Customer benefit in banking sector – a relation management model Ranganath N. Santosh, Faculty Member, Dr. Rao G. Tulasi, Professor & Head Department of Commerce and Management Studies, Dr. B.R. Ambedkar University, Srikakulam, Andhra Pradesh – 532410. Online published on 1 November, 2011. Abstract Today, financial institutions can no longer rely on these committed relationships or established marketing techniques to attract and retain customers. As markets break down into heterogeneous segments, a more precisely targeted marketing technique is required, which creates a dialogue with smaller groups of customers and identifies individual needs. Nowadays, many businesses such as banks, insurance companies, and other service providers realize the importance of Customer Relationship Management (CRM) and its potential to help them acquire new customers retain existing ones and maximize their lifetime value. At this point, close relationship with customers will require a strong coordination between IT and marketing departments to provide a long-term retention of selected customers. This paper deals with the role of Customer Relationship Management in banking sector and the need for Customer Relationship Management to increase customer value by using some analytical methods in CRM applications. Everyone is talking about CRM or customer relationship management today. This paper deals with the using of Relation Management Model in Customer Benefit in banking Sector. And paper totally based on the secondary data which is collected from various sources available. And while CRM is being adapted, embraced and implemented by Banking organizations, the sobering realization is that many organizations don't have a comprehensive annual marketing plan to use with CRM Top Keywords eCRM, Crisis Management, Risk Management, Retail Banking, Data Warehouse. Top |