Paper Presentation on Role of analytical CRM in maximizing customer profitability

By:

Rajnaish Kumar

Maarid Fazili

20% of a Bank's Customer often account for 150% of its profits! - Sheshunoff What is CRM ? Customer Profileing Launching strategic market plans for individual target audeinces Giving the customer what he wants World revovls around the customer

Why implement CRM ?

Customer Satisfaction Loyal Customer Cut throat Compitition Gain new Cleints Constant Profiling helps in reducing NPA'S Profit Growth

How CRM works ?

Collection of DATA
profiling,life style , customer prefrence, migration tendency & personal habits, Atm habits,etc)

(trend in consumer behaviour, credit score,

Analysis

(microsoft dynamics, vendimo, etc - analysis softwares) Implimentation

(personalized services offered as per customer profile)

Currently operational CRM exists in every Bank!

Collected data is incomplete

(customer provides only summarized information while interacting with executives) Low customer transparency (bank's database based on limited information
about the customer. eg. residencial address, phone no, other documented data )

Resources being wasted can be better utilized

ANALYTICAL CRM

Analyzes
who wants what,

one-to-one
&

who deserve?

ANALYTICAL CRM

Automated Data Retreval & analysis

(eg.ATM's , Debit Transections , Record of individul customer activity) High customer transparency (customers transparency increases with every move!) Result: Individual Exposure (Special tools help device Personalized statistics
that help banks offer individual packages)

Customer behaviour Modeling

Purpose of Analytical CRM is to provide: -Realtime information about the customer -Buying patterns -Pre-sales behaviour -Predicting possible future behaviour -Post-sales behaviour -Tracking behaviour changes o Analytical CRM- 360 view of Customer

What is done with the information collected ?

Collects customer data from each branch with DYNAMICS. or ATM, Websites, Mobile Banking,etc.
OLAP processes all the data in some heads. EIS differentiate the data. Vendimo chooses the services which can be provided to that specific customer.

ICICI BANK

UTILIZES THREE ANALYTICA TOOLS DYNAMICS,VANDIMO & OLAPS OFFERS MORE PERSONALISED P&S CONCENTRATE ON ADVERTISEMENT BRANCH-WISE SERVICES WORKS ON DEMAND OF CUSTOMER

HDFC BANK

Utilizes all importent tools

Concentrates on services
Notifications via Media channels

E-CRM
Specific department

Feedbacks

Advt. & Market share Graph

Conclusion

Psychological view & Result:

According to human nature each, every person wants to be treated as special ,if they will get what they want individualy - net result is satisfaction both for the customer and the bank!

Cont

Result:

Maximizing the customer profitability

Thanks!