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Customers Relationship Management"How do I create more profitable customers?" Many managers have been trying to answer this question. One of the most effective ways to accomplish this task is to use specialized methods and tools to develop customer relationships with the help of CRM tools. CRM tools help solve various business-tasks:
- Significantly reduce customer attrition through:
• diversification of offered products
• offering the extension of products, services or participation in marketing campaigns, to retain customers
• effective processing and response to customer complaints/disputes
• detailed analysis of hard cases performed by special managers
- Increase the profitability of each customer through: • additional sellings and cross sellings
• mass notification systems (e.g. about a new product marketed by the bank)
• reduction of overdue debts
• automation of customer application acceptance
- Increase customers' loyalty
- Improve the selling process
To effectively employ the CRM tools it is necessary to collect, structure, store and analyze a large and varied amount of information about the customer, then start applying special methods to effectively process the available information. We offer an automated CRM system which allows banks to take the relationship with their customers to the next level:
collect and store all the necessary information - create a knowledge base per each customer
organize marketing events of various types - send out alerts to individuals reminding them of credit maturity
create an effective call-center
offer diversified products to different target groups based on specific criteria
improve the quality of the services rendered
analyze the activities in the area of client relationship
plan the sales managers’ work load
Our CRM solution includes:
An example of a CRM system used in a bank: Deposit retention On regular basis the bank offers its customers seasonal 3 month promotional deposits with higher interests. Statistically before the implementation of the CRM system the customer turn-over at deposit maturity amounted to 50%. After the implementation of the CRM system:
- All the customers were divided into segments according to the volume of the deposits, currencies and use of other banking products (primarily loans and cards). Furthermore, the history of each customer’s activities was analyzed.
- Several customer segments were defined and a special product was offered to target each group.
- All customers who had deposited money one week prior to the end of the advertising campaign, were contacted by the call-center operators and offered a special deal: • Customers who had deposited more than 1 million rubles or 35 thousands USD/EURO were offered VIP-services and a gold card as a gift. • Customers with no more than 300 thousand rubles on their accounts, but who had deposited their money for the second time, were offered to deposit their money for a longer period of time (6 to 12 months) and get free internet banking services. • Customers with deposits ranging from 500 thousand rubles to 1 million rubles, who re-deposited their funds in the Bank, were offered a credit card with a 3-month grace period. • The remainder of the customers was made an offer to redeposit their funds for a longer period of time (with 0, 5% higher rate than the previous). This CRM campaign resulted in 25% of turnover decrease, which is twice as less.
Our CRM solution has been effectively implemented and is in use in various Russian banks. Here are some of them:
AKIBANK
Russian Development Bank
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