Components Of Customer Relationship Management Research Articles

Enhancing Customer Engagement in the Digital Era: Innovative Approaches for CRM Implementation in the Indian Banking Sector

Economic progress relies on the banking sector, which provides vital services globally. This study uses financial inclusion to assess the banking sector’s rising participation in rural India. Even if financial services have moved to remote places, the necessity to build and sustain good customer relationships remains. CRM is essential to these collaborations. This research explores industry-proposed customer relationship management (CRM) frameworks, focusing customer involvement, data management, and CRM implementation. The study examines how CRM affects customer satisfaction, loyalty, and operational efficiency, citing Payne (2005), Thejaswarup (2017), Tangaza (2017), Eid (2007), and Sharma &Goyal (2016). The objectives are to analyse CRM components and propose a comprehensive banking industry framework. Literature reviews, articles, and expert comments are used for data collection. CRM’s customer data management, engagement strategies, sales and marketing automation, customer service, analytics, workflow automation, segmentation, mobile CRM, system integration, and feedback mechanisms are reviewed. Customer Relationship Management (CRM) is crucial to banking success, according to the survey. This article covers important CRM frameworks that combine multi-author viewpoints for clarity. The conclusion proposes a groundbreaking banking-specific CRM paradigm. Focusing on socio-economic challenges, technological flexibility, staff training, customer data collecting, analysis, timely integration, and evaluation, this framework aims to meet evolving consumer and banking sector expectations.

The nexus between CRM and competitive advantage: the mediating role of customer loyalty

PurposeThe purpose of this study is to examine the impact of customer relationship management (CRM) components on competitive advantage through customer loyalty in the banking sector of Bangladesh.Design/methodology/approachA structured questionnaire was used for the data collection process. In all, 326 respondents were participated in the survey and selected conveniently from the commercial banks of Bangladesh. Data were analyzed by using Smart-PLS software.FindingsThe outcomes of this study indicate that customer orientation and technology capability have a positive impact on competitive advantage, while customer knowledge does not. Besides, customer loyalty significantly mediates the relationship between customer orientation and technology capability with competitive advantage, while this mediation effect appears insignificant between customer knowledge and competitive advantage.Practical implicationsThis study's findings can help Bangladeshi bank managers communicate with new customers about their promotional activities while keeping old customers informed about new CRM initiatives.Originality/valueThis study adds to the existing pool of knowledge on CRM components, customer loyalty and competitive advantage literature. Particularly, the mediating role of customer loyalty between the CRM components (customer orientation and technology capability) and competitive advantage is the unique contribution of this research.

Mediating mechanism of customer satisfaction on customer relationship management implementation and customer loyalty among consolidated banks

The aim of this study is to investigate the mediating mechanism of customer satisfaction (CS) on customer relationship management (CRM) and customer loyalty (CL) among Nigerian consolidated banks. This paper used a survey research design, and the study unit of analysis consists of selected customers among Nigerian consolidated banks. This study used a purposive sampling technique whereby structured questionnaires were used to collect data from 750 customers of the 5 focused banks in Kano State, Nigeria. Partial least square–structural equation modelling (PLS-SEM) was used to evaluate the study hypotheses. The outcome of the study revealed that CRM has a significant effect on CL while CS partially mediates CRM and CL relationship. This paper provides substantial results to practitioners to realize the role of developing a CRM strategy in the Nigerian banking industry. In line with that, the management of the banks should build sound CRM components such as process fit, customer information quality and information system support to deliver sound services in order to operate and compete in the banking ecosystem effectively. This paper has made a substantial contribution to the body of knowledge in the CS, CL, and CRM literature by operationalizing it within the Nigerian banking industry.

The relationship between CRM and customer loyalty: the moderating role of customer trust

PurposeThe present study investigates the moderating role of customer trust in customer relationship management (CRM) components and customer loyalty relationships in the context of the baking sector in Bangladesh.Design/methodology/approachData were collected through a survey using a structured questionnaire from 350 customers of commercial banks in Bangladesh.FindingsThe key finding is that all CRM components (customer orientation, customer advocacy and customer knowledge) except customer engagement have positive impact on customer loyalty. Moreover, customer trust only moderates the relationship between customer knowledge and customer loyalty, whereas other CRM components and customer loyalty do not moderate by trust.Originality/valueThe findings of the study add to the substantial pool of knowledge on CRM components, customer trust and customer loyalty literature. More specifically, the moderating role of customer trust between customer knowledge and customer loyalty is the novel contribution of this research which will enrich the existing CRM literature particularly in the banking sector of Bangladesh.

