed will and allowed for future growth before rolling out the entire system. This minimized the risk, while at the same time increasing efficiency.

 Extend the connection from the customer to the supplier: Dell was able to extend its build-to-order model from suppliers to the customer while continuing to maximize operational efficiency and customer satisfaction. Customers were able to save money while being able to purchase a customized machine because Dell passed on the savings, which resulted from efficient inventory management, no excess inventory or inventory shortages. It was able to share, in real-time, information with suppliers about customer demands and buying pattern

ICICI Bank Introduction ICICI Bank Limited is an Indian diversified financial services company headquartered in Mumbai, Maharashtra. It is the second largest bank in India by assets and third largest by market capitalization. It offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialized subsidiaries in the areas of investment banking, life and non-life insurance, venture capital and asset management. The Bank has a network of 2,763 branches and 9,363 ATM's in India, and has a presence in 19 countries, including India. The bank has subsidiaries in the United Kingdom, Russia, and Canada; branches in United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai International Finance Centre; and representative offices in United Arab Emirates, China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia. The company's UK subsidiary has established branches in Belgium and Germany. ICICI Bank is one of the Big Four banks of India, along with State Bank of India, Punjab National Bank and HDFC Bank.

CRM Strategy Customers are the lifeblood of the business and the way in which a bank can protect and increase its customer base and ultimately its profitability is to build strong customer relationships through the delivery of superior quality service and to meet customer needs better than the competitors. The CRM approach focuses on maximizing value for the customer and the bank. Research has shown that the key drivers of customer loyalty are: Positive staff attitude Honesty, integrity and reliability Proactive advice and deliver of promise Consistent delivery of superior quality service Simplicity and ease of doing business Good after-sales service A fair effective complaints resolution policy.

Focus on ICICI Banks Initiatives The use of CRM in banking has gained importance with the aggressive strategies for customer acquisition and retention being employed by banks in todays competitive milieu. This has resulted in the adoption of various CRM initiatives by these banks to enable them achieve their objectives. The steps that banks follow in implementing CRM are: Identifying CRM initiatives with reference to the objectives to be attained (such as increased number of customers, enhanced per-customer profitability, etc.), Setting measurable targets for each initiative in terms of growth in profits, number of customers, etc. Evaluating and choosing the appropriate CRM package that will help the company achieve itsC R M g o a l s ( a c o m p a r i s o n o f p a y -

o f f s a g a i n s t i n v e s t m e n t s c o u l d b e c a r r i e d o u t d u r i n g t h e evaluation exercise).CRM has been deployed in retail banking. The challenges in managing customer relations in retail banking are due to the multiple products being offered and the diverse channels being used for the distribution of the products.

METHODOLOGY USED IN DATA COLLECTION:Retail banking refers to mass-market banking where individual customers typically use banks for services such as savings and current accounts, mortgages, loans (e.g. personal, housing, auto, and educational), debit cards, credit cards, depository services, fixed deposits, investment advisory services (for high net worth individuals) etc. Before Internet era, consumers largely selected their banks based on how convenient the location of banks branches was to their homes or offices. With the advent of new technologies in the business of bank, such as Internet banking and ATMs, now customers can freely chose any bank for their transactions. Thus the customer base of banks has increased, and so has the choices of customers for selecting the banks. This is just the beginning of the story. Due to globalization new generations of private sector banks and many foreign banks have also entered the market and they have brought with them several useful and innovative products. Due to forced competition, public sector banks are also becoming more technology savvy and customer oriented.

Thus, Non-traditional competition, market consolidation, new technology, and the proliferation of the Internet are changing the competitive landscape of the retail banking industry. Today retail banking sector is characterized by following: Multiple products (deposits, credit cards, insurance, investments and securities) Multiple channels of distribution (call centre, branch, Internet and kiosk) Multiple customer groups (consumer, small business, and corporate)

Today, the customers have many expectations from bank such as (i) Service at reduced cost (ii) Service Anytime Anywhere (iii) Personalized Service With increased number of banks, products and services and practically nil switching costs, customers are easily switching banks whenever they find better services and products. Banks are finding it tough to get new customers and more importantly retain existing customers.

