Customer Relationship Management Tools Research Articles

A Study on Customer Relationship Management in Banking Sector

ABSTRACT Customer Relationship Management (CRM) plays a pivotal role in the Indian banking sector, offering a strategic approach to managing relationships with customers and enhancing their experience. This paper examines the impact of CRM on the banking industry in India, exploring how it can improve customer satisfaction, loyalty, and overall business performance. The study reviews existing literature and analyzes various aspects of CRM adoption in Indian banks, including challenges such as training, technology adoption, and changing customer expectations. The findings indicate that CRM strategies can significantly enhance the quality of customer service and strengthen customer relationships, leading to higher retention rates and a competitive edge in the market. Despite the challenges in implementing CRM, such as technological constraints and a lack of skilled personnel, the benefits far outweigh the obstacles. Through the effective use of CRM tools and techniques, Indian banks can foster stronger connections with customers, tailor services to individual needs, and ultimately drive growth and profitability. This paper concludes that the adoption of CRM in the Indian banking sector is essential for banks to thrive in a rapidly evolving market. By embracing CRM practices, banks can achieve higher levels of customer satisfaction and loyalty, which are crucial for long-term success in the industry.

INFLUENCE OF THE CHARACTERISTICS OF SMALL AND MEDIUM FAMILY BUSINESSES ON CRM IMPLEMENTATION: A CASE STUDY

Purpose: This paper aims to explore the customer relationship management (CRM) strategies adopted by Family Small and Medium Entreprises (SME), while highlighting the impact of their characteristics and their assets on the choice and the adoption of these CRM strategies. Methodology: Since the unique case study approach allows in-depth, multi-faceted explorations of complex issues, we opted for it as a research strategy in order to develop a detailed understanding of the problem. Therefore, an in-depth case study was carried out within a small and medium family business in Morocco. Findings: Through this study, we have highlighted causal links between the characteristics and specificities of the family SMEs and their impacts on the adoption and implementation of CRM tools and strategies. While some characteristics linked to the nature of family SMEs such as participatory management style, familiness, the desire to transmit the business to future generations and proximity to customers constitute assets for the implementation of CRM, other characteristics, such as the desire to maintain financial independence and recruitment policies that are most often in favor of family members despite their competence, can negatively influence the implementation of successful CRM projects. Implications for Theory and Practice: The results of the present paper allow the authors to draw conclusions that are relevant to both academics and practitioners. As for the theoretical implications, this study highlights the relationship between the characteristics of family SMEs and the choice and implementation of CRM strategies, while relying on their strengths. Furthermore, developing a good understanding of the specificity of CRM adoption and implementation approaches within family SMEs has important managerial implications for family SME decision-makers, as it can help them make better decisions regarding the choice of relevant CRM strategies and to optimize the deployment of available human, financial and technological resources, while relying on their socio-emotional wealth and their motivation to perpetuate the company. Originality: This paper is one of the first to explore CRM strategies adopted by family SMEs. The authors present a conceptual framework that can help researchers and practitioners better understand how the family business nature can influence decisions about CRM tools and strategies implementation.

The Instagram as a Tool for Implementation of Social Crm (Customer Relationship Management) Study on Tourism in Lamongan Regency (Wisata Bahari Lamongan and Maharani Zoo)

Advances in technology and communication today have an impact on changes in the Industrial Revolution, including the Tourism Industry. The use of computers and the Internet of Things (IoT) in the tourism industry currently has an important role, which can include many ways, one of which is contact with customers. Customer Relationship Management (CRM) is a business strategy that integrates business processes that are directly related to consumers (marketing, sales, and services) with business people, business processes, and supporting technology to get customer retention [7]. Instagram is one of the social media that has a wide reach and can be accessed easily by anyone. In addition, Instagram is also available on mobile devices and makes Instagram one of the social media that has many users. The Lamongan Tourism and Culture Office has the responsibility to introduce tourist attractions in Lamongan. Lamongan Regency has two tourist icons that are well known by the public, both the Lamongan community itself and people from outside the Lamongan area, namely Lamongan Marine Tourism and Maharani Zoo. Instagram can be used as a Social CRM tool so that it has an impact on increasing tourist visits to Wisata Bahari Lamongan and Maharani Zoo.

