ICICI Bank implemented a customer relationship management (CRM) strategy to focus on customers and enhance their experience. The bank used technology to reduce costs, increase customer retention, and improve cross-selling. ICICI's CRM involves communicating more with customers and prospects to enhance every customer contact. The bank aims to achieve one-to-one marketing by tracking customer lifecycles and facilitating coordinated communication across channels to efficiently manage customers.

1. CRM IN ICICI
BANK
Ravi Jagannath Sharma
Retail Management 3rd Sem
University of Lucknow

2. ICICI BANK
 ICICI was set up as a development bank to provide
products and services for the corporate segment.
 It diversified into the retail segment of the financial
markets in the early 1990s while transforming itself into
a technology intensive financial service group.
 In the mid-nineties, ICICI raised debt from the retail
market.

3.  Since then it has been trying to increase its reach
to this segment by mobilizing resources and
offering quality investor service through ICICI
Infotech Services, a subsidiary of ICICI.
 In 1994, it established ICICI Bank as a
commercial bank that is flexible, innovative and
prompt in meeting customer requirements.
 It also offers other retail initiatives such as
personal services, capital services, Web trade, life
insurance and other services.

4. ICICI- RETAIL STRATEGY
 ICICI’s retail strategy was centred around
intensive deployment of technology to help
reduce cost of service, increase customer
retention, help in cross selling and up-selling
while improving process efficiencies.
 The bank looked towards allowing the
customers use multiple electronic channels
including internet, ATMs, call centers, contact
centers, desktops, kiosks, mobiles and other
hand held devices for conducting financial
transactions.

5. CRM- THE ICICI
EXPERIENCE
 CRM at ICICI involves increased
communication between the virtual universal
bank and its customers and prospects as well as
within the group itself.
 The underlying idea is to enhance every instance
of contact with the customer.
 ICICI believes that a true customer-centric
relationship can only be accomplished by
considering the unique perspectives of every
single customer of the organization.

6. CRM ROAD MAP OF ICICI
 CRM is viewed as a discipline as well as a set of discrete software
technologies, which will focus on automating and improving the
business processes associated with managing customer
relationships in the areas of sales, marketing, customer service
and support.
 The organizations aims to achieve the end goal of one-to-one
marketing.
 The CRM Software applications will facilitate the coordination of
multiple business functions.
 Coordinate multiple channels of communication with the
customer to carry out customer management more efficiently.

7.  It should allow ICICI to engage in one-to-one
marketing by tracking complete customer life-cycle
history.
 To begin with, it will automate process-flow tracking in
the product sales process, and be able to generate
customized reports and promote cross selling.
 It will also enable efficient campaign management by
providing a software interface for definition, tracking,
execution and analysis of campaigns.

8. THE CRM BUSINESS CYCLE

9. COMPONENTS OF CRM CYCLE
 Understand and Differentiate.
 Develop and Customise.
 Interact and Deliver.
 Acquire and Retain.

10. Understand and Differentiate
 Organisations need to understand their customers in
order to have a relationship with them.
 Profiling to understand demographics, purchase
patterns and channel preference.
 Primary research to capture needs and attitude.
 Customer valuation to understand profitability, as well
as lifetime value or long-term potential.
 The ICICI Group’s customers need to see that the firm
is differentiating service and communications, based on
their learning independently and on the customer
expectation and the expected values expected.

11. Develop and Customise
 In a customer-focused world, product and channel
development has to follow the customer’s lead, identify
customer’s wants, determine the value and desire of the
customer, etc.
 Organizations are increasingly developing products and
services, and even new channels based on customer
needs and service expectations.
 ICICI believes that the extent of customization should
be based on the potential value delivered by the
customer segment.

12. Interact and Deliver
 To foster relationships, organizations need to insure that:
 All areas of the organization have easy access to relevant,
actionable customer information.
 All areas are trained how to use customer information to
tailor interactions based on both customer needs potential
customer value.
 ICICI is strongly of the opinion that value is not just based on
the price of the product or the discounts offered but are based
on a number of factors including the quality of products and
services, convenience, speed, ease of use, responsiveness, and
service excellence.

13. Acquire and Retain
 The more ICICI learns about customers, the easier it is
to pinpoint those that are producing the greatest value
for the organization.
 They aim to continue to learn more about each
customer segment and use it for successful customer
retention.
 As ICICI moves step further in CRM they hopes to
gain insight and understanding that enhance the
subsequent efforts. The organization shall become
increasingly sophisticated in the implementation of
CRM processes, and over a period of time shall become
increasingly profitable by doing so.

14.  Successful customer retention is based on the
organization's ability to constantly deliver, based on
three principles:
 Maintain interaction; never stop listening.
 Continue to deliver on the customer’s definition of
value.
 Customers change as they move through differing
stages of their lives, which implies that the firm
needs to be alert for changes and to modify its
services and value propositions as they change.

15. IMPLEMENTING CRM
 There are five interrelated areas:
 Business Focus.
 Organizational Structure.
 Business Metrics.
 Marketing Focus.
 Technology.
 The key to building the CRM action plan was in understanding
with the organization that stood relative to each of the five
aspects of change.
 Interviews with key individuals throughout the organization
helped identify different initiatives that have been launched, all
focused on CRM.

16.  The next step in the process was a ‘Gap
Analysis’, this analysis helped identify the CRM
organizational holes:
 Marketing, sales and service practices.
 Collection, capture, processing and deployment of
customer information.
 Distribution and operations effectiveness at
customer touch points.

17. THANK YOU