Posted: July 22nd, 2015

To analysis the effectiveness of implementing customer relationship management in retail banking industry in US

Research objective: Since how banks manage and improve their relationships with customers 
for long-term profitability is a key to success. This paper reports on a study of the impact of CRM implementation on retail banking sector in several objectives

1) its potential to help banks to acquire new customers to open new accounts and existing customers to refer business to the bank to open new member-get-member accounts

2) focus on allocating resources such as spending more resources on high potential customers and spend less costs on mass market customers, effectively control the costs to support business activities in order to gain competitive advantages

3) the outcome on how the trust between bank and its customers is developed and the contribution on improved customer relation influences the customer to the loyalty of the bank by measuring the frequency of transactions and investment trading amount

4) its possibility that to help bank to achieve the goal of enhancing customer satisfaction, retaining customers by studying on the complaint case received and account closed ratio, it’s possible to gain strategic advantages over its competitors.

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