A multiple-case study on the adoption of customer relationship management and big data analytics in the automotive industry

PurposeThis paper aims at understanding how automotive firms integrate customer relationship management (CRM) tools and big data analytics (BDA) into their marketing strategies to enhance total quality management (TQM) after the coronavirus disease (COVID-19).Design/methodology/approachA qualitative methodology based on a multiple-case study was adopted, involving the collection of 18 interviews with eight leading automotive firms and other companies responsible for their marketing and CRM activities.FindingsResults highlight that, through the adoption of CRM technology, automotive firms have developed best practices that positively impact business performance and TQM, thereby strengthening their digital culture. The challenges in the implementation of CRM and BDA are also discussed.Research limitations/implicationsThe study suffers from limitations related to the findings' generalizability due to the restricted number of firms operating in a single industry involved in the sample.Practical implicationsFindings suggest new relational approaches and opportunities for automotive companies deriving from the use of CRM and BDA under an overall customer-oriented approach.Originality/valueThis research analyzes how CRM and BDA improve the marketing and TQM processes in the automotive industry, which is undergoing deep transformation in the current context of digital transformation.

Informal experimentation, centralization, or distribution? Assessing technological, organizational and contextual factors for social media institutionalization processes in Dutch municipalities

Given the various benefits of social media for governments, municipalities are increasingly attempting to institutionalize their use of social media. This article looks at the use of middleware that is observed on municipal Twitter accounts in Dutch municipalities in 2018 and 2021 (N= 724), which provide a set of APIs that specify input and output modalities. It is observed that the use of subscription-based customer relationship management (CRM) tools, developed mostly in a corporate context, has grown considerably, with an uptake of 89.0% of Dutch municipalities in 2021, whereas the use of free CRM tools appears to be declining. Middleware were studied and linked to three models of social media institutionalization (informal experimentation, centralization, and distribution). Municipalities in the informal experimentation model were observed to have smaller population sizes and generally had fewer IT professionals in their constituencies. Larger municipalities with more IT professionals were mostly observed to have a centralized model of institutionalization. Although municipalities with a distributed institutionalization model were larger, they were generally less urbanized. Finally, more technologically advanced municipalities were only observed to make more use of the distributed model.

Implementation strategies of a crm system from an endomarketing perspective to foster positive organizational behavior

A company with a strategic vision oriented towards business relationships seeks to adopt tools that help it achieve this goal. One of these tools could be Customer Relationship Management (CRM), which places the employee at the center of the organization, thus improving employee satisfaction and engagement. This, in turn, leads to optimized profitability and increased productivity in any type of business. Despite the existence of previous research on this topic, it is still necessary to deepen the analysis of the implications of the implementation of CRM tools.

Implementation and Evaluation of a Selected CRM Tool for the Stakeholder Relationship Management in an Innovative Project

Abstract The article presents the framework for the implementation process of HubSpot customer relationship management (CRM) software in a selected innovation project conducted by a student-run non-profit organisation, as the basis for the project's stakeholder relationship management. The purpose of the article is to assess the impact of the implemented software on the project's stakeholder relationship management, with a particular focus on communication with internal and external stakeholders. The motivation for introducing the concept of stakeholder relationship management in the studied organisation included the growing number of students involved in the project, increasing financial needs and, consequently, a growing group of stakeholders supporting the innovative project. This led to the need for the project's stakeholder relationship management concept and greater operationalisation of the student organisation's activities. HubSpot CRM software was chosen for its functionality and accessibility for non-profit organisations. This article presents a case study of the Innovative Student Project and the results of a survey of project members to assess internal communication and information flow between project members and key stakeholders after implementation of the CRM system. It was assumed that the evaluation of communication from the perspective of project members would be an appropriate measure of the benefits of the implemented solution as it is difficult to assess other dimensions of stakeholder cooperation at the initial stage. The main perceived benefits were the professionalization of team activities and uniformity of management practices across the project, clear categorisation of stakeholders, improved information flow within the project, and communication with sponsors. It was also shown that student organisations can introduce solutions dedicated to enterprises and implement the concept of stakeholder relationship management to increase the effectiveness of support acquisition and develop innovative projects.

