Loyalty To Banks
...s improvising their products as per customer demands and giving various investment options to their clients as well as value added services. To make a major mark in the field, banks today are focusing on customer service to retain their most valuable clients. This can be seen in the emergence of multiple interaction options for the investor to contact a bank -- phone banking, mobile banking, Net banking, etc. The banks today are a prime example of the service industry. Therefore the attributes of a service industry (some go to say to the extent of hospitality industry), can be applied here. The CRM approach has to be top-down right to the front-end, customer-facing employees. This is where the customer has his/her moment of truth! The key areas for an effective CRM strategy will have to involve client servicing and sales/marketing. Client servicing -- for prompt resolution of problems/requests by the investors. Marketing -- for leverag...