A study on CRM effectiveness in public and private sector banks

Abstract

Companies have realised the importance of CRM in retaining existing customers, acquiring new customers and maximising their lifetime value. The purpose of this study is to measure the effectiveness of CRM practices in banks. To identify the antecedents which are more important to build good relationship between banks and their service users and to compare the effectiveness of CRM in public and private sector banks in Delhi. For this, the customers of private and public banks were surveyed with given 24 different statements regarding CRM practices adopted by different banks. The results of factor analyses revealed four dimensions for CRM, namely, customer experience, technology-orientation, organisational commitment and processdriven approach and reliability. This survey helps to evaluate the actual perception of service users towards CRM practices of each bank. The identification of the parameters will help bank manager to effectively implement CRM that increases customer satisfaction and loyalty.

Elevating Customer Relationship Management in Chinese Banking: A Synergy of Information Technology and Strategic Practices

“…Successful CRM and technology implementation leads to customer loyalty. Studies show that continuous and tailored brand interactions boost consumer pleasure and loyalty (Buttle & Maklan, 2015;Saxena & Taneja, 2018). Technology enables loyalty programs, data-driven customisation, and customer-centric communication, which help build and maintain consumer loyalty.…”

Model of Factors Impact on the CRM Performance

“…In fact, CRM technology is the backbone of various operational aspects of CRM, such as the automation of the sales force and operations of the call center (Qusay H. Al-Salami, 2019). Accordingly, it is necessary from both perspectives of administrative and academic departments to understand how organizations use, implement, and take advantage of these technologies (Saxena, 2018).…”

A Digital Model Assessing the Impact of Customer Experience on Profits

“…За останні 20 років впровадження концепції клієнтського досвіду дослідженню оцінки її ефективності свої праці присвятили: Berraies S., Chtioui R., Charher M. [1], Farooqi R., Raza Kh. [2], Hair J. F., Black B., Babin B., Anderson R. E., Tatham R. L. [3], Kotler P., Keller K. L. [4], Mithas S., Almirall D., Krishnan M. S. [5], Padmavathy C. [6], Rigby D. K., Reichheld F. F., Sasser P. [7], Saxena N., Taneja M. [8], Simanjuntak E. R., Firmanzah, Balqiah T. E., Pawitra T. [9], Bonanno S. [10], Tariq M., Jamil A., Ahmad M. S., Ramayah T. [11], Білявський В. М. [12], Кочубей Д. В., Григоренко Т. М.…”

“…У роботі [5] виявлено, що фірми, які використовують CRM-системи, мають більш високий рівень ефективності маркетингу. Результати дослідження [8] свідчать про те, що для підвищення ефективності бізнесу слід впроваджувати визначені ключові аспекти CRM, а саме: досвід клієнтів, технологічну орієнтацію, організаційну прихильність і підхід, орієнтований на процеси та надійність.…”