CRM
Quote of the month
“In many cases, financial institutions are not in a position to provide a real assessment of the ROI or value derived from their marketing. Often they have to rely upon vendors to provide details of success stories to support their business plans. All vendors provide details of why their particular approach is best, but there is no independent assessment of different strategies, approaches and technologies or a set of metrics that can inform a financial institution of what they can expect by adopting a particular CRM direction.”
Mark Holtom, Director and CEO at Eventricity, United Kingdom
Overall issues
- 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.
Efma study
“From proximity to intimacy – A panorama of CRM in retail financial services”
sponsored by Atos Consulting (October 2008)
Lessons from the most recent conference
“Customer intelligence and CRM”, Athens, 4-5 November 2008 (www.efma.com/crm2008)
Best speaker:
Juan Manuel Zanon Perez, Head of CRM – Bankinter, Spain
Best presentations:
- "The activation of dormant clients – a neglected but highly interesting source of profit”
Andreas Stoffers, Project leader at Deutsche Bank, Germany
- "Using analytics to develop the mass affluent business"
João Manaças, Director adjunto at Banco Espirito Santo, Portugal
- "Differentiation and enhanced competitiveness by targeted usage of analytics: What matters most?"
Daniel Rüegge, Executive director, client analytics at UBS, Switzerland
