Customer Relationship Management Case Royal Bank of Canada

2227 Words Sep 20th, 2013 9 Pages
Allice Sharon Carine Bourgeaux Nur Afidah Stephanie Courtadon

Customer Relationship Management Case ROYAL BANK OF CANADA

Developing and Implementing CRM Strategies Royal Bank of Canada

I.

A GLANCE LOOK OF RBC (Royal Bank of Canada) The Royal Bank of Canada is the leading financial services provider in Canada. It has a $ 165 million asset, $ 1 billion profit. The service from this company relates with a huge amount of customer, for their customer base reach over 10 million and 1.3 million of them already use alternative banking channel like internet or telephone as well. To deliver the service for RBC customer, they operate nearly 1400 branches and 4200 ATM. To satisfy their customers, RBC made an approach of developing new
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As mentioned in Customer-relationship Management (Buttle, 2009), customer-related databases are the foundation for Group 1 Service Marketing | Allice Sharon, Carine , Nur Afidah & Stephanie 3

Developing and Implementing CRM Strategies Royal Bank of Canada

the execution of CRM strategy. To perform well, it is required for any company to properly acquire, enhance, store, distribute and use customer-related data. In the current condition of RBC, it is mentioned that they already started the initial CRM strategy. Unfortunately, the system was not sufficient to deliver RBC s customers expectation. It was recognized that some previous assumption done by the system were faulty. Therefore they need to do consider further analysis; they will be maximizing value within the system itself. Development of the CRM strategy starts with a situation analysis as follows:  Customer/ Segments  Market Offering : Top three segments some of the more significant pay-offs : Ability to deliver financial statements on assets, liabilities, equity, income & expenses, contingencies, inter-company transfers  Channel  CRM Vision : Direct, by using integrated system with RBC IT infrastructure : To provide behavioral-based solution focused on the customer and account

IV. DEVELOPING, MANAGING & USING CUSTOMER Define the database functions
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