This document discusses customer relationship management (CRM) in the banking industry. It states that CRM is more about human interactions than technology implementation, and that banks need to constantly focus on customers to build successful relationships. The goals of CRM in banking are to lower costs, increase revenue, retain profitable customers, and make better customer-focused decisions. If implemented properly with a focus on customer needs and expectations, CRM can improve customer satisfaction, which is important for banking industry growth. The document also examines the role and objectives of CRM in the industry.
A Study on Customer Relationship Marketing in Banking Sectorpaperpublications3
Abstract: Modern Marketing Philosophy advocates the concept of customer relationship marketing that creates customer delight. In the banking field a unique relationship exists between the customers and the bank. Due to various reasons like financial burdens, risk of failure, marketing inertia etc., many banks are still following the traditional ways of marketing and only few banks are making attempts to adapt customer relationship marketing. The role of custom er relationship marketing is very vital in leading the banks towards high level and volume of profits. So there is a need to study the role of customer relationship marketing in development and promotion of banking sector through the side-lines of the practices, problems and impact of CRM on banking sector all the time.
Customer relationship marketing is an emerging customer innovation focused on growing customer’s
satisfaction, retention and loyalty that will culminate into bank profitability. The paper investigated the impact
of investment in implementing customer relationship marketing on the performance of commercial banks in
Nigeria. The study was carried out in Federal capital territory Abuja,
Customer is a king and Customers are the mainly focused in making new marketing strategy. In the banking field a unique relationship exists between the customers and the bank. But because of various reasons like lack of training ,new technology literacy, financial targets, risk of failure etc., some banks are still following the traditional ways of marketing and another hand some are making attempts to adapt CRM. It is with this background, the researcher has made a modest attempt towards the idea that CRM can be adapted uniformly in the banking industry for betterment of Banking Services. Understanding on Customer Relationship Management is always a concern among the service providers especially banks. Banks makes their own way of managing their relationships new and existing customers. The aim of this paper is to examine the Customer Relationship Management as a new methodology looks forward to identify and attract consumers through the process of developing relationships (business - customer). The methodology of the CRM aims to maintain customer satisfaction and increase consumer loyalty. The purpose of this paper is to study the importance of CRM systems and in-depth knowledge of methods and management techniques customer relationships.
The main issue of this study is that CRM has become a multi-faceted and complex phenomenon that is ridden by various factors. Due to this complexity, a number of different variables have been used to measure CRM which investigated by several prior studies. However, most of businesses need to know and look at the particular measures and dimensions of the CRM that have a significant impact on customer satisfaction and loyalty, which would enrich the business' performance, especially with the increase in competition as well as lack of differentiation in providing a service. This paper aimed to review literature on CRM and to identify its impact on customer satisfaction and customer loyalty. The studies are analyzed on the basis of some general characteristics and variables that significantly enhance CRM and its influence on customer satisfaction and customer loyalty. For this purpose, we investigate the existing literature on the impact of CRM on customer satisfaction and customer loyalty along with its spread among publications to identify the potential development in the field.
A STUDY WITH SPECIAL REFERENCE TO BANKING INDUSTRY IN INDIAIAEME Publication
Customer Relationship Management (CRM) has emerged as a popular business strategy in today’s competitive environment. It is a discipline which enables the business to identify and target their most profitable customers. CRM involves new and advance marketing strategies which not only retain the existing customers but also acquire new customers. It has been invented as a unique technique capable of remarkable changes in total output of companies. CRM in financial services industry is a cyclical process which starts with definition of customer expectations which are difficult to manage but are often the cause of dissonance which results in loss of existing customer base.
The main objective of the study is to explore customer relationship marketing as a competitive tool at Best Point Savings and Loans Limited. A cross-sectional research and quantitative approach was adopted for the study. A non-random quota sampling technique was used to select a sample size of 20 staff members. Questionnaires were adopted to collect data from the staff. Data was descriptively analyzed. Findings from the study revealed that Customer Relationship Marketing strategy in Best Point Savings and Loans Limited to create and retain profitable customers
Impact of Customer Relationship Management on Customers loyalty . Falana Temitope
A survey research on the impact of Customer Attraction , Customer retention, Customer satisfaction programs on Customers loyalty. In Asaba, Delta State, NIgeria .
