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Krishnamohan ksrm college of management studies in todays highly competitive business environment companies are not capable to longer survive with a transactional attitude towards customers.
What is customer relationship management why is it so important to manage this relationship. Customer relationship management has become inevitable for growth and profitability of banks in present scenario marked by rising competition technological advancement and empowered customers. Customer relationship management and its potential to help them acquire new customers retain existing ones and maximizetheir lifetime valuebanking sector is a customer oriented servicewhere the customer is the key focus. Innovative customer relationship management crm strategies and cutting edge software can help to a great extent in achieving the desired.
Minai aa bar yam y. Crm concern the relation between the organisations along with its consumers. Munaiah rayalaseema university g.
Customer relationship management in banking sector what more needed. Customer relationship management or crm refers to the technology that banks and other businesses can use to provide customer service generate sales lead their marketing efforts and analyze performance data. The bank wise number of respondents is show below.
The importance of customer relationship management in banks lies in how it builds better relationships with customers. To retain high net worth individuals banks should focus strongly on relationship management with customers. Consumers are the means of support of any business in a universal business with thousands of workforce and a multi billion earnings or a single broker with a handful of standard consumers.
Customer relationship management in banking sector j. Customer relationship management crm is an vital division of modern business organization. They have to focus their marketing.
2008 customer relationship management in banking sector and a model design for banking performance enhancement. Competition and globalization of banking services are forcing banks to productive and profitable. Research is needed in such sector to understandcustomers need and attitude so as to build a long relationship with them.
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