Importance Of Crm In Banking
Mrs.Sweta Leena Hota, Research Scholar Utkal University
Banking today has changed from pure banking to need based banking and focuses on customer satisfaction, as the success of every organisation depends upon satisfied customers. Customer acquisition has been overtaken by customer retention as customer satisfaction has become the key element for revenue generation for every bank. 21st century has brought about a revolution through innovation and completion has emerged as the mantra for success and Customer Relationship Management has become predestined for survival and growth of banks. CRM is gaining prominence with every kind of organisation and covers …show more content…
CRM is fundamental to building a customer-centric organization. CRM is a key element that allows a bank to develop its customer base and sales capacity.
In Peter F. Drucker 's words, the purpose of business is to create and keep a customer. Every businessman understands the truth of these words. Today, when businesses are scrambling to get customers, the importance of Customer Relationship Management (CRM) must not be ignored. That 's why analysts, vendors, and solution providers are positive about the growth of CRM in the country.
OBJECTIVE OF THE STUDY
1. To examine the need for CRM in Banking.
2. To evaluate the impact on customer base of Axis Bank, Chandrasekharpur Branch
To meet the objectives of the present study primary and secondary data were collected. Primary data has been collected through a well structured questionnaire. The main respondents targeted were customers of various branches of Axis Bank Bhubaneswar. Secondary data has been collected through different journals, magazines, websites, records of banks, various publications,