Measuring Effectiveness of Customer Relationship Management in Indian Banking Sector

Abstract

Customer is a king and Customers are the mainly focused in making new marketing strategy. In the
banking field a unique relationship exists between the customers and the bank. But because of various
reasons like lack of training, new technology literacy, financial targets, risk of failure etc., some banks
are still following the traditional ways of marketing and another hand some are making attempts to
adapt CRM. It is with this background; the researcher has made a modest attempt towards the idea
that CRM can be adapted uniformly in the banking industry for betterment of Banking Services.
Understanding on Customer Relationship Management is always a concern among the service
providers especially banks. Banks makes their own way of managing their relationships new and
existing customers. The aim of this paper is to examine the Customer Relationship Management as a
new methodology looks forward to identify and attract consumers through the process of developing
relationships (business - customer). The methodology of the CRM aims to maintain customer
satisfaction and increase consumer loyalty. The purpose of this paper is to study the importance of
CRM systems and in-depth knowledge of methods and management techniques customer
relationships.

KEYWORDS: Customer Relationships Management, Customer Satisfaction, Customer Loyalty,
Data, Information, Banks