Relationship Marketing Strategies in Banking Sector: A ReviewIJBBR
The paper is review of relationship marketing strategies prevalent in Banking Sector. In this era of mature and intense competitive pressures, it is imperative that banks maintain a loyal customer base. Nowadays, banks realize the importance ofRelationship Marketing. Relationship marketing offers benefits to the banks,
customers as wellas employees of the organization. Relationship Marketing gives the banks way to developmutually beneficial and valuable long term relationships. These long term relationships are further helping banks in reducing operating cost and attracting new customers.
A Study on Customer Relationship Marketing in Banking Sectorpaperpublications3
Abstract: Modern Marketing Philosophy advocates the concept of customer relationship marketing that creates customer delight. In the banking field a unique relationship exists between the customers and the bank. Due to various reasons like financial burdens, risk of failure, marketing inertia etc., many banks are still following the traditional ways of marketing and only few banks are making attempts to adapt customer relationship marketing. The role of custom er relationship marketing is very vital in leading the banks towards high level and volume of profits. So there is a need to study the role of customer relationship marketing in development and promotion of banking sector through the side-lines of the practices, problems and impact of CRM on banking sector all the time.
Customer relationship marketing is an emerging customer innovation focused on growing customer’s
satisfaction, retention and loyalty that will culminate into bank profitability. The paper investigated the impact
of investment in implementing customer relationship marketing on the performance of commercial banks in
Nigeria. The study was carried out in Federal capital territory Abuja,
Customer is a king and Customers are the mainly focused in making new marketing strategy. In the banking field a unique relationship exists between the customers and the bank. But because of various reasons like lack of training ,new technology literacy, financial targets, risk of failure etc., some banks are still following the traditional ways of marketing and another hand some are making attempts to adapt CRM. It is with this background, the researcher has made a modest attempt towards the idea that CRM can be adapted uniformly in the banking industry for betterment of Banking Services. Understanding on Customer Relationship Management is always a concern among the service providers especially banks. Banks makes their own way of managing their relationships new and existing customers. The aim of this paper is to examine the Customer Relationship Management as a new methodology looks forward to identify and attract consumers through the process of developing relationships (business - customer). The methodology of the CRM aims to maintain customer satisfaction and increase consumer loyalty. The purpose of this paper is to study the importance of CRM systems and in-depth knowledge of methods and management techniques customer relationships.
The main issue of this study is that CRM has become a multi-faceted and complex phenomenon that is ridden by various factors. Due to this complexity, a number of different variables have been used to measure CRM which investigated by several prior studies. However, most of businesses need to know and look at the particular measures and dimensions of the CRM that have a significant impact on customer satisfaction and loyalty, which would enrich the business' performance, especially with the increase in competition as well as lack of differentiation in providing a service. This paper aimed to review literature on CRM and to identify its impact on customer satisfaction and customer loyalty. The studies are analyzed on the basis of some general characteristics and variables that significantly enhance CRM and its influence on customer satisfaction and customer loyalty. For this purpose, we investigate the existing literature on the impact of CRM on customer satisfaction and customer loyalty along with its spread among publications to identify the potential development in the field.
A STUDY WITH SPECIAL REFERENCE TO BANKING INDUSTRY IN INDIAIAEME Publication
Customer Relationship Management (CRM) has emerged as a popular business strategy in today’s competitive environment. It is a discipline which enables the business to identify and target their most profitable customers. CRM involves new and advance marketing strategies which not only retain the existing customers but also acquire new customers. It has been invented as a unique technique capable of remarkable changes in total output of companies. CRM in financial services industry is a cyclical process which starts with definition of customer expectations which are difficult to manage but are often the cause of dissonance which results in loss of existing customer base.
The main objective of the study is to explore customer relationship marketing as a competitive tool at Best Point Savings and Loans Limited. A cross-sectional research and quantitative approach was adopted for the study. A non-random quota sampling technique was used to select a sample size of 20 staff members. Questionnaires were adopted to collect data from the staff. Data was descriptively analyzed. Findings from the study revealed that Customer Relationship Marketing strategy in Best Point Savings and Loans Limited to create and retain profitable customers
Impact of Customer Relationship Management on Customers loyalty . Falana Temitope
A survey research on the impact of Customer Attraction , Customer retention, Customer satisfaction programs on Customers loyalty. In Asaba, Delta State, NIgeria .
