On The Change Of CRM And Retail Business Marketing Strategies Of Chinese Commercial Banks

The theme of this paper is dissertating that the customer-oriented marketing strategy is the inevitable choice of Chinese retail banking business and the introduction of Customer Relationship Management(CRM) is indispensable to the realization of customer-oriented marketing strategy.At the same time ,there is also given the suggestion of how we should implement CRM in our retail banking business.Till today ,the marketing strategy of retail banking business have generally gone through two stages:product-oriented marketing strategy and customer-oriented marketing strategy.Aiming to the share of market, the product-oriented marketing strategy regard all of customer as a whole, take the same product measure,price measure,promotion measure mainly by advertisement.While on the basis of customer interaction and with the purpose of customer retention, customer-oriented marketing strategy provide different product for different people in different sale and promotion channel with consideration of customer demand and customer value.In recent years ,the importance of CRM which could bring customer-oriented marketing strategy to success have come to be realized .CRM is the combination of modern management science and advanced information technology ,which ,based on sophisticated databases fed by electronic commerce, call center,Automatic Teller Machines, point of sale devices and other customer touch points ,lay emphasis on customer relationship,rebuilt organization system and optmize work flow to accomplish the goal of satisfying the customer's need or desire by way of the right product to the right customer at the right time through the right channel.Foreign banks ,many of which seeking to tap into Chinese booming market for retail banking business have realized the importance of customer ,and successfully resorted CRM to the practice of customer-oriented marketing strategy giving them powerful capacity of competition .Chinese retail banking still stick to product-oriented market strategy whichbring much disadvantage to our bank competitive power,such as shortage of product innovation,neglect of high value customer,high cost with low profitability .Distinctive gap in contrast to comprehensive and personalized product of foreign banks severely undermines our bank's competition strength and threaten the dominance of our retail banking business.It is vital to our Chinese retail bank to switch to customer-orinted marketing strategy and apply CRM to it to identify our best customers ,to segment customer base and offer more distinctive,higher-quality products and services to the most attractive segments.The implematation of CRM is impossible to accomplish in an action.combining with the present situation of Our Chinese bank ,our bank should progressively put CRM in practice from both management aspects and technology aspects.From management aspects,it is necessary to initially erect CRM concept in all personnel,then transform the former work flow and organization system to realize automation of marketing and distribution and smooth CRM process,removing the obstacles against CRM.From technology aspects,our Chinese bank should mainly build database and call center step by step on basis of existing information system and customer service center to achieve intelligentized customer information collection and analysis as well as interaction with customer .With good order and overall collaboration confirmed,the above items could be under construction at the same time .As a result of moderate process of CRM into customer-oriented marketing strategy,our Chinese bank will maximize profit of retail banking business by optimization of customer relationship ,customer satisfaction and customer loyalty...