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INDEX

SR NO TOPICS
1 INTRODUCTION

2 MEANING & DEFINITION

3 PRESENT & FUTURE OF CRM

4 STEPS OF CRM

5 CRM STRATEGY

6 IMPORTANCE OF CRM

7 IMPACT OF CRM

8 CRM CYCLE

9 FEATURE & BENEFIT OF CRM


10 CASE STUDY

11 CONCLUSION

12 BIBLIOGRAPHY

CRM IN BANKING

INTRODUCTION:

1] Custmor Relationship Management is a broad approach for creating,


maintaining and expanding customer relationships.

2] CRM is the business strategy that aims to understand, anticipate, manage and
personalize the needs of an organization’s current and potential customers.

3] At the heart of a perfect strategy is the creation of mutual value for all parties
involved in the business process.

4] It is about creating a sustainable competitive advantage by being the best at


understanding, communicating, and delivering and developing existing
customer relationships in addition to creating and keeping new customers.
5] So the concept of product life cycle is giving way to the concept of customer
life cycle focusing on the development of products and services that anticipate
the future need of the existing customers and creating additional services that
extend existing customer relationships beyond transactions.

DEFINITION AND MEANING :

CRM is an acronym that stands for Customer Relationship Management. It


describes the strategy that a company uses to handle customer interactions. One
example of a common CRM strategy is the rewards card program offered by many
supermarkets. The store gives its customers a free card that gives them access to
special deals and discounts when they swipe the card during checkout. But that
card also tracks everything the customer buys and allows the store to create an
extremely detailed customer profile based on his or her purchasing habits. Armed
with that information, the store can then offer its customers targeted coupons and
other programs that will motivate its customers to buy more products from that
store.

Many CRM software exist to help companies manage the customer relationship
process. In fact, salespeople tend to think of these computer programs as the be-all
and end-all of CRM. But CRM has existed for much longer than the computer – in
fact, it has been around in one form or another for as long as people have been
buying and selling. Computers have the customer relationship management
process because the key to a good CRM is uncovering and storing information
about customers. The more a company knows about its customers, the better it can
manage those relationships – as in the above example of supermarket rewards
cards.

CRM software can help by storing all this information in an easy-access format.
With a typical CRM program, new leads are entered into the program's database
and salespeople add notes throughout the sales cycle. It's then easy for a company
to compile reports from this data that help it to design a CRM strategy that's
tailored to its customers. The CRM software can also automatically send out
emails to individual customers as designated by the salesperson. For example, a
salesperson might program his CRM to send out a thank-you message whenever a
customer reaches his or her one-year anniversary of purchase, or to send an e-card
on the customer's birthday.

Once a company has collected information about a customer, the next step is
training its salespeople and other employees in using that information to keep
customer relationship Stronger. Because salespeople are often the 'face' of the
company, theirs is an important role in any CRM program. Frequently a customer
who runs into a technical problem will phone her salesperson instead of calling up
the customer service team. She already knows her salesperson and probably has
good feelings about him, or she wouldn't have bought the product from him. It's
safer and easier to reach out to someone she knows than to try to explain her
problems to a stranger. So even after the sale is complete, salespeople often
continue to speak with customers on a regular basis.

These customer interactions can be a burden for a salesperson, but they can also
bring a blessing in the form of future sales. When a salesperson helps his customer
overcome a difficult problem, it's much more likely that she'll get in touch with
him for future purchases. And there's also a good chance that she'll send her friends
and family to him as well. And this is exactly what a customer relationship
management system is trying to accomplish. It's critical that the sales team
understands and implements its company's CRM strategy.

For this reason, the sales manager should make a point of keeping on top of the
company's CRM strategy and should pass along any changes to the sales team
immediately. She should also counsel her team on how to build and maintain a
good customer relationship. Most salespeople are happy to do so once the fruits of
this labor start rolling in in the form of additional sales.
PRESENT AND FUTURE OF CRM IN BANKING
Bank merely an organization it accepts deposits and lends money to the needy
persons, but banking is the process associated with the activities of banks. It
includes issuance of cheque and cards, monthly statements, timely announcement
of new services, helping the customers to avail online and mobile banking etc.
Huge growth of customer relationship management is predicted in the banking
sector over the next few years. Banks are aiming to increase customer profitability
with any customer retention. This paper deals with the role of CRM in banking
sector and the need for it is to increase customer value by using some analytical
methods in CRM applications. It is a sound business strategy to identify the bank’s
most profitable customers and prospects, and devotes time and attention to
expanding account relationships with those customers through individualized
marketing, pricing, discretionary decision making.

