Recommendations of improving the CRM of the MayBank
1. New technology is needed in order to stay close with customers To make the transition from a product-centric bank to a customer-focused organization, Maybank needed a new technology solution that could strategically leverage the right customer information at the right time. A new CRM system should provide the following function: • Analyze and promote understanding of customer behaviour • Use data to predict and influence customer behaviour
• Conduct effective communications to improve customer acquisition, cultivation, retention, loyalty and profitability • Creatively use multiple customer touch points as part of the business strategy, optimizing the multi-channel, multi-step approach to reach customers
2. Event –based marketing can improves the customer experience Maybank’s analytical CRM system includes an event-based engine, scanning significant customer transactions based on pre-defined business rules and priority. With this structure, the marketing team can contact customers when they are likely to be ready to make a decision that impacts their financial picture. This approach also optimizes the time spent on customer contact by branch and call centre personnel.
3. Full campaign automation with channel reduce the waiting time Maybank’s can implemented a new CRM environment includes a full campaign automation process with channel integration, providing an avenue to create business opportunities using cost-effective database marketing practices. It also enables a closed-loop marketing process that supports campaign refinement. Channel integration provides a concrete base to support single-step campaigns, as well as multi-step, event-triggered, multi-channel communications, offering the fastest, smartest ways to understand and create meaningful conversations with individual customers. Now users can get that data in minutes or seconds. That difference positively impacts time to market....
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