Relationship Marketing Strategies in Banking Sector: A ReviewIJBBR
The paper is review of relationship marketing strategies prevalent in Banking Sector. In this era of mature and intense competitive pressures, it is imperative that banks maintain a loyal customer base. Nowadays, banks realize the importance ofRelationship Marketing. Relationship marketing offers benefits to the banks,
customers as wellas employees of the organization. Relationship Marketing gives the banks way to developmutually beneficial and valuable long term relationships. These long term relationships are further helping banks in reducing operating cost and attracting new customers.
International Journal of Computational Engineering Research(IJCER)ijceronline
International Journal of Computational Engineering Research(IJCER) is an intentional online Journal in English monthly publishing journal. This Journal publish original research work that contributes significantly to further the scientific knowledge in engineering and Technology.
Retail Operations and e-Tailing:
Store Operating parameter;
Using strategic resource model in Retailing;
Designing performance programme;
Online retailing, and
Online retail categories.
Standard Operating Procedures(SOP’s)
and
Checklists for Store Operations
Some important practical terminology
Impulse Products
Ticker (Used to count foot falls)
F&V Dump
FIFO
UDL (Uniform Distribution Load in shelves)
Ethylene generating Vs Ethylene sensitive F&V
Average Bill Value = Total Sales/No. of Bills
Private Labels
TI/TO Register (Transfer In/Transfer Out)
To find success, retail managers must continue to motivate their employees:
Motivators for online shopping
Advantages of online retailing
Disadvantages of online retailing
Strategic Retail Model
Impact of Service Quality on Customer Loyalty of Domestic Pumpspaperpublications3
Abstract: Service quality deals with the customer expectation and actual treatment. Better the service quality, higher will be the customer satisfaction. This can gain more and more customers and more loyal customers. The major advantage of loyal customers is that these customers will not leave because of any small reason or any minor fluctuations in company’s performance. This study is restricted to a single product domestic pump and will investigate the role of service quality in creating loyal customers.
Keywords: Service quality, Customer loyalty, Domestic pumps.
Title: Impact of Service Quality on Customer Loyalty of Domestic Pumps
Author: FAZEEN RASHEED A K
ISSN 2349-7807
International Journal of Recent Research in Commerce Economics and Management (IJRRCEM)
Paper Publications
Banking Consumers: 5 Core Segments and How to Reach ThemCognizant
How can financial institutions grow profitable customer relationships? Given the twin pressures of recent regulatory changes coupled with a lower rate environment, our research sought to answer the central question.
MBA Projects, synopsis, and synopsis of various regular as well as distance learning undergraduate and postgraduate courses for various institutions like SMU – Sikkim Manipal University, SMUDE, AIMA, AMITY, IGNOU, SCDL, JAMIA, AMU, JHU etc.
Customer Relationship Management and Banking Sector Market Share performanceinventionjournals
The influence of customer relationship management (CRM) on Nigeria banking sector market share performance is the focus of this study. It examined the influence of customer identification, customer retention and technology on customer relationship management and banks market share performance. The ever increasing competition and dynamics in the market place and the need for banks to survive, grow and meet the stakeholders objectives calls for a meaningful long lasting relationship between marketers and all other stakeholders in the organisation. The population of this study consists of all 617 headquarters employees of the 21 deposit money banks in Port Harcourt metropolis that is registered with Nigeria Deposit Insurance Corporation (NDIC); while the sample size of 243 determined through the Tara Yamani formula. Questionnaire was used as an instrument for primary data collection. The Spearman’s Rank Order Correlation was the statistical technique employed for hypothesis testing in the statistical package for social sciences (SPSS) version 17. The findings of this study revealed that there is significant relationship between customer identification, retention, and market share; while technology positively influence CRM and bank market share performance. Customer identification and retention are dimensions of CRM, while market share is the measure of performance, with technology as moderating variable influence between CRM as a measure of bank performance. It is therefore noted that banks will have better competitive advantage when all relevant stakeholders appreciate and demonstrate these customer relationship management strategies with a view of achieving the desired corporate objectives.
International Journal of Computational Engineering Research(IJCER)ijceronline
International Journal of Computational Engineering Research(IJCER) is an intentional online Journal in English monthly publishing journal. This Journal publish original research work that contributes significantly to further the scientific knowledge in engineering and Technology.
Retail Operations and e-Tailing:
Store Operating parameter;
Using strategic resource model in Retailing;
Designing performance programme;
Online retailing, and
Online retail categories.