The impact of analytical CRM on strategic CRM, operational CRM and customer satisfaction: Empirical study on commercial banks

The aim of this study is to identify the effect of the analytical customer relationship management (CRM) on strategic CRM, operational CRM and customer satisfaction. Data collected from a sample consisted of 150 managers of managers in commercial banks using a questionnaire. The results accepted the hypotheses that analytical CRM is positively related to both strategic CRM and operational CRM, which in turn show significant effects on customer satisfaction. Analytical CRM had no significant direct effect on customer satisfaction, but through strategic CRM and operational CRM. Such results indicated that strategic CRM and operational CRM had a full mediation role between the analytical CRM and customer satisfaction. It was concluded based on these results that CRM components, i.e., analytical, strategic and operational CRM are all critical in ensuring customer satisfaction. Therefore, banks should consider all these components in designing their CRM programs.

Customer relationship management and patient satisfaction and loyalty in selected hospitals in Ghana

Purpose This paper aims to examine the effect of customer relationship management (CRM) on patient satisfaction and patient loyalty, controlling for other socio-demographic characteristics. Design/methodology/approach The study used a two-stage sampling process and structured questionnaires to collect data from 788 patients from three health facilities (public, quasi-public and private) in Greater Accra, Ghana. The data collected was analyzed using descriptive statistics and regression via the partial least squares-based structural equation model. Findings The results suggest that CRM is significantly positively correlated with patient satisfaction and patient loyalty, with patient satisfaction also significantly correlated with patient loyalty. Additionally, the results suggest that the introduction of education, health facility ownership, health insurance status and gender, neither impact significantly on the relationship between CRM and patient satisfaction/patient loyalty nor influenced patient satisfaction and patient loyalty directly. Research limitations/implications The findings of the current paper can have substantial practice implications for operators in the health-care industry in Ghana. CRM components such as service quality, customer service, communication and the use of appropriate technology to deliver service will be fundamental if organizations operating in the health-care ecosystem in Ghana are to be able to compete effectively. Originality/value This is one of the very few papers on the relationship between CRM and patient satisfaction and patient loyalty in African health-care literature. Thus, the findings of the paper can constitute a great resource not only to academics but also to practitioners who are looking to be competitive in the health-care market.

How CRM Components Impact Customer Loyalty: A Case from Bangladesh Banking Industry

The purpose of this study is to determine the impact of customer relationship management (CRM) components on customer loyalty of a firm. The three components of CRM in this study are customer knowledge, customer orientation, and technology capability. A structured questionnaire with a 5-point Likert scale was used to gather the data by conducting a survey. The sample size is 200 and chosen on a convenient basis. Indicators were generated based on the literature review. Data were analyzed by using PLS 3.0 software. The key finding is that customer loyalty is negatively impacted by the CRM component, customer knowledge. On the other hand, the impacts of customer orientation and technology capability on customer loyalty have been found to be significant and profound. This study adds to the existing pool of knowledge on CRM components and customer loyalty from the perspective of the Bangladesh banking sector. The findings may facilitate bank officials and can be used as a strategic instrument for cultivating customer loyalty in the Bangladesh context.

The Impact of User-Generated Content and Traditional Media on Customer Acquisition and Retention

Customer acquisition and retention are central components of customer relationship management (CRM) and the key drivers of a firm’s long-term profit. However, our understanding of the relative impact of user-generated content (UGC) and traditional media and their synergies on customer acquisition and retention is still underdeveloped. Thus, the purpose of this research is to address two key questions: What is the effect of UGC relative to that of traditional media on customer acquisition and retention? Is there any interaction effect between UGC and traditional media on both customer acquisition and retention? To understand the differential impacts of these media, we develop a conceptual framework and propose several hypotheses. We test our hypotheses using data from the automobile and mobile game industries. Our findings indicate that UGC is much more effective in acquiring customers, while traditional media is more important for customer retention. Moreover, the volume of UGC and traditional media have a synergistic effect on customer retention. This research therefore contributes to the acquisition-retention literature while also providing important insights to managers.