ANALYSIS AND INTERPRETATION OF THE STUDY:1. Facts of CRM Initiatives: According to a research by Reichheld and Sasser in the Harvard Business Review, 5% increase in customer retention can increase profitability by 35% in banking business, 50% in insurance and brokerage, and 125% in the consumer credit card market. Therefore banks are now stressing on retaining customers and increasing market share. 2. Needs of a Bank The banks now need to find out what to sell, whom to sell, when to sell, how to sell and how to be different to increase profitability. Banks need to differentiate themselves by adding value-added service, offerings and building long-term relationships with their customers through more customized products, enhanced value offerings, personalized services and increased accessibility. Banks also need to identify customers and products that would be most profitable and target customers with products that are most appropriate to their needs and serve the customers with greater cost efficiency.

3. Utility of CRM in Banks Customer Relationship Management (CRM) primarily caters to all interactions with the customers or potential customers, across multiple touch points including the Internet, bank branch, call center, field organization and other distribution channels. The use of Customer Relationship Management (CRM) in banking has gained importance with the aggressive strategies for customer acquisition and retention being employed by banks in todays competitive milieu. This has resulted in the adoption of various CRM initiatives by these banks to enable them achieve their objectives. The steps that banks follow in implementing Customer Relationship Management (CRM) are: Identifying CRM initiatives with reference to the objectives to be attained (such as increased number of customers, enhanced per-customer profitability, etc.), Setting measurable targets for each initiative in terms of growth in profits, number of customers, etc. and Evaluating and choosing the appropriate Customer Relationship Management

(CRM) package that will help the company achieve its CRM goals.

FINDINGS:The use of Customer Relationship Management (CRM) in banking has been essentially done for the following purposes: 1. Targeting customers: It is necessary for banks to identify potential customers for approaching them with suitable offers. The transactional data that is generated through customer interactions and also by taking into account the profile of the customer (such as the lifecycle stage, economic background, family commitments, etc.) needs to be collated into one database to facilitate its proper analysis. For example, a customer interacts with the banks for savings accounts, credit cards, home loans, car loans, demat accounts, etc. The data generated through all these services needs to be integrated to enable effective targeting. After the integration is done, a profitability analysis of the customer needs to be undertaken to acquire an understanding of the profit-worthiness of the customer before targeting him with new offers.

2. Sales reference material: A consolidated information database on all products, pricing, competitor information, sales presentations, proposal templates and marketing collateral should be accessible to all the people concerned. These prove to be very helpful in Sales Force Automation (SFA) wherein the salesperson gets instantaneous access to all relevant material as and when it is required (especially when he/she is in a meeting with a client.) 3. Consistent interface with customers: The communication to customers from various departments like sales, finance, customer support, etc. should be consistent and not contradictory. Therefore, all departments should be privy to a unified view of the customer to enable a consistent approach. Removal of inconsistencies is necessary to ensure that customers are not harassed and frustrated owing to poor internal co-ordination. This is bound to enhance customer satisfaction. The contact centres used to interface with customers should ensure consistency in customer interaction, irrespective of the medium used for the interaction such as telephone, Internet, e-mail, fax, etc.

The Benefits of CRM 1. Customers usage pattern: ICICIs CRM data warehouse integrates data from multiple sources and enables users to find out about the customers various transactions pertaining to savings accounts, credit cards, fixed deposits, etc. The warehouse also gives indications regarding the customers channel usage. 2. New product development: Analysis at ICICI guides product development and marketing campaigns through Behaviour Explorer, whereby customer profiling can be undertaken by using ad hoc queries. The products thus created take into account the customers needs and desires, enabling the bank to satisfy customers through better personalization and customization of services. 3. Central data management: The initial implementation of CRM allowed ICICI to analyse its customer database, which includes information from eight separate operations systems including retail banking, bonds, and fixed deposits, and retail consumer loans, credit cards, custodial services, online share trading and ATM.

