Customer Relationship Management (CRM)

Customer Relationship Management is a corporate level strategy that focuses on creating and maintaining lasting relationships with its customers.

Although there are several commercial CRM software packages on the market, a successful CRM strategy cannot be implemented by simply installing and integrating a software package and will not happen overnight.

To be effective, the CRM process needs to be integrated end-to-end across marketing, sales, and customer service. A good CRM program needs to:

• Identify customer success factors
• Create a customer-based culture
• Adopt customer-based measures
• Develop an end-to-end process to serve customers
• Recommend what questions to ask to help a customer solve a problem
• Recommend what to tell a customer with a complaint about a purchase
• Track all aspects of selling to customers and prospects as well as customer support.

Future Banking examines the changes that must occur at all levels including policies and processes, front-of-house customer service, employee training, marketing, systems and information management to ensure all aspects of the business are customer driven.

Thought Leaders
	Issue 2008-1		Hands-on Dexia Dirk Hoebeeck, Dexia Click here to read
			Charting a Course Helen Kan, Standard Chartered Bank Click here to read
	Issue 2007		24-Hour Service Dirk Hoebeeck, Dexia Group Click here to read
			Customers Go Hands-Free Chris Skinner, Financial services Club Click here to read
	Issue 2006		Responding to the Customer Barnaby Davis & Daniel Meere, Barclays Click here to read