A Presentation on Customer Relation Management In State Bank of India 2
“ By Entering into your premises, the customer is giving an opportunity to serve him, but you are not doing any favor by serving him”. - Mahatma Gandhi. 3
Objective of the Study To analyze the CRM processes adopted by SBI To understand the strategies adopted by SBI in promoting CRM practices To identify the customer satisfaction level towards CRM practices followed by SBI 4
What is bank?
A bank is a financial institution licensed by a government. Its primary activities include borrowing and lending money.
For example:- Banks are important players in financial markets and offer financial services such as investment funds.
SBI in India. Banking in India originated in the last decades of the 18th century. The oldest bank in existence in India is the State Bank of India, a government-owned bank that traces its origins back to June 1806 and that is the largest commercial bank in the country. Central banking is the responsibility of the Reserve Bank of India, which in 1935 formally took over these responsibilities from the then Imperial Bank of India, relegating it to commercial banking functions. 6
SBI ….. SBI is a leading public sector bank in INDIA with large customer base and excellent infrastructure facility. It caters the prospective customers with wide range of products and banking facility. It is the only bank in with various departments and functions and large work force. It has recently under taken the re-engineering process to provide better facilities for the customers and it has adopted various technologies to satisfy the customers to the fullest. It has its prominence from past two decades. 7
CRM Customer relationship management (CRM) is a business strategy to acquire and manage the most valuable customer relationships. CRM requires a customer-centric business philosophy and culture to support effective marketing, sales and service processes. CRM applications can enable effective customer relationship management, provided that an enterprise has the right leadership, strategy and culture. 9
CRM in bank. The idea of CRM is that it helps businesses use technology and human resources gain insight into the behavior of customers and the value of those customers. If it works as hoped, a business can: provide better customer service, make call centers more efficient, cross sell products more effectively, help sales staff close deals faster, simplify marketing and sales processes, discover new customers, and increase customer revenues.the organization must look into all of the different ways information about customers comes into a business, where and how this data is stored and how it is currently used. 10
Objective of CRM. 1) Responses to campaigns, 2) Shipping and fulfillment dates, 3)Sales and purchase data, 4) Account information, 5) Web registration data, 6) Service and support records, 7) Demographic data, 8) Web sales data. 11
Purpose of CRM Provide product information, product use information, and technical assistance on websites that are accessible 24 hours a day, 7 days a week. Identify how each individual customer defines quality, and then design a service strategy for each customer based on these individual requirements and expectations. Provide a fast mechanism for correcting service deficiencies (correct the problem before other customers experience the same dissatisfaction). Use internet cookies to track customer interests and personalize product offerings accordingly. Provide a fast mechanism for managing and scheduling maintenance, repair, and ongoing support (improve efficiency and effectiveness). 12
CRM includes many aspects which relate directly to one another: Front office operations — Direct interaction with customers, (e.g. face to face meetings, phone calls, e-mail, online services etc.) Back office operations — Operations that ultimately affect the activities of the front office. (e.g. billing,maintenance, planning, marketing, advertising, finance, manufacturing, etc.) Business relationships — Interaction with other companies and partners, such as suppliers/vendors and retail outlets/distributors, industry networks (lobbying groups, trade associations). This external network supports front and back office activities. Analysis — Key CRM data can be analyzed in order to plan target-marketing campaigns, conceive business strategies, and judge the success of CRM activities (e.g., market share, number and types of customers, revenue, profitability). 13
Data Warehouse and Data Mining 14
The Relational Marketing process is supported by a computing infrastructure where many software packages are integrated with the bank's information system.
The marketing campaign process and the software supporting it. 15
Reference http://upload.authorstream.com Date and Time: 15-11-2010 (16:23) 16