SUGGESTIVE STRATEGIES AS CRM INITIATIVES OF ICICI BANK:1. Mobile ATMs: Customers of ICICI Bank can access their bank accounts through mobile ATMs. These ATMs are kept in vans and parked at locations that have a high traffic of bank customers such as the commercial areas in a city or upmarket residential areas ICICI Bank now provides standard ATM facilities through ATM vans. This facility has been tried at Mumbai, Chandigarh and various places in Kerala during specified timings. 2. Bulk Deposits: The ICICI Banks Bulk Deposit ATMs enable customers to deposit large amounts at one time. Unlike conventional ATMs, which are able to accept only 30 notes at a time, these ATMs allow the deposit of huge amounts. The Bulk Deposit ATM is available in Mumbais Vashi sector branch office of ICICI. The bulk deposit facility can be availed of by select customers who need to deposit huge amounts of cash. ICICI Bank issues a special card called the `Deposit Only Card to facilitate this service. This card allows for deposit transactions only. The service is further facilitated by the provision of special bags at ATMs in which a customer can put his money. After the deposit slip is filled, the bag can be inserted in the ATM. The transaction slip is then generated by the ATM as an acknowledgement of the deposit. ICICI Bank also has cash pick-up service for business customers under the business banking segment. 3. ATMs for the visually challenged: ICICI Bank has launched ATMs with special voiceguided systems, which guide a visually challenged person to access ATMs without any help. The jack on the terminal enables headphones to be connected to it and voice commands enable the customer to transact business. Customers may choose a suitable language to get voice commands. After the language selection is done, the customer is guided to ensure that the ATM card is inserted in the right slot and thereafter, guidance is provided for entering the PIN by using the keypad. A raised button is provided on number 5 to enable users to identify the numbers easily through touch. The slot for cash collection has such raised `pips that enable easy identification through touch. 4. Other Services through ATMs: Apart from the usual transactions involving the bank, some other services can also be availed of by ICICI Bank customers.

These include: Prepaid mobile recharge Buying and renewing Internet packs (such as those of TATA Indicom Internet service provider and Sify). Mutual fund transactions, and Bill payments 5. Mobile phone as a Virtual Wallet: The mobile phone has been transformed into a virtual wallet a new innovation in mobile commerce. On September 19, 2005, Airtel, ICICI Bank and VISA announced the launch of mChq a revolutionary new service which is a credit card using the mobile phone. This is the first mobile-to-mobile payment option which enables Airtel customers and ICICI Bank Visa cardholders to pay for their purchases with their Airtel Mobile phones. The service has eliminated the need for carrying physical cash for making a purchase and also the problems associated with the point of sale (POS) terminal since the mobile phone services as a secure POS and a payment mechanism. 6. Social Events: ICICI Bank organized the largest domestic invitational amateur golf event for HN1 (high-net-worth individuals) customers. This nation-wide golf tournament had over one lakh high-net-worth clients of ICICI Banks private banking division participating in the event. 7. Mobile Banking Benefits: Mobile banking enables the customer to avail of many facilities by just sending an SMS. These facilities, which are currently offered free of cost, are as follows: Locating ATM Locating branch Locating drop box Alert facilities like salary credit, account debit/credit, cheque bounce, etc., and Queries on banking, cards and demat account

CONCLUSION: CRM has proved its importance in banking sector and has shown the effect of it by increase in the customers an example of it the ICICI bank has grown up like anything as compared to the other banks. ICICI bank has captured almost all the core areas of banking and has shown the effect of CRM on its services. It is observed that banks lose their best clients to competitors due to a variety of reasons. The rationale behind losing their best clients to other service providers such as inefficient and improper service is one major reason. Hence, the bank should adopt customer relationship building approaches such as responding to complaints instantaneously, analyzing the attrition of the clients in a particular product, and rating of services across the network of branches, and the creation of a suggestion box to elicit the views and suggestion of their employees. Another dimension of the relationship building exercise is to obtain an electronic feedback from customers to understand the level of acceptance of existing products, which will facilitates in developing better products. Satisfied customers are the best guarantee for the stability and growth. Customers will be satisfied only when the banks provide the customized and innovative products and services at responsible cost.