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CUSTOMER RELATIONSHIP MANAGEMENT 12 CUSTOMER RELATIONSHIP MANAGEMENT By (name)

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Added on  2020-03-23

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CUSTOMER RELATIONSHIP MANAGEMENT12 CUSTOMER RELATIONSHIP MANAGEMENT By (name) Course Title 2016 Institutional Affiliation The Date Introduction 3 Company Background 3 SWOT ANALYSIS- CRM Approach by National Australia Bank 4 Strengths 4 Weaknesses 5 Opportunities 5 Threats 6 CRM Project objectives 6 Background information 6 Overarching objectives 6 Project objectives detailed 7 Selected CRM Suite and Analytical Capabilities 8 Introduction 8 Siebel analytical capabilities 8 The Siebel CRM ensures the achievement of the above objectives through the following ways: 9 Infrastructure Requirements

CUSTOMER RELATIONSHIP MANAGEMENT 12 CUSTOMER RELATIONSHIP MANAGEMENT By (name)

   Added on 2020-03-23

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CUSTOMER RELATIONSHIP MANAGEMENT1CUSTOMER RELATIONSHIP MANAGEMENTBy (name)Course TitleInstitutional AffiliationThe Date
CUSTOMER RELATIONSHIP MANAGEMENT 12 CUSTOMER RELATIONSHIP MANAGEMENT By (name)_1
CUSTOMER RELATIONSHIP MANAGEMENT2Table of ContentsIntroduction.................................................................................................................................................3Company Background.................................................................................................................................3SWOT ANALYSIS- CRM Approach by National Australia Bank.............................................................4Strengths..................................................................................................................................................4Weaknesses.............................................................................................................................................5Opportunities...........................................................................................................................................5Threats.....................................................................................................................................................6CRM Project objectives...............................................................................................................................6Background information..........................................................................................................................6Overarching objectives............................................................................................................................6Project objectives detailed.......................................................................................................................7Selected CRM Suite and Analytical Capabilities.........................................................................................8Introduction.............................................................................................................................................8Siebel analytical capabilities....................................................................................................................8The Siebel CRM ensures the achievement of the above objectives through the following ways:........9Infrastructure Requirements......................................................................................................................10Pre CRM implementation......................................................................................................................10Post CRM implementation....................................................................................................................10Training.....................................................................................................................................................10Training – overarching..........................................................................................................................10Training implementation.......................................................................................................................11Timeline....................................................................................................................................................12Budget.......................................................................................................................................................13Conclusion.................................................................................................................................................13References.................................................................................................................................................15
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CUSTOMER RELATIONSHIP MANAGEMENT3IntroductionThe most successful businesses today persistently show the ability and willingness toidentify, understand and meet the customer needs to retain positive business relation (Armstronget al. 2015). Establishing long-term customer relationship is essential in attaining stability in thecurrent dynamic market. The managers work towards formulating strategies that will empowertheir organizations to become customer-centric (Boulding et al. 2013). The customer-centricapproach to increase customer satisfaction through aligning the customer-centered processes andstrategies to the organizational objectives is the underlying concept of Customer RelationManagement. CRM is a business strategy to optimize revenue, profitability and customersatisfaction through designing practices to anticipate insights to customer behavior and provideexceptional services (Khodakarami and Chan 2014, pg 28). An example of superior services toimprove customer experience is through efficient and speedy responses to the customerinstructions, a position which can be accomplished through the introduction of serviceautomation approach in the organization.Company BackgroundNational Australia Bank (NAB) is one of the largest financial institutions in Australia. Itis a bank with the highest capital assets value in Australia and commands a large customer basein the banking sector (Sheridan and Jang 2012). The bank operates in over 1,500 branches inAustralia, New Zealand and other countries around the world, serving over 12 million customers.The higher percentage of NAB revenues is earned from Australia operations which form 74% ofthe total revenue share according to 2014 bank financial results. With the remaining share ofincome received from the operations in other countries majorly in United Kingdom, NewZealand, and the United States.
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CUSTOMER RELATIONSHIP MANAGEMENT4To prevail in the market as a leading provider of financial and banking services, NationalAustralia Bank has shown commitment to developing its business through understanding andsupporting customers to meet their needs. The bank strives to offer outstanding services to bothits retail and corporate customers through competent, innovative and inclusive manner. As statedin their core values, that NAB is not only good for managing money matters but to its people too,this value is demonstrated through its devotion in giving specific solutions to the currentcustomer requirements.SWOT ANALYSIS- CRM Approach by National Australia BankThis involves the analysis of the strategic factors within the business environment toenable the company leverage on its strengths and eliminate weakness in exploring thecompetitive market (Hollensen 2015). The below is the detailed analysis of NAB internal andexternal factors that may affect its performance in the market.StrengthsThe bank has a good brand name and stable financial position. National Australia Bankreceived an excellent reputation through being the first bank in the world to issue the green bondto the Climate Bonds Standard in 2014, for financing climate change solutions. The revenues andinterest income information obtained from the bank's 2016 financial year result indicated anincrease in cash earnings by $40 million (12.7% increases) compared to the 2015 economicfigures. The net investment income increased with $19 million in the same year. It further showsa reduction in operating expenses by almost $28 million, 3.6% decrease from the previousresulting to a strong balance sheet (Sheridan and Jang 2012).The financial institution also offers a wide variety of products and services to thecustomers. The bank offers diverse products including asset management, business and
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