Crm in the Banking Industry

The five functions of CRM are sales, marketing, support, finance and executive. Some examples that would fall in the sales kinfolk would be lead/prospect generation, qualification, distribution, tracking, digest, reporting, confrontation planning, proposal generation and support, and competitive analysis. Some examples of marketing would be campaign management, literature fulfillment, marketing penetration and segmentation, event planning, analysis & reporting, database marketing, list management, product development and support, and RFP support. RFP categorizes customers in detail by dint of three aspects recency, frequency, and monetary. Examples of support would be phone/web/ netmail interactions, help desk, order entry, statements and invoices, credit and collections, web self-service, live-chat, problem resolution, customer implementation, and field support. Examples of finance would be customer profitability analysis, parentage reporting, statistical analysis, and product launches. Examples that would fall in the executive category would be sales & marketing reporting, analysis, trends, graphs, and summary. Every function of CRM is considered principal(prenominal) to a company in implementing a successful CRM system.

customer Relationship Management (CRM) is a customer-centric business strategy with the closing of maximizing profitability, revenue, and customer satisfaction. Technology to support CRM initiatives must be integrated as part of an overall customer-centric strategy. Many CRM initiatives build failed because implementation was limited to software installation without alignment to a customer-centric strategy (http://wikipedia.org/wiki/Customer_relationship_management). The chart below shows the functions that CRM is involved in as mentioned above. (http://crm.manufacturer-supplier.com/) The goal of CRM is to help businesses use technology and human resources to watch a better understanding of the behavior of customers and the value of... If you emergency to get a full essay, order it on our website: Orderessay

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