Customer Relationship Management in Banks – An Empirical Study

Customers are the pivotal theme in the development of prosperous marketing strategy. Customer retention takes up significance in revenue analysis of innumerable organizations. The accomplishment of CRM process depends on the vigorous involvement of all managers and employees in the banking field a exceptional ‘Relationship’ exists between the customers and the bank, because of several reasons and apprehensions like financial burdens, risk of failure, marketing inertia etc., many banks are still following the customary means of marketing and only a small number of banks are making attempts to acclimatize CRM. Providing service to customers has been acknowledged as the chief restraint of the Banks and therefore, Banks considered that CRM is the best instrument to accomplish the job of rendering good services. The deficiency of understanding on Customer Relationship Management (CRM) is continually a apprehension among the service providers particularly banks. Banks have their own method of handling their relationships with the customers. However, the view of customers on CRM practices among banks should also be taken into thought. CRM movement be present at the needs of consumers without interruption in time, the banks can create more wakefulness to customers and can create a customer information base very meaningfully.