Standard Operating Procedures(SOP’s)
and
Checklists for Store Operations
Some important practical terminology
Impulse Products
Ticker (Used to count foot falls)
F&V Dump
FIFO
UDL (Uniform Distribution Load in shelves)
Ethylene generating Vs Ethylene sensitive F&V
Average Bill Value = Total Sales/No. of Bills
Private Labels
TI/TO Register (Transfer In/Transfer Out)
To find success, retail managers must continue to motivate their employees:
Motivators for online shopping
Advantages of online retailing
Disadvantages of online retailing
Strategic Retail Model
Impact of Service Quality on Customer Loyalty of Domestic Pumpspaperpublications3
Abstract: Service quality deals with the customer expectation and actual treatment. Better the service quality, higher will be the customer satisfaction. This can gain more and more customers and more loyal customers. The major advantage of loyal customers is that these customers will not leave because of any small reason or any minor fluctuations in company’s performance. This study is restricted to a single product domestic pump and will investigate the role of service quality in creating loyal customers.
Keywords: Service quality, Customer loyalty, Domestic pumps.
Title: Impact of Service Quality on Customer Loyalty of Domestic Pumps
Author: FAZEEN RASHEED A K
ISSN 2349-7807
International Journal of Recent Research in Commerce Economics and Management (IJRRCEM)
Paper Publications
Banking Consumers: 5 Core Segments and How to Reach ThemCognizant
How can financial institutions grow profitable customer relationships? Given the twin pressures of recent regulatory changes coupled with a lower rate environment, our research sought to answer the central question.
MBA Projects, synopsis, and synopsis of various regular as well as distance learning undergraduate and postgraduate courses for various institutions like SMU – Sikkim Manipal University, SMUDE, AIMA, AMITY, IGNOU, SCDL, JAMIA, AMU, JHU etc.
Customer Relationship Management and Banking Sector Market Share performanceinventionjournals
The influence of customer relationship management (CRM) on Nigeria banking sector market share performance is the focus of this study. It examined the influence of customer identification, customer retention and technology on customer relationship management and banks market share performance. The ever increasing competition and dynamics in the market place and the need for banks to survive, grow and meet the stakeholders objectives calls for a meaningful long lasting relationship between marketers and all other stakeholders in the organisation. The population of this study consists of all 617 headquarters employees of the 21 deposit money banks in Port Harcourt metropolis that is registered with Nigeria Deposit Insurance Corporation (NDIC); while the sample size of 243 determined through the Tara Yamani formula. Questionnaire was used as an instrument for primary data collection. The Spearman’s Rank Order Correlation was the statistical technique employed for hypothesis testing in the statistical package for social sciences (SPSS) version 17. The findings of this study revealed that there is significant relationship between customer identification, retention, and market share; while technology positively influence CRM and bank market share performance. Customer identification and retention are dimensions of CRM, while market share is the measure of performance, with technology as moderating variable influence between CRM as a measure of bank performance. It is therefore noted that banks will have better competitive advantage when all relevant stakeholders appreciate and demonstrate these customer relationship management strategies with a view of achieving the desired corporate objectives.
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AI for customer success - An Overview.pdfStephenAmell4
Customer success is a strategic approach where businesses proactively guide customers through a product journey to ensure they achieve their desired outcomes, thereby enhancing customer satisfaction, loyalty, and advocacy. It involves dedicated teams or individuals focusing on customer objectives from the initial purchasing phase through onboarding, usage optimization, and renewal, often utilizing data-driven methods to predict and respond to customer needs.
Learn about Modernizing banking with business analytics.Harnessing information to deliver the insights that build profitability.With its proven technology and hallmarks of scalability, security and availability, System z offers a robust, cost-effective and secure solution for delivering the next generation of banking solutions.To know more about System z, visit http://ibm.co/PNo9Cb.
