Deploying the Customer Relationship Management (Crm) in Retail Banking

The Royal Bank of Canada using CRM and customer profitability tools to gain a competitive advantage in Canada's increasingly crowded financial services market.

CRM systems consist of history purchase and information of customers. It can help track customer more easily. It can reduce the process time and increase productivity.It will resist the activities of competitors attempting to attract customers’ patronage. Customers will loyal and would not switch

From an organizational and profitability standpoint, an efficient, easy to use, and unified CRM system, captures all key and critical data from sales and marketing to commercial operations, all the while focusing on sales process, sales efficiencies, and increasing sales, all contributing to the bottom-line profitability of the organization. Data has proven that CRM platforms increase the productivity and profitability of individual departments and subsidiaries, these same platforms and characteristics will have the same ramifications on a larger scale organization, especially an organization that spans the global footprint, such as

Diamond Cluster Entertainment is trying to build a solid relationship with their loyal customers. For the past few year customer satisfaction have declined

Chip Reeves, Director of marketing and sales addresses this issue by making systems easier to maneuver. Many companies and CIO's are struggling to determine exactly how to best mobilize critical applications that can bring measurable payback to the company but also limit the disruption to and administrative headaches in their user's lives. (O'brien, Marakas, 2011). Reeve's took into account, the customer's needs and the salespeople as well. Reeves was very focused on the CRM, or Customer Relationship management into account when suggesting products to streamline information for salespeople. Customer Relationship management involves four specific relationships which include: sales, service, quality, and support. Reeve's input a system that downsized the screens on the Blackberry applications to one page, which in turn led to more leads, an increase of about 50% and generated leads faster for salespeople.

Recent survey found that only 34 percent of customer service companies use latest technology for customer service management. On the other hand 66 percent of companies using notebooks, papers, and useless notes. In order to succeed, we must have proper tool to execute it. So, matt has to collect information about Datatronics CRM and he has to find out whether the staffs are using CRM properly.

Chen, I, J. and Popovich, K. (2003) Understanding customer relationship management (CRM). People, process and technology. Business process management journal, Vol. 9 No 5. Retrieved from http://cis.csuohio.edu/~ichen/CRM.pdf

An effective Customer Relationship Management (CRM) program can be used to identify, retain, satisfy and obtain customers by using technology to optimize strategies for understanding customers’ needs to manage business interactions with current, former, and prospective customers. Additionally, CRM also enables companies to maximize internal, external, marketing and customer service operations to better address the needs of the customer building a better relationship with customers that a more profitable. (Ahmad & Buttle, 2001)

Africa confided in Roeder that a number of his field consultants had not even bothered to respond to

The main goal of Customer relationship management is to create a strong bond between customers and the company. The strong bond can be build by focusing on the two main objectives of CRM. Providing the organization and all of the employees that treat customers with a single and complete view of every customer at every touch point and across all channels and providing the customer a single and complete view of the company and its extended channels (O’Brien, A & Marakas, G. 2004).

Today, customer relationship management is very important to the business world. Most of the companies established a department and the programs to manage their relationship with the customers. Customer relationship management (CRM) is a business strategy which designed to help a company to understand and look forward to the needs of its potential and current customers (Anderson & Stang, 2000). Customer data is being collected in several different areas of the company, stored in a central database, analyzed, and distributed to key points (Anderson & Stang, 2000).The business world once was “product-centric”, the companies just provided what they could produce. However, it is now become “customer-centric”, they provide products and service

Today, more and more companies find that cultivating customer loyalty is a key factor to achieve success. Customer relationship management (CRM) focuses on the relationship between customer and company. Due to this feature, many companies are trying to establish their own CRM system for helping them to connect new customers and boost old customers’ long-term loyalty. CRM systems include operations and analysis, and relationship marketing strategy and supporting, customer-centric business processes (Buttle 2004). With the development of information technology (IT), using CRM system

It’s very important to a business to have good customer relationships; CRM Software’s main objectives are to attract new customers while maintaining and satisfying their current customers and trying to win back the trust of former customers. Customers are one of the most important variables for a business owner to pay attention to, when trying to create a profit. Customer Relationship Management software keeps track of customer information to help the company maintain a strong relation with the customers. Good CRM Software brings together information from all databases within a company and gives

Customer relationship management (CRM) is widely implemented and centralized system which offers a place for interaction under a company. An employee can handle again the repeated problem which occurred in the past by re-investigate it. Besides, CRM provides a place to identify what customers wants. Employees can track customer’s expectation by their feedback and communication that can improve their buying experience and stay interact with customer in order to understand their true needs.CRM also has ability to let the company see the customer interaction in clear picture. Different customers from different segments require different products and services, but this complex situation can handle well by CRM. Furthermore, CRM provides quality and efficiency system in the company management that helps company achieves their success by building long-term customer relationship.

The lack of understanding of bank services at technological grounds in the great risk factor while implementing the CRM according to customer satisfaction.