CRM
- Monday 8 to Tuesday 9 June 2009
- Conference
- Paris
- Language : English
All events
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CRM
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This programme is currently in planning. To receive the brochure as soon as it is available, please send us an email at programme@efma.com.
Know success by knowing your customer
Overview
As the financial sector becomes ever more competitive, banks that want to succeed must adopt a strong, customer-centric approach. There are three stages involved:
• Laying the foundation – Gaining an in-depth knowledge of the customer and their needs (Customer Intelligence) and then using this information effectively (Customer Relationship Management or CRM).
• Developing a culture – Now that there is a common definition of CRM, the challenge for banks is to develop a culture of CRM throughout every level of their organisation.
• Refining the relationship – They can then start to explore ways of improving the customer relationship: by understanding clients better, by analysing customer information and by developing more suitable proposals.
Ultimately, the effective use of Customer Intelligence and CRM should lead to higher incomes per customer and greater profitability.
Key issues
The key issues facing the sector therefore include:
• Culture – CRM must have management support and employee involvement (not just software). Developing the right mind set requires training and motivation.
• Analytics – Banks need to collect high quality customer data (not only from their own activities, but also from other sources) and then analyse it to define targets, customer habits etc.
• Operation – The data can be used for planning campaigns; contacting the customer proactively; and identifying the most effective distribution channels. Banks need to measure the results and any impact on customer loyalty.