The Relationship between Customer Knowledge Management, Customer Relationship...inventionjournals
ABSTRACT: This study was aimed to assess the relationship between customer knowledge management and customer relationship management, with organizational innovation and customer loyalty (for consumers and retailers of protein industry in Isfahan province). The statistical population consisted of all employees (1385 people) and customers of nine production and distribution groups of the protein products in Isfahan province. Corresponding to the number in each group, stratified random sampling was made based on the contributions made, and 451 questionnaires were analyzed regarding the number of people in each group. The findings showed that there was a significant correlation between customer loyalty and customer relationship management, customer knowledge management and organizational innovation (P<0.01). The values of effective coefficients; β, showed that for every unit increase in innovation, knowledge management, and customer relationship management, the customer loyalty was increased 0.332, 0.331 and 0.331 units, respectively. According to the results of this study, it could be suggested that the protein industry retailers, must incorporate knowledge based and relationship marketing tools, such as customer relationship management, and customer knowledge management, for implementing customer loyalty strategies. Results of this study showed that organizational innovation should be considered as the first priority for implementing loyalty strategies of the organization.
CUSTOMER RELATIONSHIP MANAGEMENT PRACTICES IN SELECT PUBLIC AND PRIVATE SECTO...indexPub
In the ever-evolving landscape of the banking sector, adopting a customer-centric approach stands as a pivotal strategy for attaining sustainable competitive advantage. This study delves into the realm of Customer Relationship Management (CRM) practices within public and private sector banks in Chengalpattu District, unraveling the intricacies of their implementation and effectiveness. With a keen focus on customer retention and satisfaction, the research employs an exploratory approach to scrutinize various dimensions of CRM practices. The primary objective is to assess the contribution of CRM practices in crafting a sustainable competitive edge by comprehending and exceeding customer expectations.
Elevate your trade show game with our comprehensive guide on creating an interactive booth that captures attention and drives engagement! In this presentation, Blue Atlas Marketing shares practical tips and creative strategies to transform your trade show presence. Learn how to use digital displays, interactive demos, and engaging activities to attract visitors and make lasting impressions. Whether you're a trade show veteran or a newcomer, these insights will help you stand out from the crowd and maximize your event success. Dive into our slides to discover how to turn your booth into a dynamic and interactive experience!
Checkout Abandonment - CRO School by Mailmodosaba771143
Fear of abandonment’ means a whole different thing in eCommerce.
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But that also means there are real things you could fix.
One of the final stages of shopping abandonment occurs is the checkout page.
Which means it impacts your bottom line directly.
So here’s a rundown of:
→ Reasons shoppers abandon the checkout process
→ How other brands cope with these issues
→ Actionables to fix your checkout flow
Do it right, and you’ll feel the change in your revenue.
This is a part of our CRO School series - to help you fix the revenue leaks in your eCommerce store.
Sign up for CRO School and get these insights right in your inbox
(Visit the link to enroll ->https://www.mailmodo.com/cro-school/?utm_source=cro-school&utm_medium=slideshare )
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Exploring the Top Digital Marketing Company in CanadaSolomo Media
Choosing Solomo Media as your digital marketing company in Canada can propel your business to new heights. With their expertise, innovative solutions, and client-centric approach, they are well-equipped to help you achieve your digital marketing goals. By focusing on strategic planning, leveraging cutting-edge tools, and delivering measurable results, Solomo Media proves to be a valuable partner in navigating the complex world of digital marketing.
Dive deep into the cutting-edge strategies we're employing to revolutionize our web presence in the age of AI-driven search. As Gen Z reshapes the digital realm, discover how we can bridge the generational divide. Unlock the synergistic power of PPC, social media, and SEO, driving unparalleled revenues for our projects.
janani Digital Marketer|Digital Marketing consultant|Marketing Promotion|Coim...janudm24
Myself Janani Digital marketing consultant located in coimbatore I offer all kinds of digital marketing services for your business requirements such as SEO SMO SMM SMO CAMPAIGNS content writing web design for all your business needs with affordable cost
Digital Marketing Services | Techvolt Software :
Digital Marketing is a latest method of Marketing techniques widely used across the Globe. Digital Marketing is an online marketing technique and methods used for all products and services through Search Engine and Social media advertisements. Previously the marketing techniques were used without using the internet via direct and indirect marketing strategies such as advertising through Telemarketing,Newspapers,Televisions,Posters etc.
List of Services offered in Digital Marketing |Techvolt Software :
Techvolt Software offers best Digital Marketing services for promoting your products and services through online platform on the below methods of Digital marketing
1. Search Engine Optimization (SEO)
2. Search Engine Marketing (SEM)
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4. Social Media Marketing (SMM)
5. Campaigns
Importance | Need of Digital Marketing (Online Promotions) :
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2. Generation of More leads and Business Enquiries via Search Engine and Social Media Platform
3. Latest Technology development vs Business promotions
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Mastering Dynamic Web Designing A Comprehensive Guide.pdfIbrandizer
Dynamic Web Designing involves creating interactive and adaptable web pages that respond to user input and change dynamically, enhancing user experience with real-time data, animations, and personalized content tailored to individual preferences.
