Professional Documents
Culture Documents
Group Members
Shraddha Kanase Ulka Khedekar Soniya Badekar Prashant Jagtap Neha Kale Sheikha Kaul Sunny Jain 41 44 03 36 40 45 06 (PG)
Bank
1. Public Sector Unit : 2. Foreign Bank :
3. Private bank:
4. Co-op bank:
Content
1) CRM 2) BANKING TODAY 3) BUSSINESS TO BUSSINESS 4) BENEFITS OF CRM 5) CRM PROCESS 6) CRM TECHNOLOGY 7) FUTURE OF CRM 8) CHALLENGES IN IMPLEMENTING CRM 9) RESEARCH METHODOLOGY 10) FINDI NGS OF IDBI BANK 11) FINDINGS OF HDFC BANK 12) FINDINGS OF DEUTCHE BANK 13) FINDINGS OF CKP CO OPERATIVE BANK 14) CROSS SECTION ANALYSIS 15) RECOMMENDATIONS 16) CONCLUSION
CRM
CRM (customer relationship management) is an information industry term for methodologies, software, and usually Internet capabilities that help an enterprise manage customer relationships in an organized way. 1) Helping an enterprise to enable its marketing department. 2) Assisting the organization to improve telesales, account, and sales management. 3) Allowing the formation of individualized relationships with customers, with the aim of improving customer satisfaction and maximizing profits. 4) Providing employees with the information and processes necessary to know their customers.
Banking Today
Banking Today explains the role of banks in today's economy, describes bank competitors, and identifies banking developments and trends. It does not assume prior familiarity with banks or banking terminology. 1) In banking, ATMs and Internet banking have lowered the cost of service and accommodated consumers' schedules, yet limited the need for personal contact. 2) In short, employees must understand the difference between simply "pushing" products or services and a business strategy focused on developing long-term relationships with customers. 3) Building relationships in any industry doesn't happen overnight.
Business To Business
Business-to-business (B2B) describes commerce transactions between businesses, such as between a manufacturer and a wholesaler, or between a wholesaler and a retailer. 1) The volume of B2B (Business-to-Business) transactions is much higher than the volume of B2C transactions. 2) When communication is taking place amongst employees, this can be referred to as "B2B" communication.
Crm In Banking
Customer centric Technology 5% increase in customer retention- increase in 35% of profitability,50%in insurance and brokerage,125% in consumer credit card market. Pressure of competitive and dynamic market
Benefits Of CRM
1)CRM Banking Focuses on the Customer 2)Overall Profitability 3)Satisfied Customers 4)Centralized Information 5)Customer Segregation 6)Aggressive Customer Acquisition 7)Improved Cross-sell Framework 8)Increased Operational Efficiencies and Collaboration 9)Campaign Management 10)Customer Information Consolidation 11)360-degree view of company 12)Personalized sales home page 13)Operational Inefficiency Removal 14)CRM with Business Intelligence
CRM Process
CRM Technology
Phone calls
Emails mobile phone text messages WAP services CRM software- Front office solutions Website
E-CRM
Electronic CRM concerns all forms of managing relationships with customers making use of Information Technology (IT).
Future Of Crm
1) Economy is now driven by customers and not by sellers as in the past. 2) Technology will improve to put more functionality tools in CRM applications as there is more demand for knowledge management systems, sales coaching systems, and service intelligence systems. 3) These will give way to voice activated and speech feed-back tools and other elaborate visual aids using 3-D and CAD style graphics.
Research Methodology
Objective : To Find out how the various banks manage the CRM and also to conduct a cross analysis of CRM Practices of public, private, foreign and co-operative banks. Methodology : The Survey research was carried out in following four ways : Step 1 : Research Approach Step 2: Selection of the sample Step 3 : Data Collection Step 4 : Data Analysis Method
Banks Offerings
Preferred Banking 24 hrs Banking Corporate Banking Agri Finance Treasury Banking Investment Banking NRI services Deposits Loans Cards Personal Banking Business Banking NRI Banking Loans Investments Insurance Cards Direct Channels Services Doorstep Banking International banking
Banks Offerings
Personal Banking
NRI Banking Wholesale Banking Saving account Recurring account Loans Fixed deposits Current account Mutual Funds Insurance ATM services RTGS NEFT
C. CRM TECHNOLOGY
Finacle (Infosys) Call center Automation Emails Fax SMS
C. CRM TECHNOLOGY
In the branch of lower parel there is no particular technology used by the bank other banks are using a technology or CRM software.
C. CRM TECHNOLOGY
CKP BANK do not use any technology They maintain customer relationship management manually.
B. CRM PROCESS
Collection of information of the potential customer. What offering should be provided. Communication as per the needs of the customer. Following Up.
Cross Analysis
Cross Analysis
CRM Definition/ View Personnel Interaction Customer Oriented Approach Marketing, Sales & Support
IDBI BANK
Use its own salesforce automation and also outsource when needed. uses its own salesforce
DEUTCHE BANK
HDFC BANK
First on Calling if required then personnel interaction To all types of customers but more emphasis on b2b customers
Different type of approaches for different customers Different approach to different type of customer.
Separate department is their for Marketing and sales Bank have own sales force to take care of marketing and sales .
CKP BANK
Cross Analysis
Relationship Evolution IDBI Bank Awareness Exploration Expansion Commitment Dissolution / Re- intention Add value to the offering Providing with lucrative offers. Giving various offers to the customers Pamplets and advertising Advertising is done through local news papers Through advertisements in T.V, newspaper, Radio , Pamplets, banners and through direct meeting Create awareness through advertising in local newspaper ans direct meeting. Cold calls,meetings and campaign Direct meeting,cold calling Newspaper, Cold Calling, Direct meeting Cross selling and up selling Up selling,providin g customized services Giving certain benefits to the customer, Crossing selling and up selling Long term relationship Long term relationships
DEUTCHE Bank
HDFC BANK
CKP Bank
Cold calling and direct meeting the customer to explore about the products.
Cross Analysis
CRM application usage Call Center Automation Campaign Management Contact Management Data Warehousing Marketing Management Sales force Automation IDBI Bank YES YES YES YES YES YES DEUTCHE BANK YES YES YES YES YES YES HDFC BANK YES YES YES YES YES YES CKP BANK NO NO YES YES NO YES
Cross Analysis
Benefits of CRM IDBI BANK Long Term Relationship YES YES YES YES YES YES YES YES YES YES DEUTCHE BANK HDFC BANNK CKP BANK
Customer YES Satisfaction Customer YES Retention & Loyalty Higher Profitability YES
YES
YES
NO
Communication Co-ordination
Recommendations
Loyalty programs Campaign Management Need to open more branches Loyalty Programs
Recommendations
Appoint a separate CRM department. Have a centralized management system so better to co ordinate. Use the CRM technology in all branches rather in specific branches.
Have a separate department for CRM. Appoint an authority to co ordinate for CRM . Adopt technological approach for CRM so that would reduce the time and effort.
Conclusion
Every bank practices CRM but their strategies differ . Some banks use CRM technology as a aid to CRM process but some banks who cannot afford CRM technology do not use the technology but still they do practice CRM manually. It is been observed that all banks knows the importance of customers and the need for CRM. All banks fallows a customer oriented approach and customers are their point of focus.