In banking sector, relationship management could be defined as having and acting


upon deeper knowledge about the customer, ensure that the customer such as how
to fund the customer, get to know the customer, keep in tough with the customer,
ensure that the customer gets what he wishes from service provider and understand
when they are not satisfied and might leave the service provider and act
accordingly.

CRM in banking industry entirely different from other sectors, because banking
industry purely related to financial services, which needs to create the trust among
the people. Establishing customer care support during on and off official hours,
making timely information about interest payments, maturity of time deposit,
issuing credit and debit cum ATM card, creating awareness regarding online and e-
banking, adopting mobile request etc are required to keep regular relationship with
customers.

The present day CRM includes developing customer base. The bank has to pay
adequate attention to increase customer base by all means, it is possible if the
performance is at satisfactory level, the existing clients can recommend others to
have banking connection with the bank he is operating. Hence asking reference
from the existing customers can develop their client base. If the base increased, the
profitability is also increase. Hence the bank has to implement lot of innovative
CRM to capture and retain the customers.

There is a shift from bank centric activities to customer centric activities are opted.
The private sector banks in India deployed much innovative strategies to attract
new customers and to retain existing customers. CRM in banking sector is still in
evolutionary stage, it is the time for taking ideas from customers to enrich its
service. The use of CRM in banking has gained importance with the aggressive
strategies for customer acquisition and retention being employed by the bank in
today’s competitive milieu. This has resulted in the adoption of various CRM
initiatives by these banks.

Steps to follow:-
The following steps minimize the work regarding adoption of CRM strategy.

These are:-
1] Identification of proper CRM initiatives

2] Implementing adequate technologies in order to assist CRM initiative

3] Setting standards (targets) for each initiative and each person involved in that
circle
4]Evaluating actual performance with the standard or benchmark

5]Taking corrective actions to improve deviations, if any

CRM STRATEGY:-
CRM :-
The Differentiating Factor:-

Financial services is a competitive market. Banks have a hard time differentiating


themselves because “money is money.” Products are often very similar among
institutions, which leaves customer interaction as a way for banks to differentiate
themselves. Unfortunately, in-house customer interaction centers can be costly to
implement and add fixed costs to the bank’s financials. As customer interaction
increases, scalability is a problem. In addition, interfacing with multiple back-end
systems is often a challenge, and this is especially important when a customer has
products on o

Impact of CRM in Banking Industry:-_


CRM about a business strategy , which drives changes in the banking and work
processes, enabled by information technology.
In the Post liberalization the banking industry was adopting push strategy in selling
their products and the importance is not given in serving the customers. But in
progressive liberalization, the Narashima committee has implemented sea-changes
in the banking reform in 1991.

With sustained pressure on their interest spread, banks have been increasingly
foraying into a host of diversified activities so as to safeguard their bottom.

Banking Industry revolves around three basic features being::-


1. Intangibility: Unlike a product which can be seen and benefits derived
accordingly, the banking industry thrives practically on the quality of the services
rendered. The experience of the customer determines the growth of the business.

2. Variability: The present day customer is impatient and is highly demanding and
dos not compromise on the quality of the service rendered, as he expects that high
cost equals high quality and vice versa.

3. Satisfiers: Unlike the manufacturing industry that wholly depends on the


tangibility and extrinsic factors, the service industry is totally dependent on the
intrinsic and extrinsic factors, which have a close earring on the core benefits.

It is obvious from these features that the customer is the fulcrum for the banking
industry and any initiative adopted for its growth is to be aimed at, for and through
the customer. And the banks to be competitive it build up a strong CRM by
convergence model in the financial industry and financial liberalization.

CRM about a business strategy , which drives changes in the banking and work
processes, enabled by information technology. Banking institution must initially
develop a strategy to understand and anticipate the need of the current and
potential customer base.
Benefits of Using CRM in Banking Industry:-
1. Provide better customer balance
2. Increase customer revival
3. Discover new customers
4. Helps sales staff close deals faster
5. Making banking operation more efficient
6. Simplify marketing and sales process

BENEFITS OF CRM :
 Customers can now visit any branch and AIB customer service

representatives can access customer information efficiently and securely.

 Customer service representatives can avoid double selling and offering

unrelated products and services to customers.

 By listening and reacting to customers, businesses can develop customer

centric products and services based on customer wants, tailored to their need.