What is digital marketing And why is it used?125albina
Digital marketing refers to the use of digital channels, platforms, and technologies to promote products, services, or brands to a target audience. It encompasses a wide range of activities, including search engine optimization (SEO), social media marketing, email marketing, content marketing, pay-per-click (PPC) advertising, and more. The primary goal of digital marketing is to connect with potential customers where they spend much of their time: online. My Website: https://dev-topdigitalmarketingagency.pantheonsite.io/
QuickBooks Sync Manager Repair Tool- What You Need to Knowmarkmargaret23
Occurrence of technical errors on QuickBooks is common but it can be resolved with the use of QuickBooks Sync Manager Tool . With the help of this too, users can sync the QuickBooks Desktop company file with the Intuit online server. It is compatible with versions QuickBooks Pro, Premier, or Enterprise. In case a user faces sync-related errors then they simply need this repair tool.
Capstone Project: Luxury Handloom Saree Brand
As part of my college project, I applied my learning in brand strategy to create a comprehensive project for a luxury handloom saree brand. Key aspects of this project included:
- *Competitor Analysis:* Conducted in-depth competitor analysis to identify market position and differentiation opportunities.
- *Target Audience:* Defined and segmented the target audience to tailor brand messages effectively.
- *Brand Strategy:* Developed a detailed brand strategy to enhance market presence and appeal.
- *Brand Perception:* Analyzed and shaped the brand perception to align with luxury and heritage values.
- *Brand Ladder:* Created a brand ladder to outline the brand's core values, benefits, and attributes.
- *Brand Architecture:* Established a cohesive brand architecture to ensure consistency across all brand touchpoints.
This project helped me gain practical experience in brand strategy, from research and analysis to strategic planning and implementation.
First Things First: Building and Effective Marketing Strategy
Too many companies (and marketers) jump straight into activation planning without formalizing a marketing strategy. It may seem tedious, but analyzing the mindset of your targeted audiences and identifying the messaging points most likely to resonate with them is time well spent. That process is also a great opportunity for marketers to collaborate with sales leaders and account managers on a galvanized go-to-market approach. I’ll walk you through the methods and tools we use with our clients to ensure campaign success.
Key Takeaways:
-Recognize the critical role of strategy in marketing
-Learn our approach for building an actionable, effective marketing strategy
-Receive templates and guides for developing a marketing strategy
Trust Element Assessment: How Your Online Presence Affects Outbound Lead Gene...Martal Group
Learn how your business's online presence affects outbound lead generation and what you can do to improve it with a complimentary 13-Point Trust Element Assessment.
Short video marketing has sweeped the nation and is the fastest way to build an online brand on social media in 2024. In this session you will learn:- What is short video marketing- Which platforms work best for your business- Content strategies that are on brand for your business- How to sell organically without paying for ads.
Everyone knows the power of stories, but when asked to come up with them, we struggle. Either we second guess ourselves as to the story's relevance, or we just come up blank and can't think of any. Unlocking Everyday Narratives: The Power of Storytelling in Marketing will teach you how to recognize stories in the moment and to recall forgotten moments that your audience needs to hear.
Key Takeaways:
Understand Why Personal Stories Connect Better
How To Remember Forgotten Stories
How To Use Customer Experiences As Stories For Your Brand
In the digital age, businesses are inundated with tools promising to streamline operations, enhance creativity, and boost productivity. Yet, the true key to digital transformation lies not in the accumulation of tools but in strategically integrating the right AI solutions to revolutionize workflows. Join Jordache, an experienced entrepreneur, tech strategist and AI consultant, as he explores essential AI tools across three critical categories—Ideation, Creation, and Operations—that can reshape the way your business creates, operates, and scales.This talk will guide you through the practicalities of selecting and effectively using AI tools that go beyond the basics of today’s popular tools like ChatGPT, Claude, Gemini, Midjourney, or Dall-E. For each category of tools, Jordache will address three crucial questions: What is each tool? Why is each one valuable to you as a business leader? How can you start using it in your workflow? This approach will not only clarify the role of these tools but also highlight their strategic value, making it perfect for business leaders ready to make informed decisions about integrating AI into their workflows.
