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Crm In The Banking Industry. The five ... revenues. CRM in the banking industry
is a critical part in really getting to know the customer. By ...
... Within the American banking industry First American Corporation (FAC) introduced
a ... for requiring correct information to answer these CRM questions, from a ...
... management (CRM) tool to communicate and cross sale their diversified products and
services to masses. Industry Structure Despite growth in banking branches ...
... and support excellence by customers, industry organizations, research ... 1 for online
banking in the first quarter ... group of companies' unique CRM strategy enables ...
... However, as the banking industry involved and ... technological advancements re-shaped
the industry. ... a customer relationship management (CRM) technology which ...
Submitted by colleges on April 29, 2008
Category: Miscellaneous
Words: 808 | Pages: 4
Views: 118
Popularity Rank: 81,695
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The five functions of CRM are sales, marketing, support, finance and executive. Some examples that would fall in the sales category would be lead/prospect generation, qualification, distribution, tracking, analysis, reporting, meeting planning, proposal generation and support, and competitive analysis. Some examples of marketing would be campaign management, literature fulfillment, marketing penetration and segmentation, event planning, analysis & reporting, database marketing, list management, product development and support, and RFP support. RFP categorizes customers in detail through three aspects recency, frequency, and monetary. Examples of support would be phone/web/email interactions, help desk, order entry, statements and invoices, credit and collections, web self-service, live-chat, problem resolution, customer implementation, and field support. Examples of finance would be customer profitability analysis, pipeline reporting, statistical analysis, and product launches. Examples that would fall in the executive category would be sales & marketing reporting, analysis, trends, graphs, and summary. Every function of CRM is considered important to a company in implementing a successful CRM system. Customer Relationship Management (CRM) is a customer-centric business strategy with the goal of maximizing profitability, revenue, and customer satisfaction. Technology to support CRM initiatives must be integrated as part of an overall customer-centric strategy. Many CRM initiatives have failed because implementation was limited to software installation without alignment to a customer-centric strategy (http://wikipedia.org/wiki/Customer_relationship_management).
The chart below shows the functions that CRM is involved in as mentioned above. (http://crm.manufacturer-supplier.com/)
The goal of CRM is to help businesses use technology and human resources...
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