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Customer Relationship Management Plan PDF

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Added on  2020-03-16

Customer Relationship Management Plan PDF

   Added on 2020-03-16

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Running head: CUSTOMER RELATIONSHIP MANAGEMENT PLANNational Australian Bank (NAB)Name of the StudentName of the UniversityAuthor Note
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1CUSTOMER RELATIONSHIP MANAGEMENT PLANTable of Contents1.Introduction of the company...............................................................................................22.Current state analysis of the company................................................................................33.CRM program/project objective.........................................................................................44.CRM Solutions and its advantages.....................................................................................55.Determine Infrastructure Requirements..............................................................................66.Training...............................................................................................................................77.Establish a timeline.............................................................................................................88.Establish a Budget..............................................................................................................99.References.........................................................................................................................11
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2CUSTOMER RELATIONSHIP MANAGEMENT PLAN1.Introduction of the companyAustralian banks highly value their communities in which they have establishedthemselves. They are very much committed towards attracting with their stakeholders.Stakeholders can be the bank’s customers, employees, suppliers, community partners andthe wider community or their surroundings. In Australia, most banks are found providingfree discounts as well as exceptions to senior citizens, students and individuals withdisabilities. There are other facilities also that guides their customers by offering themfinancial education, literacy and additional programs and activities. National AustraliaBank (NAB) is among the boss who supplies banking services to the businesses inAustralia (Shamsuddin and Xiang 2012). It however, has expertise who is specialist in theagribusiness, health, government, education and lastly community banking. NAB groupin United Kingdom, New Zealand, Asia and United States of America accompanies allthe fields. The one and only vision of this company is to become the most admirable bankin Australia and New Zealand. National Australia was founded in 1858 and namedNational Bank of Australasia. Currently, they are having 35000 employees who arehelping banking of 10million along with wealth management customers who are spreadacross 10 worldwide authorizations (Wilson 2012). In 1864, they were successful inopening their first office internationally in London due to their colonial links. As theydevelop themselves, they started opening more offices internationally. Presently, morethan 500 employees across Asia are serving around 20,000 people, business andinstitutional customers. NAB also follows CRM practices so that they can have betterunderstanding of their customers for a advancing in better enhancement of the products,segmentation, proper targeting, managing campaigns and sustaining the long-term profitand mutually benefited relationship with their customers.
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3CUSTOMER RELATIONSHIP MANAGEMENT PLAN2.Current state analysis of the companyStrength and weaknessThe strengths of CRM is that it helps in managing the customer data and helps thestaff to get more effective in handling their customers, it manages the developing databaseand centralizes all the data. It further helps building long-term relationship with customers.On the other hand, the weaknesses are the difficulty that is faced in the changeover from themanual to automatic process and the possibility of the software of CRM being hacked(Vasiliu 2013). Improvisation of the weaknessesTo protect the CRM data from the hacker’s basic security processes needed to becarefully practiced, update the antivirus systems so that it can block or detect the loggedsignatures. Big data analytics should be used so that there is network security visibility andrecognition to deaf the rivals (Desai and Kulkarni 2013). Administrative activitiesFor National Australia Bank the administrative activities that are hampering theirproductivity is business realignment that is National bank which is a traditional bank mustchoose to shift into nontraditional businesses like payment processing, specialty financing.Another problem is Channel optimization. It is to evaluate the different ways in whichcustomers interact with the banks so that a cost effective combination is created to the bank’scustomer base (Bowe, Briguglio and Dean 2014). Opportunities and threats
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