A Study on Implementation of Customers Experience Management (CEM) in Banking Sector FOR Enhancement of Banking Performance with reference to Puducherry Region Sivakumar R.*, Dr. Vetrivel S. C.** *Assistant Professor, School of Management Studies, Surya Group of Institutions, Vikiravandi, Villupuram, Tamilnadu, India **Assistant Professor, School of Management Studies, Kongu Engineering College, Perundurai, Erode, Tamilnadu, India Online published on 14 October, 2016. Abstract All successful business groups are building strong relationships with their Customers. Customer experience is the summing up of all experiences, the customer trials with the business, based on all touch points and opinion about the business concern. Those experiences are enhancing with development of new products and services of the company. Customer experience allows a company to tap into a unique set of reducing unwanted cost and increasing revenue that can deliver more profitability in all aspects of strategic and tactical level. While considering Banking Industry, it is almost experience based. Here the customers are having strong relationship with concern for the longer period of time. It is not only important to build a customer relationship by providing the exact product and service but also provide a superior customer experience throughout the customer life cycle lead. It is again characterized by a longer life cycle of customer loyalty. As a result, the banking Industry has always presented main focus is to fulfilling the required customer's needs and wants with maximum quality can be succeed. As a researcher, it is proposed to strongly focus on Customer Experience in frequently accessing banking Services, on both strategic and tactical level. First, this research would focus on the Strategic Level to develop a customer based strategy by understanding key success drivers of customer satisfaction and loyalty, it would make the banking Service providers to improve their overall business performance and achieve long-term customer retention by understanding the experience of their customers. Changing business processes to equivalent the overall customer experience which helps to make more profitable and sustainable in market. Second, it would be focused on tactical level, to find the various resources to getting back quick feedback from customers’ connections with various touch points in addition to enabling a quick response from dissatisfied customers due to faulty service. The main purpose of this study is identifying and prioritizing main success factors from perspective of bank's employees and customers. For this study, the information was collected from the 325 customers and 200 bank employees of various private and public bank in Puducherry and the collected data was analysed with the help of statistical tools like Descriptive analysis, Reliability Analysis, t-test for Independent Sample, One way ANOVA and chi-square test. Major hypothesis of this study is significant differences in extent of CEM Implementation between public sector and private sector banks as perceived by customers is framed and also tested with statistical tools. Being an emerging concept, this research would open up new avenues in the service sector. Top Keywords Customer Experience Management (CEM), Success Factors, Private Bank, Public Bank, Customer Touch Point, knowledge Management, Customer Satisfaction, Customer Loyalty. Top |