PENGARUH CUSTOMER RELATIONSHIP MANAGEMENT TERHADAP LOYALITAS PELANGGAN PADA PT TIGA SERANGKAI SURAKARTA

<p><em>This research aims to determine the effect of the components of Customer Relationship Management (CRM) which consists of people, process, and technology on customer loyalty at PT Tiga Serangkai Pustaka Mandiri General Book (GB) Division Central Java-DIY Branch. Data collection methods in this research by interview, observation, and questionnaires to 51 respondents using purposive sampling technique. Methods of data analysis used are validity test, reliability test, classic assumption test, multiple linear regression test, t test, F test, and coefficient of determination. The results of this research shows that the variables of people, process, and technology have positive and significant effect both simultaneously or partially on the customer loyalty variable model of multiple linear regression analysis results as follows Customer Loyalty = 3,781 + 0,289 People + 0,320 Process + 0,247 Technology. The results of the analysis obtained Adjusted R<sup>2</sup> value of 0.685, this shows that the contribution of independent variables in influencing the dependent variable is 68.5% and the remainder is influenced by other variables not examined in this research.</em></p>

Customer Relationship Management: A Review and Classification

This research identifies the effective components that influence the evolution of the concepts of customer relationship management (CRM) research strategies and to present the academic literature review and classifications of CRM. It provides an overview of CRM research and identifies the gaps in the previous CRM literature review. To achieve this, our research is based on the period from 2006 to 2010. Data is collected from 618 research papers on CRM for the 2006-2010 period as sourced from top online databases. The data are then analysed by capturing the keywords of articles to determine the different perspectives to the study of CRM. The components of CRM are then classified. The emerging schema is then used to review the literature. The results show the current state of the art in that period (2006-2010) for CRM research, the comprehension of CRM components, their categories and techniques.

An Implementation of Customer Relationship Management and Customer satisfaction in Banking Sector of Quetta, Balochistan

Banking industry in Pakistan has become highly competitive, bankers are putting enhanced efforts to acquire and retain customers by incorporating innovative customer relationship management (CRM) techniques. Due to rapid technology penetration, customers have rapid entrance and options to multiple financial products/services. Present study focuses on measuring customer satisfaction in the result of Bank’s CRM efforts. Research is based on the fact and evolve the theme of the study, that is to find the significant factors affect customer satisfaction, that is a center of customer relationship management (CRM) for controlling the excessive competition in Quetta banking industry. Two structured questionnaires are used based on quantitative view and hand out on a stratified sample. First questionnaire is having a data of 31 employees in the sampled banks to measure the CRM suitability while second one is having a data of 302 customers from the sampled banks to count the level of customer satisfaction. The findings show that the selected banks apply the CRM components and found that these are positively associated with customer satisfaction. Respecting the results of the bank survey, the level of CRM implementation and the relevance of its elements be unlikely from one to another bank. Findings confirm that in Quetta banking sector there is a tough competition going on as every bank (public, private) is trying its best to capture more and more customers. Banks have to bring change in their strategies to build and strengthen relationship with their customers because it is one of the major competitive advantages.

The impact of CRM components system on customer retention in the telecom industry: a case of Y-Telecom in Yemen

This paper aims to identify customer relationship management components (call centre, service centre, and data mining) and their role in influencing customer retention through customer satisfaction in telecom industry. The study used a descriptive analytical method to answer the questions of the study. A questionnaire was used as a tool for data collection. The sample consists of 317 Y-Telecoms' subscribers. The study showed that there is an effect of CRM system components in achieving customer retention. Data mining is deemed the highest component of the technological elements in CRM, which contributed in achieving customer retention. However, the call centre is the lowest component, which requires more work and development. Customer satisfaction - the intervening variable - showed no correlation with customer retention. The study recommends the call centre staff to improve their communication skills and focusing on data mining process to make better services for clients and employ them in marketing to target customers individually.

