Evaluating Customer Relationship Management (CRM) as a Business Knowledge and Intelligence Management Tool

2021 ◽  
Vol 3 (2) ◽  
pp. 171-184
Author(s):  
Muhammad Saqib ◽  
Robin Zarine
Keyword(s):  
Customer Relationship Management ◽  
Business Intelligence ◽  
Banking Industry ◽  
Relationship Management ◽  
Customer Relationship ◽  
Management Tool ◽  
Primary Data ◽  
Recruitment And Retention ◽  
Business Knowledge ◽  
Retail Banks

Tense competitions have always been the case in the banking industry. Its very customer-oriented nature explains the need to recognize the importance of customers with respect to growth and success, and so the battle to recruit new and retain existing customers are inevitable. Related competitiveness in such area has been highly linked to effective Customer Relationship Management (CRM) systems implementation that can provide the necessary business knowledge and intelligence. This paper seeks to evaluate the preparedness and the extent Omani retail banks are incorporating CRM as a business knowledge and intelligence management tool to assist in their customer recruitment and retention activities. This study uses a quantifiable methodology with MS Excel data analytic tool to analyse primary data to determine the extent to which CRM systems are being incorporated as a business knowledge and intelligence management tool in the banking industry. Data were collected across departments from 5 of the 7 Omani retail banks with average ratings used for each question. The findings show that CRM as business intelligence management tool is already well incorporated in banks of Oman and the banks are also well equipped to further embrace such tools to strengthen their customer recruitment and retention capabilities. The findings also show that the banks have the necessary Information Technology capabilities, Customer Service capabilities and marketing capabilities which have assisted them to deliver higher quality customer services, run more effective marketing and promoting campaigns, and enhance their management decision making. The findings should assist decision-makers in realizing the importance of CRM with appropriate kind of functionalities as a business intelligence tool to optimize customer recruitment and retention activities.

Does Technology Acceptance Change the Way from CRM to Customer Loyalty?

2010 ◽  
Vol 2 (3) ◽  
pp. 44-56
Author(s):  
Yi-Yuan Liu
Keyword(s):  
Technology Acceptance ◽  
Customer Relationship Management ◽  
Customer Loyalty ◽  
Banking Industry ◽  
Relationship Management ◽  
Mediating Effect ◽  
Customer Relationship ◽  
Continuance Commitment ◽  
Retail Banks ◽  
The Relationship

This study explores the moderating effect of technology acceptance on the relationship between customer relationship management (CRM) in terms of distribution and tailor-made functions and customer loyalty in the banking industry. The author uses LISREL two-group path analysis to find the variances between high and low technology acceptance. Data collected from the customers of nine retail banks show that commitments have a mediating effect on the relationship between the tailor-made function of CRM and customer loyalty, while technology acceptance has significant effects on both relationships between the two functions of CRM and continuance commitment.

scholarly journals Impact of Online Customer Relationship Management (OCRM) Upon Customers Satisfaction in Post Covid-19 Scenario. A Case Analysis of Standard Chartered Bank Pakistan

2020 ◽  
Vol 9 (4) ◽  
pp. 180-195
Author(s):  
ALI MUHAMMAD ◽  
AIZA HUSSAIN RANA
Keyword(s):  
Customer Satisfaction ◽  
Customer Relationship Management ◽  
Banking Industry ◽  
Causal Relation ◽  
Relationship Management ◽  
Case Analysis ◽  
Developed Countries ◽  
Customer Relationship ◽  
Primary Data ◽  
Online Services

This study investigates the impacts of online Customer Relationship Management (OCRM) on the level of customer satisfaction and retention in the Pakistani Banking industry. Recent past has witnessed workplace shift toward workspace especially in post-Covid scenario. Covid-19 pandemic have pushed banks in developed countries to move its day-to-day operations to purely online, following which Pakistani banks are also going global yet customer satisfaction and retention still remains a dilemma. A case analysis of Standard Chartered Bank has been chosen in the relatively troubled state of Khyber Pakhtunkhwa. This research is an attempt to empirically highlight the importance of OCRM for the banks’ overall growth and performance. A causal relation between customers’ satisfaction and retention with that of OCRM is examined through various pathways. Primary data from 100 staff members from 18 branches of the bank were collected using convenience sampling and questionnaire-based survey in summer 2020. Six hypotheses were developed and testing using regression analysis. The results suggest that OCRM bears direct positive relation with customer satisfaction and retention with moderating effects of perceived value, price and switching cost. Through customized services, banks should rigorously pursue online services and treat this pandemic an opportunity. Online services can be viable platform for positioning the banks’ new offerings to customers. Important lessons and recommendations for banking industry are put forward. The paper concludes with limitations and contributions. Keywords: Standard Chartered, Online CRM, customers, satisfaction, retention, banks, Covid-19.