Customer relationship management systems for customer retention in a life insurance organisation in South Africa

By examining the role and value of customer retention (CR) in the life insurance sector of the South African insurance industry, this paper seeks to uncover the level of clientele receptiveness and willingness to adopt Information Technology (IT)-based Customer Relationship Management (CRM). Arguably, there are changing client needs, and market erosion requires innovative processes and particularly a readiness to accommodate the swift changes in technology. This volatile environment has, over the past decade, created increased competition and uncertain economic futures, which has placed life insurers under pressure and facing a steady increase in policy lapses. The primary objective of this paper is to investigate the role and value of IT-based CRM potential on customer retention in the life insurance industry in South Africa. It is argued, that with technological advances, increased competition, tough economic conditions, and clients becoming more financially conscious, insurers need to seek further and newer methods to retain their clientele.
 The study applied a quantitative research methodology by administering existing structured questionnaires to 100 clients at a Walk-in-Centre of a major life insurance company in South Africa to examine the causal link between IT-based CRM and customer retention. The survey concluded that probing unchartered terrain is required in fluctuating times for insurers to be competitive. The implication of the findings is that the speed, at which technology is evolving, is compelling insurers to evaluate new and alternative means of managing client relationships, as clients now drive the economy, not businesses. The very essence of a good CRM programme is its reliance on an IT system innovation, which is advanced enough to analyse the captured client data, transform that data into usable knowledge, which is then used to drive client retention. Explain who will be interested in the findings and why they should care about them. This paper contributes to the understanding, and implementation, of a successful IT-based CRM tool within the life insurance industry

Total Quality Management Practice on the Performance of Commercial Banks: Case of Sidian Bank Kenya Limited

In an effort to boost performance, Sidian Bank Kenya has been implementing quality management practices. However, the bank has faced difficulties as a result of demotivated employees and employees leaving the company in search of better opportunities. The bank hasn't even met the goals it set for itself, despite putting these total quality management measures into place. As a result, the study mostly looked into how Sidian Bank's performance in Nairobi City County, Kenya, is influenced by total quality management practices. A descriptive research design was used in the study. The Kenyan Sidian Bank was the focus of this study, and 66 managers and support staff were among the respondents. There were 66 respondents to the census. The questionnaires that were given to all of the respondents were used to collect the primary data. Despite not being a part of the final study, the pilot study included 10 bank employees who provided responses to the survey. The quantitative data shown in tables and figures was examined using descriptive statistics such as mean and standard deviation. Multiple regression analysis was used to establish the link between the variables. According to the study, continuous improvement, staff empowerment, top management commitment, and customer orientation all had a substantial impact on Sidian Bank performance. The study came to the conclusion that the goal of continuous improvement is to give employees the tools they need to deal with problems and gradually improve their work processes' effectiveness. Employee motivation has been shown to rise in direct correlation with employee empowerment through increased autonomy. Through its leadership and commitment to the overall quality management goal of customer satisfaction, top management fosters an organizational culture that places a priority on total quality and customer happiness, which in turn increases employee empowerment and job satisfaction. By implementing the appropriate management framework and customer-focused institutions to enhance business performance, customer orientation enables the bank to forge close relationships with its customers and generate revenue. The study suggested that the Bank set attainable objectives for the successful implementation of continuous improvement in order to reduce stress and maintain employee engagement on the successful path. By regularly soliciting and acting on feedback from employees, the bank should give them a voice and give them opportunities to advance through more autonomy, more responsibilities, or even a completely new position. In order to set an example and provide individuals with high-quality processes that they can use, the bank needs the commitment and engagement of its top managers across the board. The bank's customer orientation strategy should be viewed as a customer relationship management tool that aims to guarantee management of target customers and available capital in order to generate sustainable profits over the long term.

