Business Problem-Solving Case: Citizens National Bank Searches for a System Solution
Case Study Questions
1. What was the initial problem that Mark Singleton was trying to solve at Citizens National? How well did he apply the four steps of problem solving?
A major part of Citizen National’s strategy for continuing growth was to implement customer relationship management (CRM) software. The CRM strategy targeted the bank’s two main contact points with customers: the bank’s call center and its sales force. The main goal for the implementation was to increase sales by raising the number of contacts relationship bankers were making and improving the tracking of these activities so the bank could learn more from them.
The
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2. What was the business case for implementing a new system? What were some of the tangible benefits? What were some of the intangible benefits?
Citizens National Bank of Texas wanted to continue increasing its market share to at least 50 percent in eight counties in the state. It planned to use customer relationship management software to help improve its call center and sales force. It targeted its relationship bankers that drive most of its business and increase loan sales and deposits.
The main goal for the implementation was to increase sales by raising the number of contacts the relationship bankers were making and improve the tracking of these activities so that the bank could learn more from them.
Tangible benefits: approve credit and loan applications more quickly; store interactions between relationship bankers and customer electronically.
Intangible benefits: the old paper system allowed salespeople who left the organization to take their customer records with them. The new system would prevent that. The paper system also created too much information for the CEO and managers to process effectively.
3. Why didn’t the implementation of the Siebel CRM solution work out for Citizens National? What were the biggest factors? How would you classify these factors in terms of organization, technology, and people issues?
The business was too small to effectively use a system designed for larger organizations. The union of old-fashioned business
Increased transparency and accountability because each transaction in the system identifies User IDs that entered the transaction.
1) It increases the speed of access to financial information and greatly reduces re-entry of data.
Based on segments, customer centric offerings are to be offered. Each customer has their own liking and disliking as well as proper planning. The right time to offer also plays an important role. This will avoid unnecessary mailers/calls to be made. Customers normally tend to ignore mass mailers and emails which are sent on regular intervals as they feel that they are junk mail. It is also important to determine the best channel of communication the customer is most likely to respond to. Valuable resources and time is saved and also frees marketing resources to concentrate on other customer and plan for newer programs. Overall, we can work with our customers on helping us improve our customer service and provide the quality service that the customers deserve. It is in this endeavor to have a sustaining model to keep the customer engaged throughout their relationship with the bank for growth and profits in the long run.
The Royal Bank of Canada using CRM and customer profitability tools to gain a competitive advantage in Canada's increasingly crowded financial services market.
1. Analyze the changes that Al Dunlap had initiated at Sunbeam after being hired from a strategic perspective. Did the changes started by Dunlap allow him opportunities to manage earnings?
From an operational viewpoint, banks are trying to incorporate technology in their product offerings, such as advanced banking and financial-related mobile applications. Innovations are made with the assistance of learnings from customer information and data analysis, which are an essential part of analytical CRM. The strategic view also suggests that banks are building a social presence on online platforms to enhance customer engagement and build a long-term relationships with their customers. The above approaches can clearly be identified when looking at CBA and NAB customer relationship management strategies. With its high-tech ATMS and state-of-the-art Commonwealth mobile app, CBA has full product leadership in the market, enabling them to have a competitive advantage when attracting new prospects or customer retention. On the other hand, NAB use customer intimacy as their core CRM strategy, cutting their product offerings in half and make consumers more centrally focused. They are very responsive in customers' needs and wants; and is the leading brand when it comes to customer
A need to reduce staff costs - having a new system that can carry out the same job as employees has become a popular drive for a new system in an organisation, which
What is Nick Gibbons’s vision in this case study? How is it similar to or different from the vision of the owners of the paper? Discuss the unique challenges a leader faces when required to implement a vision of his or her superiors.
Bata uses sales management and customer support in the CRM system to gather data about their customer and used to facilitate customer service transactions by making the information needed to resolve the issue or concern readily available to those dealing with the customers. This results in more satisfied customers, a more profitable business and more resources available to the support staff. Furthermore, CRM systems are a great help to the management in deciding on the future course of the company. (Andrew, 2011). In order for Bata to increase their profit they are trying to maximize their customer
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
The project sponsor (John Hart) had extensive industry experience and had identified the need for a corporate marketing database to target the corporate customers who brought in the majority of the revenue and profit for FNB. This new database was proposed in order to consolidate information from three different banking divisions –
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)
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 merging of the customer data from sales and the call center interactions has created the more informed interactions with the customer (Petersen, 2004). The concept rang with the user organizations and mergers and acquisitions created a host of software that the vendors claimed to have an integrated set of capabilities that became known as customer relationship management (Petersen, 2004). Companies wanted to learn more about each and every individual customer and use the information to effectively take care of and manage their relationships, and yet increased customer satisfaction and profit.