Key Takeaways:
>> Strategic Selection and Integration: Understand how to select AI tools that align with your business goals and how to conceptually integrate them into your workflows to enhance efficiency and innovation.
>> Understanding AI Tool Categories: Gain a deeper understanding of how AI tools can be leveraged in the areas of ideation, creation, and operation—transforming each aspect of your business.
>> Practical Starting Points: Learn how you can start using these tools in your business with practical tips on initial steps and integration ideas.
>> Future-Proofing Your Business: Discover how staying informed about and utilizing the latest AI tools and strategies can keep your business competitive in a rapidly evolving digital landscape.
The Forgotten Secret Weapon of Digital Marketing: Email
Digital marketing is a rapidly changing, ever evolving industry--Influencers, Threads, X, AI, etc. But one of the most effective digital marketing tools is also one of the oldest: Email. Find out from two Houston-based digital experts how to maximize your results from email.
Key Takeaways:
Email has the best ROI of any digital tactic
It can be used at any stage of the customer journey
It is increasingly important as the cookie-less future gets closer and closer
Enhancing a Luxury Furniture E-commerce Store with Expert Shopify ManagementSunTec India
SunTec India's expertise in Shopify store management has been a game-changer for a luxury furniture e-commerce business. Through meticulous optimization of product listings, strategic SEO practices, and an enhanced user experience, this case study details the successful outcomes of their collaboration, including increased traffic, higher conversion rates, and stronger brand presence.
Read more- https://shorturl.at/yl3MU
Enhancing a Luxury Furniture E-commerce Store with Expert Shopify Management
Customer Relationship Management in Banking Industry
1. Customer Relationship Management in Banking Industry
Customer Relationship Management in Banking Industry
Dr. Sakshi Arora*
Abstract
Customer Relationship Management is human function than technology
implementation. Banks need to constantly orient their employees and
vendors towards never losing focus of the customers, technology can be
harnessed to unable the human aspect to function more effectively. A
successful relationship will be one that lowers the business cost, increase
the company revenue and retains profitable relationship, win situation for
the company business and its valuable assets and business customers. The
banking business is becoming more and more complex with the changes
emerging from the liberalisation and globalisation. For new banks,
customer creation is important but established bank retention is much
more necessary with cost effective mechanism. The big benefit of customer
relationship management is the visibility of everything relating to
customers going on in your company. If an organization wants to provide
the better service to customers, it has to be able to manage everything
from complaints to sale opportunities. The core theme of all customer
relationship management and relationship marketing perspectives is to
focus on cooperative, collaborative relationship between the firm and its
customers and look after the marketing factors. Through this paper
researcher want to show the significance of customer relationship
management and also made as effort to explore the benefits of this concept
to banking industry.
Keywords: Customer Relationship Management, Efficiency, Customer
Expectation.
*
Asst. Professor, Department of Business Administration, Biyani Group of
Colleges, Jaipur.
2. Professional Panorama: An International Journal of Management & Technology
Customer Relationship Management in Banking Industry 98
Introduction
The economy is recovering and business map is changing dramatically.
No longer and customers are willing to remain customers unless
organisation provide them with actual values to get to know them
personally or at least know what they want. Customer Relationship
Management is a business strategy which includes the people, processes
and technology associated with the marketing and services plans. It
provides information for every activity which is required to bind a
customer. The primary objective of customer relationship management is
to provide entire organisation with 360 degree view of customers where
information resides and customers can gain information. To get the
benefit of customer relationship management it’s important to have an
integrated solution across the customers information system tying
together the front and the front offices for a complete view of customers
in order to provide them better services. Businesses today are looking for
the ways to achieve a competitive benefit. Margins are decreasing,
competition is increasing and industries are consolidating. The basic
concept of customer relationship management reflects the business
process and technology that can be combined to optimise revenue,
profitability and royalty of customers.
It is a sound business strategy to identify the banks most profitable
customers and to devote time and retention to expending account
relationship with banking industry in India with rapid changes followed
by a series of fundamental developments. Performance of banks with
special reference to customer relationship management is to examine
role of banking industry in development of economy and to explore the
economy of the market on one hand and to trace the causes of
development in balance on the other hand and increase the possibility of
proper decision making in banking industry.