Hyper-Personalization as a Customer Relationship Management Tool in a SMART Organization

Purpose: The article subject concerns the research problem of the role of hyper-personalization in the evolution of the company’s relationship with customers. The article aims to identify the potential of hyper-personalization as a CRM tool in a smart organization and find research gaps and areas for further research. Design/methodology/approach: The paper is based on a critical literature review within the field of management and marketing theory and represents the relational approach. The literature review was made as an exploratory study. Findings: Based on the results of that theoretical research and utilizing a relational approach, the article presents the Customer Relationship Management during the technology evolution The theoretical findings indicate a research gap: using hyper-personalization and digital technology for achieving the Customer Relationship Management aims is a highly topical issue and still little penetrated by researchers. Research limitations/implications: The findings and conclusions contained in the article require another step in the scientific process, namely empirical verification. Originality/value: A value of this paper is the fact that it shows the contemporary research directions for the Customer Relationship Management concept in the digital and smart world and combines these with the theoretical and practical frameworks as well.

Organizational learning via gamification for employer brand management

PurposeThis paper aims to deepen our understanding of how serious games could be used for learning in organizations to empower brand performance and image sustaining competitive advantage from a Resource Based View (RBV) perspective and to examine the practical implications of the evolving technologies for employers.Design/methodology/approachThe research methodology is based on a qualitative approach adopting the case study research method (Yin, 2003). Data were collected through fifteen semi-structured interviews (a total of twelve hours) with the involved departments (particularly, Human Resource Management and Marketing) and one month of direct observation for their learning and communication approaches.FindingsSerious games can encourage the learning of employees enhancing their skills and brand performance. Besides, Customer Relationship Management (CRM) tools, a knowledge base, and social media platforms can help in promoting favorable employer brand knowledge, which positively influences the brand image and awareness.Practical implicationsFrom a RBV perspective, businesses can develop their employer branding practices through engaging ways of learning and brand knowledge management supported by digital tools along with boundary-less workplaces, communication efforts, and change management enabling them to enhance brand performance and sustain a competitive advantage.Originality/valueThe evidence on marketing knowledge management is still limited. This case study research makes an empirical contribution by analyzing how serious games and digital technologies could foster the learning in organizations for building strong employer brand knowledge. It answers the call for providing more insights on the relationship between knowledge management and employer brand management.

Instant customer base analysis in the financial services sector

This study empirically validates the performance of stochastic customer base models in noncontract settings where the time at which a customer becomes dormant is not observable. We collaborate with a nationwide financial services company in Korea and analyze the complete transaction data of 373,031 retail customers from 2015 to 2018. We implement the following four buy-'til-you-die (BTYD) models: a) the original Pareto/NBD model, b) the Pareto/GGG model, c) the BG/CNBD-k model, and d) the MBG/CNBD-k model. The four BTYD models perform well in classifying active customers, with an area under the receiver operating characteristic curve of 0.82 ∼ 0.86 for each of the one-month, two-month, …, and twelve-month forecasting horizons. The results demonstrate that the BTYD framework can be used for customer base analysis as an instant heuristic approach that can complement existing customer relationship management tools.

The Importance of Frequent Flyer Programs: An In-depth Analysis

This paper discusses the important roles of frequent flyer programs (FFPs) in the airline industry with an emphasis on FFPs as a tool for airline business development, a customer relationship management (CRM) tool, and an airline tool of highest return of investment among CRM initiatives. An FFP is a sort of loyalty program sponsored by an airline or a group of airlines that rewards regular passengers with extras and prizes to make flying with the airlines convenient. Thus, advantages and disadvantages of FFPs between airline businesses and passengers are critically discussed. The paper examined existing and recent literature reviews with some add-on case studies. Interestingly, FFPs can be both push and pull factors for airline competitiveness enhancement, analytically reviewed. All discussions presented has revealed that FFPs can be a forceful tool for creating airline competitiveness, depending on how the airline manage it professionally or not. It can be summed that if the airlines manage their FFPs effectively, they can retain their existing passengers and be able to keep the market share. Hence, the airline competitors cannot effortlessly enter to the selected market.