The Impact of CRM Strategy on Customer Loyalty in SMEs

The beauty service industry is one of the most flourishing industries in contemporary Beirut, the capital of Lebanon, as versatile demands from men and women have catered to this uplifting growth. A national scandal, however, lead to the suspension of several beauty centers, and conveyed a challenge for competitive small-medium enterprises (SME) to sustain relationships with customers over the long-run. The aim of this study was to understand the impact of customer relationship management (CRM) strategy on customer loyalty using the case of beauty centers in Beirut, Lebanon. The study employed a quantitative approach where data was collected by means of a questionnaire, from a sample of 103 customers. Four variables, as components of CRM, were measured in this study. Results of the statistical analysis verified that customer experience, employee behaviour, and value proposition have a positive impact on customer loyalty. This research provides recommendations for strategically improving relationship-oriented practices in Lebanese SMEs, particularly in the beauty sector.

Customer Relationship Management and Micro, Small and Medium Enterprises (MSMEs) Growth in South West, Nigeria

This study examines the basic components of Customer Relationship Management and its influence on the growth of Micro, Small and Medium Enterprises (SMEs) in South-West Nigeria. The data obtained were analysed using appropriate descriptive and inferential statistics. The results of the study show a statistically significant relationship between customer care strategies and customer retention, public image maintenance and customer care (r = 0.430, p < 0.05), (r = -0.438, p < 0.05) respectively. The analysis also revealed a significant relationship between human resource factor and business revenue, product development as well as product market development (r = 0.209, p < 0.05), (r = 0.259, p < 0.05), (r = 0.472, p < 0.05) respectively. The analysis further showed a statistically significant relationship between analytics and business revenue, product development, and customer retention (r = 0.416, p < 0.05); (r = 0.313, p < 0.05), and (r=0.291) p=0.003) respectively. It was also found out that there was a statistically significant relationship between business reporting and employee satisfaction, customer retention, product market development and business revenue. There was also a significant relationship between marketing and business revenue (r = 0.214, p< 0.05). The study concludes that the components of Customer Relationship Management examined as an omnibus concept had influence on the growth of MSMEs in the study area (R square =0.375, Adjusted R square = 0.334, p<0.001).

An overview of Customer Relationship Management Software in Business Organizations

<p>The aim of the article is to present details of the research on focus on the customer in relation to the utilization of the customer relationship management computerized system in business organization. Customer relationship management (CRM) plays a central role in the growth and success of corporations in an environment of fast technological development and the extensive competition currently in evidence. CRM empowers corporations with better customer awareness and helps to construct sustainable relationships with customers. People, technology, and processes are the three basic components of CRM. In order to ensure the successful implementation and adoption of the CRM<br />initiative, this paper presents a detailed review of the literature relating to CRM processes and its computerized system. Various types and levels of the CRM process as well as an understanding of the different perspectives of CRM are presented in this review. The paper suggests that it is important for an organization to understand the four major perspectives of CRM processes i.e. customer facing level processes, customer oriented processes, cross functional CRM processes and CRM macro-level processes. A survey is also conducted in this paper and a chi square test is performed to test the hypothesis relating<br />to the efficiency of customer relationship management and the client relationship it offers. Results show that the hypothesis is statistically significant.</p>

Customer relationship management: Innovation and performance

The aim of this study is to empirically test a framework which identifies the relationships between customer relationship management (CRM) practices, organizational performance and innovation capability of Iranian manufacturing firms.,Data for the study were collected from a sample of 211 Iranian manufacturing firms. The research model was tested using structural equation modeling.,The results reveal that CRM practices have a positive and significant, though weak, effect on organizational performance and innovation capability of Iranian manufacturing organizations. Innovation improvement caused by CRM also results in better organizational performance.,Because this study is conducted in Iranian manufacturing organizations, it implies that the generalizability of this study’s findings is limited to the manufacturing firms in Iran and cannot be applied to other markets without a further validation.,This empirical research has extended our understanding of CRM components and their impact on business performance and innovation capability of Iranian manufacturing firms which have not been addressed together in previous empirical studies in Iran. Also, the obtained findings offer the Iranian manufacturing executives and managers strategic insights in relation to CRM implementation, CRM items and, more importantly, the most influential components of CRM on the manufacturing organizations’ performance and innovation.,This paper shows the importance of CRM practices and how they directly influence organizational and innovation capabilities of the Iranian firms. This study is among the few studies which attempt to empirically investigate the relationships between these variables particularly in the context of Iran.