The importance of customer satisfaction and customer service is relating
to banking industry in which the main function is to guide the
3. Professional Panorama: An International Journal of Management & Technology
Customer Relationship Management in Banking Industry 99
programme to fulfil the customer expectations which also change to time
to time. In managing the human side of quality services its typically most
effective and efficient to plan from the top down, and bottom up
approach. This means the quality is define by the highest level of
management but implemented in waves starting from the frontline of the
bank. The reason to start there is that they create more customer contact
than any other area of the bank
Significance of Study
Customer retention through better services is very significant for any
business enterprises. The slowdown in global economy among the
enterprise made the companies to focus at cost factor and growth in
profitability. Managing the good relationship with the customers is the
only key to success for the survival of the business. Customer
relationship management helps in tracking marketing opportunities
better and focus on the customer who not only increase the sales volume
but also helps in increasing profit. Customer Relationship Management is
defined as tracking customer behaviour in order to develop marketing
and customer relationship to a brand often by a development of software
system provided one on one. A successful customer relationship
management strategy should be at a heart of business model which focus
on flexibility, real time responsibility and proper focus on customers.
Customer Relationship Management Objectives in Banking Sector
Expectations get formed on the basis of banks past buying experience,
statements made by friends and associates, marketer, competitors and
promises. If the marketer raises expectations too high and company
cannot match its delivery with the expectations level, the banks is likely
to be disappointed. On the other hand if the company sets expectations
too low, it won’t attract enough buyers although it will satisfy those who
buy. The idea of customer relationship management is that it helps to
business and human resource gain insight and increase the value of
customers. For the customer relationship management to be more
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Customer Relationship Management in Banking Industry 100
effective it’s necessary for the organisation to decide what kind of
information is to be given to the customers. Many financial institutions
keep a track of customer’s different life stages in order to market
appropriate banking products at right time. So that it can fulfil the needs.
In customer relationship management aspects the following information
should be collected to do the process that is: response to campaigns,
sales and purchase of data, service and support record, demographic
data and web sales data. The main objectives of Customer Relationship
Management in banking industry are:
1. To examine and evaluate the performance of banking sector with
special reference to customer relationship management.
2. To examine the role of banks in the development of economy.
3. To examine the opinion of customers as to customer relationship
management with respect to service quality management.
4. To explore the economy of market and to trace causes of in balance
on the other hand.
5. To increase the level of decision making for better customer
relationship management.
6. To study the opinion of customers with respect to Customer
Relationship Management.
Scope of Study
In present study impact of Customer Relationship Management on the
banking sector after 1991 on financial sector reforms is studied and the
achievements of the programme are evaluated so that proper conclusion
can be drawn and study of significant change will took place in the
working and operation aspects of banking industry in India.
Today many business houses such as banks, insurance companies and
other providers relies the importance of customer relationship
management and its potential to help them acquiring new customers for
maximum period of time. The banking sector plays a major role in the
mobilisation and allocation of financial saving in economy and in
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Customer Relationship Management in Banking Industry 101
facilitating fund flow among the various sub sectors. Banking sector and
financial market together act to transfer financial resources from the net
saver to a net borrower. The result and gain to the real sector of the
economy depends upon the efficiency of banking sector to perform the
function of financial intermediation. The major adopted aim in
introducing in Indian banking system is to improve their operational
efficiency and strengthen the financial position which is pre-requisite of
the exposure to globalise banking environment. Over the years the
control is eased in gradual manner. Therefore the focus of reform should
be to improve the role of banks in developing control over the banking
activity and increase and customer relationship management level.
Conclusion
A successful relationship will be one that lowers the business cost,
increase the company’s revenue and retain profitable relationship, focus
on companies business and is valuable assets and business customers.
Customer Relationship Management has attached the expended attention
of scholar and practitioners impact of this concept on banks focus on
need and expectations of customers. The ultimate test of the banking
sector is customer satisfaction which plays an important role in the
growth of banking industry.
References
1. Beasty, Colin (2015), Tracking The Evaluation of Customer
Relationship Management, Customer Relationship Management, Vol.
9, No. 2, February, pp.19.
2. Profile of banking industry Highlights, pp.12.
3. Rust, R-T, Zahoric, Customer Retention, Customer Satisfaction,
Market Share, Journal of Retailing, Vol. 69, pp. 190-205.