 Through its relationship management programme, AIB maintains

and builds on existing customer relationships, adds value by retaining

clients and cross sells products and services.

BENEFITS FOR CUSTOMERS


◗ Customers feel empowered if they have greater access to products

and services e.g., 24-hour banking.

◗ There is a more coordinated and professional approach to customer contact.


◗ Targeted product and service offerings can be timed to coincide with

customer events and life stages e.g., educational loans.

◗ With up-to-date customer information, businesses can prepare more

personalised services.

BENEFITS FOR EMPLOYEES


◗ Employees have more time to serve customers and fulfil orders.

◗ Employees are empowered with the information to deliver high quality

service and meet customer expectations.

◗ Employees have higher satisfaction ratings.

CRM Strategies Adopted in Banking Sector

One-Stop Financial Supermarket:-


Right service is offered to right customers. Faced with growing complexity in
financial products ,more and more customers are expressing a needed for a "trusted
financial advisor" to help manage their financial affairs.

As the primary financial services provides to most consumers, banks are


particularly well positioned to capitalize on this needed, which promotes a greater
receptivity to the one stop shopping concept.

The ATM can be accessed around the clock and safety is also more. The number of
customer transaction is increased and it is used at any place.
There are no of credit cards offering variety of services according to their nature
and it help them to raise easy credit facilities and proof to disputes in legal case.

Master card is a card of master money card. Some banks issue one some the other.
Banks are replacing plain old ATM to this card which help the customer to use
even in restaurants and gas stations.

Smart cards are a card with chip technology contains all the information about its
holders. Smart card replaces and does the work of all the cards. High memory,
portability and reliability make the smart cards more useful for the customers.

The stock exchanges dealing are done through Demat and Remat A/C. In the
developing countries like India the customer's awareness towards this product is in
growing stage. Ancillary services like e-broking. e-shopping and on-line ticket
booking are also enjoyed by few customers.

Increasing the Number of Delivery Channels to the Customers:-


Banks have realized that shifting customer access to lower cost channels can help
in bring down the operating cost. These channels are used not only to improve
service but also to divert traffic from branches. It is a fact that the cost of the
transactions over the delivery channel is lower than doing the transactions through
branches. The ATM and Net Banking Services enable Non-Stop Banking
-Convenience Banking -24 hrs access to cash -365 days of the year without any
additional cost burden to the customer.

The Real Time Gross Settlement (RTGS) Scheme is being implemented in a


phased a manner after which the collection of cheques will be smooth and quicker.
The CBS (Core Banking Solution) implementation will lead to instant collection of
outstation cheques without delay. Customer to the Branch is moved to Customer to
the Bank in major cities and it has reduced time to non-entity. The use of Plastic
money has increased in sky rocketed pace as a result of which the transaction have
become easier and speedier without actual use of cash. The concept of Virtual
Banking has also gained ground.

Customer Value Management:-


CRM solutions if implemented and integrated correctly can help significantly in
improving customer satisfaction levels with accrued benefits. Data warehousing
can help in providing better transaction experiences for customer over different
transaction channels. The data mining helps banks analyze and measure customer
transaction patterns and behaviors'.

This can help a lot in improving service levels and finding new business
opportunities. The main thrust of CRM is to develop new products, render value
creation, gain market leadership and spread risks and vulnerabilities besides facing
competition. Any bank would have a huge customer base that it would not be able
to monitor it manually in order to find out various customer behavior trends and
patterns.

It is essential to attract, retain and grow customer base with effective management
of the information about the customers and enhance the relationship with them.
The value proposition however a significant increases in that intangible called
customer satisfaction. The increase in customer satisfaction has translated to
loyalty those results in higher customer retention and growing franchise value.

Unless the banks understand the needs of the customer, best technology products
benefiting the customer cannot be designed. Hence the CRM and technology go
hand in hand supplementing each other needs and convenience. Once the customer
needs are understood and technology product orientation becomes easy for value
creation process.
As the banking industry thrives on the services rendered, it becomes necessary to
imbibe the "PQRST" strategy to maintain CRM, where

PQRST MEANS:-
P: Peace of mind for the customer

Q: Quality of service rendered, which should commensurate to the expectations of


the customer

R: Respect to be given to the customer irrespective of his economic background

S: Sincerity in the discharge of duties to the customers, with a personal touch

T: Time bound-which plays a vital role for the customer to have a pleasant
experience

In experiencing "PRIDE" while dealing with customers where

PRIDE MEANS:-
P: Personal involvement is taken up by the agency

R: Leading to responsibility for the actions of the team members

I: In

D: Delivering

E: Excellence in the service rendered

Still some drawbacks are in CRM implementation due to various reasons might not
have the desired results.
There could be a lack of commitment from people within the Banking industry to
the implementation of a CRM solution. Adapting to a customer-focused approach
may require a cultural change.

