Volume : 7, Issue : 5, May - 2018

A study on CRM services in Selected Banks

Dr. A. Duraikannan

Abstract :

The need to better understand customer behavior and the interest of many managers to focus on those customers who can deliver long-term profits has changed now. Traditionally marketers have been trained to acquire customers, either new ones who have not bought the product before or those who are currently competitors Customers. This has required heavy doses of mass advertising and price-oriented promotions to customers and channel member. Today, particularly for the company’s “best” customers the tone of the conversation has changed from customer acquisition to retention. This requires a different mindset and different and new set of tools.                  CRM is neither a product nor a service, But a business strategy to learn more and more about the customers’ behavior them. In other words, CRM is a comprehensive approach that provides seamless integration of every aspect of bank’s business that come in contact with the customer at various stages such as marketing, service delivery after –sales –service etc. through the integration of people, process and technology. It is a comprehensive strategy and process of acquiring, retaining and partnering with selective customers to create supervisor value for the bank and its customers.