Customer relationship management research in tourism and hospitality: a state-of-the-art

PurposeThis study aimed to provide a critical review of the evolution of customer relationship management (CRM) research in the hospitality and tourism (H&T) field.Design/methodology/approachThe study conducted a thorough systematical literature review by collecting papers from 14 leading tourism and hospitality journals. The examination of the literature is first based on the evolution of CRM notion and its definitions. Next, CRM studies in the literature that are related to H&T were assessed based on their timelines and themes. Third, the studies were classified based on CRM components and its impacts on firms’ performances.FindingsThe literature review provided an in-depth understanding on the progress of CRM based on the selected topics and suggests a redesigned research agenda for scholars, graduate students and practitioners.ImplicationsThis study provides new and meaningful avenues for further research in CRM in H&T area.Originality valueCRM has a key role in business performance and increased customer satisfaction and retention, specifically in the context of the service industry. To date, scholars have produced an abundant number of CRM-related studies in tourism and hospitality journals. In this study, the progress of CRM research conducted in the tourism and hospitality sector is critically reviewed.

Customer relationship management (people, process and technology) and organisational culture in hotels

PurposeThe purpose of this study is to examine the impact of four organisational cultural traits of adaptability, consistency, involvement and mission on the three components of customer relationship management (CRM), namely, people, process and technology, in the context of the hotel industry.Design/methodology/approachRequired data are collected with a quantitative approach and a questionnaire adapted from the Denison organisational culture survey and the Mendoza CRM model. The questionnaire was distributed among 364 managers of a chain hotel in the UK and gathered data were examined using the structural equation modelling method.FindingsThe results of this study reveal that the four traits of organisational culture (adaptability, consistency, involvement and mission) have positive and significant impacts on the three components of CRM (people, process and technology). A set of theoretical contributions and practical implications was also discussed.Research limitations/implicationsThe study is conducted with a case study approach; hence, the findings cannot be generalised to a larger population, and the results might be different for other industries. Because of the limitation of access to all employees, only managers were selected as the sample, and future studies with all employees may show different results.Practical implicationsCurrent study helps hotel managers to understand the role and importance of organisational cultural traits in successful implementation of their CRM strategy components.Originality/valueThe position taken in this study recognises the need to enhance the understanding of organisational culture’s impact on implementing CRM components. Organisational cultural traits have different levels of impact on CRM implementation, and this is the first study to investigate the detailed impacts of the four traits of adaptability, consistency, involvement and mission on the three components of CRM, namely, people, process and technology.

Identifying and analysing components of customer relationship management influencing customer-oriented behaviour of employees: the case of Bank Mellat branches of Khouzestan Province

The aim of this study is to identify and analyse components of customer relationship management influencing customer-oriented behaviour of employees. This study has been conducted on two active elite communities in the banking system, i.e. managers and employees of Bank of Mellat in Khouzestan province of Iran. First, by using a local questionnaire and Delphi technique, ten experts selected by snowball method have been interviewed and the forming elements of the customer-oriented behaviours of employees and the components of customer relationship management have been determined. Then, a questionnaire has been developed including 36 questions and the data has been collected from a sample of 246 customers by which, the role of each component has been determined and the customer-oriented behaviours of employees have been analysed. Findings indicate that among the six components of identified customer relations, the quality of provided services, creating special approaching solutions for the customers and holding strong social networks with the customers had the strongest roles in customer satisfaction.

Identifying and analysing components of customer relationship management influencing customer-oriented behaviour of employees: the case of Bank Mellat branches of Khouzestan Province

Identifying and analysing components of customer relationship management influencing customer-oriented behaviour of employees: the case of Bank Mellat branches of Khouzestan Province