There is a danger that relationships with customers will break down somewhere
along the line, unless everyone in the business is committed to viewing their
operations from the customers' perspective. The result is customer dissatisfaction
and eventual loss of revenue.

Poor communication can prevent buy-in. In order to make CRM work, all the
relevant people in your business must know what information you need and how to
use it.

Weak leadership could cause problems for any CRM implementation plan. The
onus is on management to lead by example and push for a customer focus on every
project. If a proposed plan isn't right for your customers, don't do it. Send your
teams back to the drawing board to come up with a solution that will work.

In the cut-throat competition,now the banks moved to the next era CRM+ which
provides 360 degree view of all customer data and customer interaction.
It automates the entire customer life cycle and the banks serve both prospect and
current customers equally effectively. It inputs powerful automatic up sell and
cross sell capabilities and also includes complete partner relationship management.

The day to day technology change enhances the customer satisfaction to customer
delight and the banks should make use of these strategies in an efficient way to
retain it customers.

Find out how the CRM process works :-

The CRM process is the most influential customer oriented strategy of the decade.
Despite its humble origins it has evolved into a relatively complex strategy. The
essentials of a CRM program include focus, commitment to CRM goals and above
all a desire to be customer focused. Here's how the CRM process actually works in
an organization.
A look at the steps in the CRM process:-

1] Establishing CRM goals


2] Educating other departments
3] Assembling customer information
4] Designing the data model
5] Vendor study
6] Selecting the CRM solution
7] Establishing authority & responsibility
8] Pilot projects
9] Communication with customers through direct mail , electronic mail etc
10] Customer surveys
11] Customer satisfaction program
12] Collection of customer information
13] Provision of customer information to employees
Usage of customer information in the business activities
14] Feedback
15] Analyze
16] Documenting a new process
17] Implementing final methodology
CASE STUDY : ON HDFC BANK:-

HDFC Bank uses CRM to achieve its “One Bank” vision, boosting profit and
customer satisfaction.

“We believe in CRMnext. With over 25000+ users & 2500+ branches and
multiple integration points, it was hard for any system to match our
expectations. But with CRMnext we have enjoyed 99.9% uptime availability
and seamless scalability.” It just seems perfect. –

CEO OF HDFC...

Background

 Leading providers of loans, liability accounts and third party products with
various over-the-counter products.
 The bank also has personal banking, investment advisory and wealth
management services.
 It has 2544 branches and over 6000 ATMs in 1399 cities/ towns of India.
 Founded in 1994.
Challenges

 Single 360° customer view


 No banking CRM software implemented, leading to fragmented
customer information in various lines of business and multiple systems
Fragmented process for each product line and disparate systems
 Fragmented ownership
 Low visibility and challenges in monitoring
 Cumbersome process for monitoring of TAT
 Time consuming processes for reconciliation and generation of reports.
 Non-availability of status of fulfilment of customer forms and requests.
 Inefficiencies in cross-sell and up-sell
 Highly demanding and sensitive managed customer segment
 Low visibility of information to create opportunities
 Large customer base and associated data management challenges

Solutions

 Single 360° customer view


 Customer insight by integration with data warehouse and other core
banking applications.
 Scalable and fault tolerant technology for hosting more than 25 million
customers and 400 million related records.
 Enhance productivity
 Product/function specific workflows for end-to-end tracking of the
fulfillment processes.
 Consolidation and streamlining of processes across functions and
product.
 Online accessibility to customer data for more than 15000 users
through an effective banking CRM software.
 Cross-sell and up-sell capability at customer touch points
 Intelligent segmentation of customers.
 Empower customer service and sales teams with automated cross
selling and up selling opportunities.

Benefits

Sales Management

 208% Increase in lead conversion


 40% Increase in cross sell
 93% Improvement in sales turn-around-time
 61% Increase in First-Time-Right documentation

Customer Service Management

 92% Increase in customer loyalty index


 24% Increase in net promoter score
 30% Reduction in average customer complaints

Marketing Management
 23% Increase in campaign execution
 108% Increase campaign response rates
 370% Increase in lead generation

To maintain its leadership, HDFC Bank used CRMnext to establish a single


platform for execution of its strategy across products, departments and channels.

