SIBM BengaluruMBA (Marketing) Sem-4CRM Presentation

Group 6 • Adan Khan• Advait Bhobe• Akansha Vaish• Anand Bhate• Harmanpreet Kaur• Kumar Vaibhav• Mohit Mahal• Sanchit Baweja

• Client service advisors• Statements• Promotional events• Products• Financial expert reports• Website• Intranet• IT-systems• Research reports• Sponsoring• Word of mouth• E-banking• Call centres

Bank Customer Touch Point Matrix

Touch points in a bank

Touch points in a bank

Touch-point Improvement

• Traditionally, it was believed that customer experience is the summation of all the customer’s interactions with a bank at various touch points, over time.• But, few researchers like Steven Walden have observed

that customer experience is the extraction of value from what the touch points mean to the customer i.e., some touch points weigh heavier in the experience than others.• It is important to take the time to look at the bank’s own

business practices comprehensively through the lens of their customers to understand how they measure up to their customers’ needs and expectations.

• Conducting customer-satisfaction surveys is not enough.• To better serve your customer base and more effectively

acquire new customers, you need to delve into the details of individual interactions to understand the relationship between each customer touch point and the value it delivers to customers.• Value may be built through a series of positive experiences,

but it is maintained through consistently meeting the needs and expectations of your customers throughout the customer lifecycle—from pre-purchase consideration to post-purchase evaluation.

Touch-point Improvement

• Every bank, whether it starts with small steps or radically shifts its culture to become more customer-centric, should consider customer touch-point analysis and management as a tool to drive increased business value.• The steps necessary to improve customer experience are not

rocket science but a conscious analysis of bank’s organizational boundaries and functional implications.• Banks would benefit by adopting technology to aid them in

this effort of taking a really honest look in the organizational mirror to see the face the customer are actually seeing rather than the they thought their customers were seeing.• When conducted the right way, customer touch-point analysis

can provide invaluable insights that serve as a catalyst for change and increase customer value.

Touch-point Improvement

Did you know?

Merits of single customer ID system

• Single customer ID will help banks to cross sell their products to their customers, customer servicing

• It will help banks to maintain a complete record and database of all customers through one single ID giving to each customer

• Customer profiling-

• It will help banks in doing integrated CRM activity in a better way

Demerits

• Customers will get a single statement for all their products which they buy from bank• It will a hassle for a customer to maintain a single

statement for all activities• Customers will not be able to keep their transactions

discrete.• A single ID system has challenge of maintaing customer

privacy.

THANK YOU!