Title: Customer relationship management in Indian Banking Sector
Abstract: Nowadays, 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 through providing need based services in the changing economic scenario. 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/segmented customers. This paper deals with the role of customer Relationship Management in banking sector and the need for Customer Relationship Management to increase customer value and customer base by using some analytical methods in CRM applications. 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, reprising, discretionary decision making, and customized service – all delivered through the various sales channels that the bank uses.
Publication Year: 2015
Publication Date: 2015-01-01
Language: en
Type: article
Access and Citation
Cited By Count: 5
AI Researcher Chatbot
Get quick answers to your questions about the article from our AI researcher chatbot