Based on market capitalization HDFC Bank is currently the largest private bank in
the country with more than 25 million customers. It has an extensive distribution
network of more than 2500 branches spread across 1399 cities and more than
55,000 employees. Around three years back, in order to retain its competitive
advantage, the bank felt that it needed to better its customer engagement processes.
Unlike other banks, HDFC Bank did not want to buy growth at the expense of its
profitability. Management at the bank knew that only unparallel customer
experience could provide a sustained edge much needed to maintain its growth rate
in spite of increasing balance sheet size. The bank found an answer in a two prong
strategy which included raising the bar for its internal processes (although the bank
were already outperforming the industry) to preserve profitability and ensuring
consistency of information and actions across channels to create an unmatched
customer experience - gaining trust and loyalty to sustain the growth trajectory.
However, despite the clarity in strategy, execution was a challenge. Such a radical
strategy was first of its kind and faced tremendous risk due to inherent complexity
and technological challenges, considering the transformation had to happen across
a geographically distributed team, without hampering business and at a pace that
kept it relevant. Also it needed to streamlining deliveries keeping in mind the
readiness and the ground realities. Another challenge was leveraging the data
warehouse to build intelligence on customers and deploying this information at
various touch points to help maximize customer life cycle value. Technologically,
scalability of the system given the large data volumes, 55,000+ user base,
workflow complexities, integration, synchronization and incremental updates was
no less challenging either. Aware of ground realities, the bank focused on finding a
solution with an architecture capable of managing over 55,000 users serving over
25 million customers. It also needed an implementation partner with extensive
banking domain knowledge and capability to execute the vision. The bank selected
CRMnext's solution which promised to fulfill the banks needs. Some of the key
capabilities offered by the solution included:
Customer 360° view Creating a unified customer view by collating and massaging
data from various sources including the data warehouse. Controlling customer
information based on the role of users. Enabling access to single view across
various channels like branch, phone banking, etc Integrated sales platform Multi-
wave process workouts to ensure unification and consolidation of all unstructured
processes (run on excel) and semi automated processes. Phasing out 6 applications
like lead tracking system, customer contact management, etc. Integrating with 7
core and origin systems to provide end-to-end status visibility. Process TAT
guaranteed by alerts and multi-stage escalations across departments and channels.
Using mobile & two way SMS capabilities to create leads, update status, request
for customer offers, etc Customer experience management Enabling improved
relationship management by creating virtual portfolios and accountability Ensuring
information availability at all customer touch points to boost the quality of
interactions Enabling system driven contact strategies based on customer bands to
ensure aligned actions Focus on roadmap to establish CRMnext as a single
destination for all needs Cross Selling Capability The platform operates across all
channels, providing global visibility and status of offers. Various systems
integrated to provide event based triggering such as large deposits, channel usage,
etc Marketing team continuously generates cross-sell offers and next best products
to be sold. Ever since the solution went live in 2009, HDFC Bank has been able to
realize its vision and maintain the same growth rate in spite of over 200% increase
in balance sheet size. Today, CRMnext is seen as a star investment and a mission
critical application that the bank depends on. The CRM system led to a high
impact transformation which resulted in complete sales process re-engineering. It
has allowed the bank to increase its customer base by a whopping 113% by
December'11. It also helped the bank grow its assets business by 100% over 2008
levels. Plus, there was a 200% increase in the leads being entered per month
between Mar 2008 and Nov 2011. Between FY 2009-10 to FY 2010-11 lead
conversion increased by 32%, while the quality of documentation improved from
60% FTR (First Time Right) to 97% in November 2011. There has also been a
significant improvement in customer experience management as the bank's loyalty
index rose from 38 in 2007 to 62 in 2010. This was aided in large parts by a
considerable drop in number of customer complaints and an increase in service
quality rating which improved from 65% in 2007-08 to 97% in 2011. The CRM
has also improved sales representatives' ability to cross-sell by significantly
increasing the number of personalized offers generated on monthly basis.
CRM IN HDFC BANK

