Industrial customer banking
Abstract : To succeed in today’s fast and competitive markets, organizations must find new and effective ways to open revenue streams, improve enterprise efficiency and foster profitable long-term growth. Many of the world’s leading business organizations are achieving those core objectives by focusing intently on the quality and lifetime value of their customer relationships. By adopting an integrated, approach to sales and service interactions, these world-class organizations are relearning the traditional lesson of putting the “customer first.” Customer relationship management is a business strategy that provides the enterprise with a complete, dependable, and integrated view of its customer base. Although e-CRM research is prolific, there appears to be a lack of consistent understanding and agreement as to the operationalization of the term e-CRM. Some research refers to e-CRM as a philosophy (Crafton, 2002), some consider eCRM a marketing strategy (Bai, Hu, and Jang, 2006), and others refer to specific software tools, methods, and systems as e-CRM (H. M. Chen, Chen, and Kazman, 2007; Scullin, Fjermestad, and Romano, 2004). E-CRM system brings together lots of pieces of information about customers, sales, market trends, marketing effectiveness and responsiveness. e-CRM system helps companies improve the profitability of their interactions with customers while at the same time making those interactions appear friendlier through individualization. e-CRM purpose is to enhance customer satisfaction and retention by alignment of customer business processes with technology integration. This particular research tries to explore the relationship between technology and effective e-CRM in business organizations, especially banks, which influence the sustainable service process.
? They have influenced how banks must re-position themselves to take advantage of new opportunities that include establishing new service delivery channels and new market for existing services (loan, letters of credit etc).
? In peripheral and relatively small economies it is vital that SMEs are able to see that a market, other than in a domestic setting, exists for their product or service offering.
? Some advantages exist when the institution considers using an e-CRM approach to its service interaction marketing, such as quick service/response time, two-way interactive service relationships, and the ability to provide service for customers from anywhere at any time.
? The issue identified here is how far the website of the banks is ensuring its quality by supporting the customers in their banking transactions with which the customers feel better relationship management through the institutional website.
? Customer data can be analyzed from multiple perspectives to discover which elements of a marketing campaign had the greatest impact on sales and profitability.
? A positive impact on the ‘bottom line’ is therefore expected from an organization dedicating resources to eCRM.
? The study aimed to establish the relationship between e-CRM practices and the website service quality by examining the impact of e-CRM practices on customers’ perceptions of website service quality.
• E-CRM purpose is to enhance customer satisfaction and retention by alignment of customer business processes with technology integration.
• They give more importance to responsiveness and the business process like web service quality variables which is having more pragmatic in their day to day professional purpose.
• The customers are having more interest in quick load of the website, easy use of website, happy with the use of the website by saving more time in business transactions.
• Though the customers are making use of the web for the financial transactions they are bit concerned about the trust worthiness of the website transactions.
? E-CRM involves far more than automating processes in sales, marketing, and service and then increasing the efficiency of these processes.
? Thus, by deploying an e-CRM strategy to maintain relationships with customers, an organization will be better equipped to serve their customers’ desires and improve their loyalty, which will in turn improve the organization’s efficiency and profitability.
? In general, the value of e-CRM comes in lowering costs, enabling more efficient business practice and creating competitive advantage.
? To answer a large number of e-mails quickly and cost efficiently automated email reply systems are increasingly implemented.
? E-CRM describes the broad range of technologies used to support a company’s CRM strategy.
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