Banking- CRM Makes the Difference

GROUP MEMBER
RAVI RANJAN 106 GAURAV MARU 142 YAGNESH KAMATH 29 ANTONY PAULSON - 03

Many firms forget why they are in business. They are in business to add value to customers. This is how they grow the business and this is reflected in superior stock market performance. There is no other way

Peter Simpson former commercial & marketing director at First Direct

CRM
CRM is a business strategy directed to understand, anticipate and respond to the needs of an enterprise's current and potential customers in order to grow the relationship value. Its is a widely implemented model for managing a companys interactions with customers, clients, and sales prospects. Customer relationship management describes a company-wide business strategy including customerinterface departments as well as other departments.

IMPORTANCE OF CUSTOMER RELATION MANAGEMENT

Quality and efficiency Decrease in overall costs Increase Profitability

 By Entering into your premises, the customer is giving an opportunity to serve him, but you are not doing any

favor by serving him.

- Mahatma Gandhi.

GOALS REQUIRING CRM SOLUTIONS

Customer Identification Cross Selling / Up Selling

CRM Solutions Customer Satisfaction and Delight Customer Retention Customer Acquisition

CRM TOOLS
CRM Tools

Operational CRM ( Provides Required Information )

Analytical CRM ( Traces Activities )

The

true business of every company is to make and keep customers.

Peter Drucker, 1954

KEY PROBLEMS REQUIRING CRM SOLUTIONS

Lack of Software Systems Multiple Product Database

Multiplicity of Contact
Ineffective Tracking Mechanism Absence of Exclusivity

CRM SYSTEM TO BRIDGE THE GAP

LACK OF SOFTWARE SYSTEM MULTIPLE PRODUCT DATABASES MULTIPLICITY OF CONTACTS INEFFECTIVE TRACKING MECHANISM

CUSTOMER DATA OPERATION AL DATA COMMUNIC ATION DATA

UNIFIED CUSTOMER VIEW COLLABORAT ION TOOLS FOR EMPLOYEES CUSTOMER SUPPORT ACTIVITIES -Personalized offer - cross selling

CRM

Data Warehouse and Data Mining

The Relational Marketing process is supported by a computing infrastructure where many software packages are integrated with the bank's information system.

CRM IMPLEMENTATION
CRM CELL.

PORTFOLIO OF PRODUCT

CUSTOMER MATRIX

TECHNOLOGY

SURVEYS

CRM IMPLEMENTED IN INDIAN BANKS

PRESENT SCENARIO

BANKING SECTOR BEST SUITED TO CRM IMPLEMENTATION. IT PERSIST THE HIGHER GROWTH RATE UPTO 22%. CRM MARKET IN INDIA STILL IN NASCENT STAGE. CRM IMPROPER IMPLEMENTATION BY INDIAN BANKS. INDAIN BANK SHOULD FORMULATE THE STRATEGIC INCORPORATING PEOPLE,PROCESS AND TECHNOLOGY ISSUES.

CONCLUSION
BANKING INDUSTRY OF INDIA IS IN VOLATILE CHANGE DURING LAST DECADE.
CUSTOMER TODAY DEMAND UNIVERSAL BANKING WHICH IS SATIESFIED BY IMPLEMENTING CRM IN ITS TRUE SPIRIT. CRM IS AN INEVITABLE SOLUTION IN DOG EATS DOG COMPETETIVE MARKET.