Optimization of the Institutional Tutoring System using the CRM management model

Design, validation and reliability of Customer Relationship Management (CRM) tool was performed to measure the degree of association between the internal and external factors that influence the dropout level Technician University Academic Division of Economic and Administrative of the University, in order to timely respond to these factors and determine the decision of students to reduce the dropout rate. To meet the target, a review of the literature related to the subject was conducted by selecting the Cronbach's alpha psychometric instrument, because it is the one that mostly adapts to the characteristics of the study population. This was answered by fifty-three students chosen randomly when generating their school low. It is worth mentioning that important data thrown refer to the external factor due to labor problems and internal to reprobation. The data obtained shows that the implementation of CRM in this type of study is feasible.

Impact of the CRM System and Time Management on Organizational Effectiveness and Performance: Case Study of an E-Commerce Micro Enterprise

Purpose: The main goal of the study is to examine the impact of the implementation of the Customer Relationship Management (CRM) system and Time Management (TM) tools on organizational effectiveness and performance (OEP). A literature review provides the background for presenting the results of own research performed for an e-commerce microenterprise. Design/Approach/Methodology: The empirical research involved a case study with the use of participant observation method and direct unstructured interview. The participant observation results were compared with the results of a direct interview with the CEO of the company and discussed against the background of the research results in the literature. Findings: The research has shown a significant impact of the CRM system on increasing the OEP. There were also differences in the perception of TM's impact on the OEP, the people who did not have TM tools in place used the CRM less and were not able to benefit from the CRM potential. It also became one of the reasons for the failure of the first CRM implementation in the company. In addition, the lack of knowledge of IT management support tools, training, as well as the non-intuitive nature of the CRM system resulted in barriers preventing a further use of the system. Practical Implications: The results indicate what TM functions of the CRM system can be useful to improve the work organization and to increase the OEP of a micro enterprise. Originality/Value: The impact of the simultaneous use of the CRM system and TM tools on OEP has not been described in the literature. The previous studies concerned mainly the impact of the CRM on organizational performance or the TM on the sales team's perfor-mance. No article was devoted to the application of CRM and/or TM in a micro¬enter¬prise. The value of the article results from pointing out the synergy effect from the com¬bination of CRM and TM tools.

Factors affecting the use of social networks as a customer relationship management tool

Factors affecting the use of social networks as a customer relationship management tool

Consumer Innovation Management in the Mining Industry Economy

The development of product innovations acts as the directions of influence on consumer choice in the market for innovative products of mining region. Using the consumer as a generator of ideas and initiator of a new innovation process can significantly reduce the level of uncertainty and risk, as well as increase the efficiency of innovative projects in the mining industry. Currently, consumer-oriented business creates special processes, namely marketing and sales. A similar process should be initiated in the commodity sector. In the extractive industry, Customer Relationship Management (CRM) tools must be used to produce raw materials as the goods targeted at future customers. With regard to mining sector, this strategy should be based on the principles of a systematic approach, longterm partnership, the use of information and communication technologies, as well as the involvement of all owners of mining enterprise's business processes in the communication system with the participation of the consumer.

Customer Relationship Management as a Tool for Improving Customer Loyalty in the Banking Industry: An Empirical Study of Guaranty Trust Bank PLC Situated within the Central Business District, FCT Abuja, Nigeria

Because of the fierce competition in the banking business, it is critical for banks to develop and maintain strong client relationships in order to achieve customer satisfaction and loyalty. As a result, in the banking industry, Customer Relationship Management (CRM) has become extremely important. As a result, the focus of this research was on CRM as a tool for increasing customer loyalty and happiness. The participants in this study are GTBank Plc clients in the FCT Abuja’s core business area. A total of 150 people were chosen at random, and data was collected via questionnaires that were self-administered by a researcher. The research revealed an important connection between customer happiness and loyalty and CRM proxies (service quality, employee conduct, customer data base, solving customer problems, physical environment and social network engagement). It was suggested that banks perform special training programs for their whole operations personnel in order to interact with clients efficiently and effectively by identifying key CRM tools in the financial business.

