In the magic land of CRM in bank management: Needs and strategies for sublime customer satisfaction
Summary :
Table of Contents
- Introduction
- Resurgence of CRM initiatives
- Reforms in the financial sector
- Services provided by software manufacturers
- Technology components assisting CRM
- Exploring visual communication
- Use of CRM consultants
- Technology and strategic consulting
- Conclusion
- References
Abstract
Irrespective of whether it is a public sector bank or a private sector bank; a regional rural bank or a foreign bank all banks commonly store details of tens of thousands of customers and prospects - both in a corporate database and in discrete documents on the desktops of individual bank staff. Retrieving customer data to support targeted marketing activities in this environment has traditionally involved sorting hard copy by hand, which is time-consuming, inaccurate, and increasingly cost-prohibitive. Hence the banks devise software, which would mitigate this task of customer relationship management solution, to take full advantage of their valuable customer data. It also provides a way to quantify a campaign's success and aids in planning future marketing strategies, better work flow tracking and management, considerable increase in the speed of the marketing campaign planning process, greater cost efficiency with improved ROI, easy monitoring of multiple marketing campaigns and improved workflow management.
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