HDFC Bank was incorporated in August 1994, and, currently has an


nationwide network of 1,506 Branches and 3,573 ATM's in 635 Indian towns and
cities. The Housing Development Finance Corporation Limited (HDFC) was
amongst the first to receive an 'in principle' approval from the Reserve Bank of
India (RBI) to set up a bank in the private sector, as part of the RBI's liberalisation
of the Indian Banking Industry in 1994. The bank was incorporated in August 1994
in the name of 'HDFC Bank Limited', with its registered office in Mumbai, India.
HDFC Bank commenced operations as a Scheduled Commercial Bank in January
1995.
HDFC Bank's mission is to be a World-Class Indian Bank. The objective is to
build sound customer franchises across distinct businesses so as to be the preferred
provider of banking services for target retail and wholesale customer segments,
and to achieve healthy growth in profitability, consistent with the bank's risk
appetite. The bank is committed to maintain the highest level of ethical standards,
professional integrity, corporate governance and regulatory compliance. HDFC
Bank's business philosophy is based on four core values - Operational Excellence,
Customer Focus, Product Leadership and People.
Today, many businesses such as banks, insurance companies, and other service
providers realize the importance of Customer Relationship Management (CRM)
and its potential to help them acquire new customers retain existing ones and
maximize their lifetime value. At this point, close relationship with customers will
require a strong coordination between IT and marketing departments to provide a
long-term retention of selected customers.

In HDFC The CRM software includes 5 modules


 Enterprise Customer information file: It contains all the information related
to a customer
 Sales
 Loan Origination
 Service
 Call Centre
 Marketing

And thus CRM is a sound business strategy to identify the bank’s most profitable
customers and prospects, and devotes time and attention to expanding account
relationships with those customers through individualized marketing, repricing,
discretionary decision making, and customized service-all delivered through the
various sales channels that the bank uses.

CRM Technology in HDFC


The CRM technology covers three types if CRM i.e. Operational CRM, Analytical
CRM & Collaborative CRM. These all CRM work together to service the customer
in the best possible manner.

The back office , front office and even call centers are connected through this
CRM to service the customers via multiple channels.
Thus the CRM helps the bank to indentify the right customer, for the right product
at the right time to acquire a prospect or service the existing.

Stations of Experience:

The customer experience at the HDFC can be summarised with the following
steps:

 Customer Entry: As soon as the customer enters the branch there is MAY I
HELP YOU desk to help the customers even if he/she is coming for the first
time. Thus here the customer experiences something good.

 Layout & Ambience: There is separate desk for different types of services
and customers to serve the customers in the fastest and most efficient way.

 Sitting Facility & Queue Management: Every branch of the Bank has good
sitting facility with sofas and separate cabins for the NRI & HNI customers.
The token facility is there to manage the queue and again there is segregation
in terms of customer, customer representative & gold customer.

 Query Handling: The staffs at the branches are well educated and trained to
handle the customer request and queries but at the peak hours they because of
working pressures ignore some or the other form of courtesy.

 Solution: Sometimes the solutions need the customer to visit the branch again
and sometime customer goes back happily fully satisfied with his/her
encounter with the bank.
So this is the stage where it determines that whether the customer will visit
the bank next time with some +ve or –ve feelings.
 Follow-up: This is the stage where most of the customers have –ve feelings
as the bank employee fails to followup with the customers, it is the customers
who need to followup with the employees.
So at each step the customer experiences some positive and some negative feeling
and those can be called as the moment of truth.
But the bank promotes with Hassle free banking but some of the complaints of the
customer indicate that the bank are using CRM as the technology and have failed
to understand the rea meaning of Customer Relationship Management. Even
relationship managers have also failed sometimes to build a permanent relationship
with the customer.

Conclusion on HDFC Bank:


Hereby, we are able to get a clear idea as to how to effectively handle CRM due to
the points discussed. So, to retain the customers it is essential to have really service
oriented people to be in the marketing line and with good communicative skills
that would exactly convey the necessities of the customers to the producers and
also benefit the marketers by way of attracting more valuable customers.

Thus, it should be in a position to benefit both the parties involved in the process.
"If the buyer is not satisfied, then how sales could be promoted and how could the
wheel of marketing be set in to motion?" Henceforth, I conclude my paper by
stressing the point that "the motto of marketing should not only aim at loyalty of
the customers but also their convenience.
CONCLUSION ON CRM:

Customer Relationship Management is concerned with


attracting, maintaining and enhancing customer relationship
in multi service organizations. CRM goes beyond the
transactional exchange and enables the marketer to estimate
the customer’s sentiments and buying intentions so that the
customer can be provided with products and services before
the starts demanding. Customers are the backbone of any
kind of business activities, maintaining relationship with
them yield better result.

BIBLIOGRAPHY
www. Google.com

www. Hdfcbank.com

www. Wikipedia.com

www.yahoo.com

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