Abstract IA04: Data-driven recruitment: Implementation of digital marketing strategies for improved participant response rates and retention

Abstract Background: Decline in epidemiology cohort response rates has been documented over decades, with precipitous declines in recent years. Incentives and repeated contact attempts have been shown to increase retention to varying degrees, but the effects of the different types of incentives and methods of contact—details necessary for reliable replication—remain poorly understood. Numerous factors related to study implementation and participant characteristics likely affect response rates, but few cohort studies have published the detailed empirical data that would be necessary to assess their effect. The small number of cohort studies that have published analyses of their recruitment protocols raises the question of how many studies are systematically and rigorously examining their methods. A 2011 review suggested that cohort studies may be less likely to engage in these activities due to concerns of risk to participant loyalty and the cost of assessment. Epidemiology cohorts often involve many concurrent activities and overlapping projects, which may also contribute to the complexity of the task. Considering the long duration of cohort studies, some may perceive that study staff can accurately intuit best practices. However, these challenges are not unique to epidemiology cohorts. The private sector is also concerned with attracting and retaining customers, and as such, companies have developed tools that enable rapid, low-cost reporting on their methods. In the field of marketing, customer relationship management (CRM) systems facilitate both the desired outcome (a customer buying a product) and the collection of data to identify factors that influenced the outcome. Aspects of these targeted marketing approaches and their related software tools provide both a model and a means by which epidemiology cohorts can better understand the constellation of factors that affect attrition among their own populations. Methods: The California Teachers Study (CTS) is a large prospective cancer epidemiology cohort that began in 1995. Since 2013, the CTS has used a commercially available CRM platform, modified with a variety of native applications (apps) and integrations, to manage participant recruitment and data collection for multiple projects. To manage a large-scale biobanking project and multiple tissue collection projects, we began with the platform’s standard contact data management and activity tracking features. We added an app for geolocation fieldwork management and a custom mobile app for surveys and biospecimen chain-of-custody tracking. To manage two follow-up questionnaires, we used available integrations for survey development, email marketing automation, a cloud-based call center with automated activity logging, and a web form for participants to submit information securely from our study website. Central features of all projects have included native reports and dashboards, workflow automations that reduce data entry, and data security measures. Results: The CRM platform has scaled to meet the needs of multiple concurrent projects with highly varied study designs and staffing requirements. By conducting our recruitment activities within the CRM, each interaction with the system (an incoming call from a participant, a blood collection, an automated survey reminder) passively generates useful metadata. These metadata, in concert with structured and unstructured data from participants and staff, enable timely monitoring and retrospective analysis using native reporting tools within the system. The ability to view and analyze clean data from the outset of each project revealed key—and sometimes unexpected—factors that were influencing response. Analysis of data across projects has revealed that characteristics of participants, staff, protocol decisions, technology, and equipment all influence outcomes in distinct ways. Conclusion: Existing commercially available tools, such as a CRM system, can be readily configured to meet the specific research, process, and security requirements of population sciences research. In the CTS, using a CRM system helped reveal that different factors affected participation differently, even within the same project. This presentation will discuss these factors, the approaches studies can use to collect data about these factors, and lessons learned about ways to further improve response rates. Broader adoption of CRM tools could enable the type of data collection and analysis necessary to more precisely define the factors that affect participation and develop more targeted and successful recruitment methods. Citation Format: Jennifer Benbow. Data-driven recruitment: Implementation of digital marketing strategies for improved participant response rates and retention [abstract]. In: Proceedings of the AACR Special Conference on Modernizing Population Sciences in the Digital Age; 2019 Feb 19-22; San Diego, CA. Philadelphia (PA): AACR; Cancer Epidemiol Biomarkers Prev 2020;29(9 Suppl):Abstract nr IA04.

Digital transformations of logistics customer service business models

The article presents the results of expert surveys conducted by international organizations as a method of empirical research to identify current problems, features and trends of customer-oriented logistics services to consumers in the context of digital space. The statistical analysis of the indicators characterizing the level of use of information and communication technologies at management of mutual relations with consumers at the Ukrainian enterprises is executed. The key barriers that hinder the digital transformation of the logistics service have been identified, which are conditionally classified into 6 groups: trading, transport, marketing, information, organizational and financial and economic. The content structure of CRM-system implementation as a customer relationship management tool is proposed. The expediency of the complex approach application to digital transformation of consumers logistic service on the basis of customer orientation is substantiated and the formula of an estimation of synergetic effect from its realization is offered.