scholarly journals Customer Relationship Management In Banking Sector Case Study Of Conventional Banks

2021 ◽  
Vol 2 (6) ◽  
pp. 2136-2142
Author(s):  
Dennis Rydarto Tambunan ◽  
Heru Kreshna Reza ◽  
Melly Susanti ◽  
Sabri
Keyword(s):  
Customer Relationship Management ◽  
Financial Services ◽  
Customer Value ◽  
Banking Sector ◽  
Relationship Management ◽  
Secondary Data ◽  
Customer Relationship ◽  
Primary Data ◽  
Public Sector Banks ◽  
Conventional Banks

The importance of Customer Relationship Management (CRM) to help businesses acquire new customers, retain existing ones and maximize their lifetime value. This paper discusses the role of Customer Relationship Management in 4 bank units and the need for Customer Relationship Management to increase customer value by using several analytical methods in CRM applications. This paper attempts to identify the technological revolution witnessed by commercial banks and to what extent it has benefited banks to build better customer relationship management (CRM) services between public sector banks and private sector banks. The purpose of this study is 1) to analyze customer opinions about bank CRM in relation to service quality management. 2) To find out the customer's opinion about the bank's CRM on customer relationship management. This study uses primary and secondary data. Primary data will be collected by distributing structured questionnaires to conventional banks (Private and Government). Secondary data will be collected from records published by the financial services authority (OJS), standard textbooks and published research papers, and through web information. The primary data required will be collected from 6 banks in Bengkulu. In addition to collecting information from banks, it also collects information from the general public who have bank accounts.  

scholarly journals Pengaruh Harga, Kualitas Pelayanan, dan Costumer Relationship Management Terhadap Keputusan Pembelian Pada Asuransi Astra (Garda OTO)

2021 ◽  
Vol 4 (2) ◽  
pp. 673-679
Author(s):  
Dhita Adriani Rangkuti ◽  
Mey Monita Lestari Manalu ◽  
Sartika Nanda Lestari ◽  
Brian Robuli ◽  
Irfan Boy Samosir
Keyword(s):  
Service Quality ◽  
Hypothesis Testing ◽  
Customer Relationship Management ◽  
Significant Influence ◽  
Relationship Management ◽  
Customer Relationship ◽  
Primary Data ◽  
Test Results ◽  
Purchasing Decisions ◽  
F Test

The purpose of this study was to determine and analyze the effect oprice, service quality, and customer relationship management on the purchase decision of Asuransi Astra Garda OtoMedan, JL.ImanBonjol. The data used are primary data obtained from the answer of 85 respondents by accidental sampling method. Data collection techniques used in this study used a questionnaire and interview technique. Data analysis techniquesin the study used linear regression, classic assumption  tests, hypothesis testing (t test and f test) and the coefficiecnt of determination. Hypothesis testing results indicate that partially (t) obtained value for t count price of 2,833 > t table 1,658 and sig value obtained 0,005<0,05 which means that price has a positive and significant influence on purchasing decisions in using Astra Insurance services (Garda Oto). Partially obtained value for service quality tcount 5.152 >ttable 1.658 and sig value obtained 0.000 <0.05 which means that service quality has a positive and significant influence on purchasing decisions in using Astra Insurance (Garda Oto) services, partially obtained value for customer relationship management t count 8.878 > 1.658 t table and the sig value obtained is 0.000 <0.05 which means that customer relationship management has a positive and significant influence on purchasing decisions in using Astra Insurance (Garda Oto) services, for the F test results obtained calculated F value = 77.769 > f table (2.69), and a significance probability of 0.000 <0.05, meaning that simultaneously prices, service quality and customer relationship management have a positive and significant effect on purchasing decisions in using Astra Insurance Services (Garda Oto). Keywords: Price, Service Quality, and Customer Relationship Management.

