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Presentation

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BRAC Bank limited :

CRM Activities and
Implementation

What do we mean by
Customer Relationship Management (CRM) is a coCRM?
ordinate approach to the selling process allowing the
various operational, customer contact and sales
promotional functions of an organization to function as a
whole.
Customer Relationship Management is the
establishment,
development,
maintenance
and
optimization
of
long-term
mutually
valuable
relationships between consumers and the organizations.

Purposes of CRM
CRM system brings together lots of pieces of
information
about
customers,
customer
characteristics, sales transactions, and marketing
effectiveness, responsiveness, and market trends,
however the purposes of a CRM system are to:
Enhance customer service

Improve customer service

Identifying the valuable customer of the firms

Ensure customer retention by aligning business

processes with technology integration

CRM Requirements
In CRM projects, following data should be collected to
run process engineResponses to campaigns,
Shipping and fulfillment dates,
Sales and purchase data,
Account information,
Web registration data,
Service and support records,
Demographic data,
Web sales data.

Now it is important to
emphasize why retention
is Tonecessary
increase customer share into the market
Retention increases profitability
Sales and marketing costs are amortized over a longer

customer lifetime

Customer expenditure often cost less to service

Satisfied customers provide referrals
Satisfied customers may be prepared to pay a price

premium

IDENTIFYING CRM
CUSTOMERS
Evaluating the customers past behaviour and
purchase history, identify the customers Who are more profitable.
Who may be the loyal customer.
Who bear the most life time value.
Who may be the promotion for the
organization etc.

CUSTOMER RETENTION
Customer Retention is the activity that a selling
organization undertaken order to reduce customer defections.

UNDERSTANDING CUSTOMER
LOYALTY

FACTORS THAT AFFECT

CUSTOMER LOYALTY
SATISFACTION
EMOTIONAL BONDING
TRUST
CHOICE REDUCTION AND

HABIT
HISTORY WITH THE COMPANY

FACTORS THAT LESSENS

CUSTOMER LOYALTY
COMPETITIVE PARITY
VARIETY SEEKING

BEHAVIOR
LOW INVOLVEMENT

CUSTOMER LIFE CYCLE

BRAC Bank and CRM

Easy Access to Information and Transaction

Discount and Cash Back Services.
Shopping and Payments.
Smart Opener Service.
BRAC Bank Mobile Service.
Two Factor Authentication (2FA).
Call Centre Automation.
SMS Banking.
Phishing Alert.
Non-Stop Banking Services.
Locator Services.
Bkash Service.
Co-branding and Alliances with different organization.

PROPOSED CRM SETUP of BRAC

Bank

CRM Strategies of BRAC

Bank
Customer Behavior Patterns
Customer Data
Customer value management
Prospecting
Selling
Collection and use of customer intelligence
up-selling and cross-selling
Customer service and retention
Protection of customer privacy

Basic Rules of CRM for BRAC

Bank
CUSTOMER IDENTIFICATION :

To provide value to the customer, the company must know or identify the
customer through marketing channels, transactions, and interactions over
time.
CUSTOMER DIFFERENTIATION:
For profit maximizing, customer should be differentiated with proper scoring
method considering their lifetime value.
CUSTOMER INTERACTION:
Customer demands change over time. Keeping track of customer behaviour and
needs is an important task of a CRM programs.
CUSTOMIZATION/PERSONALIZED :
Treat each customer uniquely in the motto of the entire CRM process. Through
the personalized or customization process, the company can increase customer
loyalty.

Why BRAC Bank adopts CRM?

By Paretos Principle, it is assumed that 20% of a companys

customer generates 80% of its profits.

It is more expensive to acquire a new customer than obtain
repeat business from an existing customer. The costs lie with
promotional campaign, phone calls, administrative expenses
etc. with acquiring new customers.
A typical dissatisfied customer tells 8 to 10 people about his or
her experience, which deteriorates companys impression.
An increase in retaining customers translates into more
increase in profitability

Benefits of CRM to BRAC

Bank
CRM Banking Focuses on the Customer
Overall Profitability
Satisfied Customers
Centralized Information
CRM Banking Boosts Small Banks
Customer Segregation
Aggressive Customer Acquisition
Improved Cross-sell Framework
360-degree view of company

Cost and Benefits of CRM for

bank and Customers

Comparison of CRM between BRAC Bank

and EXIM Bank, Bangladesh
BRAC Bank: here the bank is different with,
Easiness of banking through mobile and SMS banking,
where one can transact money and inquire information
both at same time.
Discounting services.
Easy financial inclusion.
EXIM Bank: here these are the services which is related to CRM
but not sufficient, are It just enabled internet banking and SMS banking where SMS
banking only serves the account info services.
Usually this bank focus on export import banking services and
customers.

Implementing CRM Strategy of

BRAC
Bank
Four steps are required for implementation
process Implementing customer-centric business
strategies.
Redesigning functional activities
Re-engineering work processes
Selecting the appropriate software

 Acknowledge email enquiries

Develop the right contact strategy

Method of Effective CRM

Implementation
for BRAC Bank
Providing online `chatting

Reduce costs by improving website design and selfservice

Analyses the project's scope
Know thy limitations
Change accounts into customer

Challenges Faced Bank for

Implementing CRM

Management and the developers do not have a clear

understanding or definition of the components or

purposes of a CRM system.
Management and the developers define the project
scope too large.
Management fails to commit an executive sponsor or
champion to the project.
Management and developers fail to understand the
expectations of key constituent groups in using the
CRM system

Recommendations
Full automated system should be applied all over the world.
Employee engagement needs to be properly designed in order to feed

a large number of customers retaining satisfaction at the same time.

Customer satisfaction survey must be made before applying CRM.
Training scheme should be build up for employee management.
Only not to employee but also to customers to introduce those to the
new technology and system and services to acquire profit easily.
Educational institutes specially business departments should include
CRM issue with their academic curriculum.