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Abstract
The business of banking can neither function without customers nor does just acquiring a certain number of customers do the business. It is a continuing process of transactions culminating in a long term banker-customer relationship. Banking institutions thrive more on keeping old customers happy rather than getting new customers. No banks can possibly meet all the needs of its customers given to the diversity of their wants. In such a situation the secret key factor of the bank's success is effective Customer Relationship Management. CRM is being increasingly used to identify, attract and retain most valuable customers that help business to sustain profitable growth, successful banking companies are achieving long term performance in customer relationship management by gaining deep insights about their customers which help them design product/ service offerings that match or exceed the customer expectations which in turn help in building customer trust and gain loyalty.
Key words:
Customer Satisfaction, Services Rendered, Customer Relationship Management (CRM), Occupation.
A customer is the core component in the banking industry. The business of banking can neither function without customers nor does just acquiring a certain number of customers do the business. It is a continuing process of transactions culminating in a long term banker-customer relationship. Banking institutions thrive more on keeping old customers happy rather than getting new customers, no banks can possibly meet all the needs of its customers given to the diversity of their wants. In such a situation the secret key factor of the bank's success, is effective CRM.
CRM is neither a product nor a service, but a business strategy designed to optimize profitability, revenue and customer satisfaction. CRM is a paradigm shift from 'product centric' and 'mass marketing' to customer centric way of business. It is an integrated business strategy that places the customer at the center of business consciousness. It is comprehensive strategy and process of acquiring, retaining, and partnering with customers to create superior value for both the banker and the customers across the whole organization.
Customer Perception about CRM in Banks
Customers who contact any bank expect two things: a solution to their problems relating to the banking transactions and treatment as someone special.
Speed and time taken to render service is taken care of...