Does Technology Acceptance Change the Way from CRM to Customer Loyalty?

2012 ◽  
pp. 98-111
Author(s):  
Yi-Yuan Liu
Keyword(s):  
Path Analysis ◽  
Technology Acceptance ◽  
Customer Loyalty ◽  
Banking Industry ◽  
Relationship Management ◽  
Mediating Effect ◽  
Customer Relationship ◽  
Continuance Commitment ◽  
Retail Banks ◽  
The Relationship

This study explores the moderating effect of technology acceptance on the relationship between customer relationship management (CRM) in terms of distribution and tailor-made functions and customer loyalty in the banking industry. The author uses LISREL two-group path analysis to find the variances between high and low technology acceptance. Data collected from the customers of nine retail banks show that commitments have a mediating effect on the relationship between the tailor-made function of CRM and customer loyalty, while technology acceptance has significant effects on both relationships between the two functions of CRM and continuance commitment.

Investigating the Impact of Customer Relationship Management Practices of E-Commerce on Online Customer's Web Site Satisfaction

2011 ◽  
pp. 1742-1759
Author(s):  
Su-Fang Lee ◽  
Wen-Jang ("Kenny") Jih ◽  
Shyh-Rong Fang
Keyword(s):  
Customer Relationship Management ◽  
User Satisfaction ◽  
Web Site ◽  
Management Practices ◽  
Customer Orientation ◽  
Relationship Management ◽  
Customer Relationship ◽  
Primary Data ◽  
Customer Information ◽  
The Web

This study addresses the effect of customer relationship management (CRM) practices on online customers’ satisfaction with their experience in interacting with the company Web sites. Recognizing the importance of maintaining a healthy relationship with customers, companies are actively seeking ways to enhance the customer value of their offerings through relationship marketing. Since effective managing of customer relationships essentially involves managing customer information flow, Internet technologies have become an important element of a firm’s CRM program. The company Web site is functioning as the focal point of contact for interacting with existing and prospective customers. An important concern is how the company Web site affects customers’ overall perception of the Web site. Using the concepts of Internet-mediated market orientation in marketing and user satisfaction in information systems, this study formulated and validated a theoretical model to analyze causal relationships between CRM practices, customers’ perception of a Web site’s online customer orientation and online customer Web site satisfaction. Based on the structural equation modeling analysis of the primary data collected in Taiwan, the study found that CRM practices positively impact online customers’ Web site satisfaction through their perception of the Web site’s customer orientation.

Investigating the Impact of Customer Relationship Management Practices of E-Commerce on Online Customer's Web Site Satisfaction

2011 ◽  
pp. 1778-1794
Author(s):  
Su-Fang Lee ◽  
Wen-Jang (Kenny) Jih ◽  
Shyh-Rong Fang
Keyword(s):  
Customer Relationship Management ◽  
User Satisfaction ◽  
Web Site ◽  
Management Practices ◽  
Customer Orientation ◽  
Relationship Management ◽  
Customer Relationship ◽  
Primary Data ◽  
Customer Information ◽  
The Web

This study addresses the effect of customer relationship management (CRM) practices on online customers’ satisfaction with their experience in interacting with the company Web sites. Recognizing the importance of maintaining a healthy relationship with customers, companies are actively seeking ways to enhance the customer value of their offerings through relationship marketing. Since effective managing of customer relationships essentially involves managing customer information flow, Internet technologies have become an important element of a firm’s CRM program. The company Web site is functioning as the focal point of contact for interacting with existing and prospective customers. An important concern is how the company Web site affects customers’ overall perception of the Web site. Using the concepts of Internet-mediated market orientation in marketing and user satisfaction in information systems, this study formulated and validated a theoretical model to analyze causal relationships between CRM practices, customers’ perception of a Web site’s online customer orientation and online customer Web site satisfaction. Based on the structural equation modeling analysis of the primary data collected in Taiwan, the study found that CRM practices positively impact online customers’ Web site satisfaction through their perception of the Web site’s customer orientation.

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