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Crm Activities by SBI

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Shubhrat Sharma
Shubhrat Sharma

The presentation is about the CRM activities of SBI. This ppt also provide various statistics on why CRM is importance.

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Shubhrat Sharma
AGENDA • GENERAL STATISTICS • CRM BY SBI PRISM • CRM AT SBI
Why customers quit ? • 1% DIE • 3% MOVE AWAY • 5% DEVELOP OTHER FRIENDSHIPS • 9% LEAVE FOR COMPETITIVE REASONS • 14% ARE DISSATISFIED • 68% QUIT BECAUSE OF AN ATTITUDE OF INDIFFERENCE
General Statistics The average business never hears from 96% of its unhappy customers 91% never come back Getting a repeat customer from this group is 1 in 11 Dissatisfied customers may tell 9-10 people about their experience For every positive they tell 4-5 people
General Statistics… Of the customers who register a complaint, as many as 70% will do business again with your organization if the complaint is resolved effectively, This figure goes up to 95% if the complaint has been resolved quickly, 40% of complaints are the result from customer mistakes or incorrect expectations, A complaint that is handled efficiently is actually better than no complaint at all, Customers who complain and get satisfactory results are 8% more loyal than if no complaint at all,
SBI PRISM WHY CRM: • INCREASING AWARENESS • INCREASING AFFLUENCE IN THE EMERGING ECONOMIES • CUSTOMER DIVERSITY • TECHNOLOGICAL ADVANCES • PROCESS • ALTERNATE DELIVERY CHANNELS • COMMUNICATION • INCREASED NUMBER OF PRODUCTS IN THE LONG RUN • HELPS IN UNDERSTANDING NEEDS OF CUSTOMERS
CRM Objectives Lifetime Value (LTV) • Refers to the net present value of the potential revenue stream for any particular customer over a # of years • Starts with current purchase activity then extrapolates to include potential additions from cross-selling, upgrades,total ownership, etc. Customer Ownership • Attempts to “own” the lion share of customer spending and/or “share of mind” in a particular product category • Building brand equity, maintaining vigilant customer contact, keeping current with the market trends is critical • 5% points increase in customer retention=20-125% increase in profit
CUSTOMER RELATIONSHIP MANAGEMENT Duration of Customer RelationshipValue
BUILDING CRM Increase longevity of customer relationship Manage expectationsbetter Specialised Services Personal Touch Customise productsas per their needs Increase trust Understand need of the customers Differentiate customers in terms of value to the Bank (leverage database available) Identify prospectsand customers
BUILDING CRM Gain more control in interaction with customers Manage expectations better (90-10 rule) Understand what customers really want Provide products that better serve customers Competitive advantage
Targeting Acquisition Retention Expansion Customer Relationship Management can be simply defined as everything involved with managing the customer relationship. • Who do we target • What segments are most profitable • What segments match our Value Proposition • What is the best segmentation strategy for us / our industry •What is the best channel for each segment •What is the acquisition cost for a channel / segment •Do certain channels deliver certain types of customers •Cost effective acquisition •How can we retain •What is our average CRM length •How can we hold customer for as long as possible •What is the most cost effective method of retention •How many products does our average customer buy •How can we induce our current base to buy more products •Who are the prime targets for expansion •What is the cost of expansion Customer Relationship Management
CRM AT SBI SBI divide its customers into following categories • P-segment (personnel banking) • Agriculture segment • Corporate/govt segment • Sme For different segments sbi provide different products Separate meeting for the different segment are called and their needs are asked for.
Providing the alternate channels • A T M CUM DEBIT CARD / SME DEBIT CARD • MOBILE BANKING • INTERNET BANKING • GREEN REMIT CARDS / INSTA DEPOSIT CARDS • CASH DEPOSIT MACHINE • GREEN CHANNEL COUNTER • SELF SERVICE KIOSK • CONTACT CENTRE
• AVAILABILITY OF 24X7 SERVICE • TO CATER TO THE NEEDS OF YOUNGER GENERATION. • QUICKER AND CONVENIENT TRANSACTIONS. • PAPERLESS / ENVIRONMENT FRIENDLY TO A GREAT EXTENT. • TXNS AT TIME AND PLACE OF CUSTOMERS' CHOICE • DECONGESTION OF BRANCHES • CHEAPER TRANSACTION COSTS. Providing the alternate channels
90-10 rule • 10% OF LIFE IS MADE UP OF WHAT HAPPENS TO YOU. • 90% OF LIFE IS DECIDED BY HOW YOU REACT. • EMPLOYEES OF SBI USE THIS RULE TO REACT THEIR CUSTOMERS DEMANDS AND QUERIES BETTER .
Customer Portfolio Management Problem Value I II III IV Exit Ring fence Protect & leverage Problem identification Nurture Low High High
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Crm Activities by SBI

  • 2. AGENDA • GENERAL STATISTICS • CRM BY SBI PRISM • CRM AT SBI
  • 3. Why customers quit ? • 1% DIE • 3% MOVE AWAY • 5% DEVELOP OTHER FRIENDSHIPS • 9% LEAVE FOR COMPETITIVE REASONS • 14% ARE DISSATISFIED • 68% QUIT BECAUSE OF AN ATTITUDE OF INDIFFERENCE
  • 4. General Statistics The average business never hears from 96% of its unhappy customers 91% never come back Getting a repeat customer from this group is 1 in 11 Dissatisfied customers may tell 9-10 people about their experience For every positive they tell 4-5 people
  • 5. General Statistics… Of the customers who register a complaint, as many as 70% will do business again with your organization if the complaint is resolved effectively, This figure goes up to 95% if the complaint has been resolved quickly, 40% of complaints are the result from customer mistakes or incorrect expectations, A complaint that is handled efficiently is actually better than no complaint at all, Customers who complain and get satisfactory results are 8% more loyal than if no complaint at all,
  • 6. SBI PRISM WHY CRM: • INCREASING AWARENESS • INCREASING AFFLUENCE IN THE EMERGING ECONOMIES • CUSTOMER DIVERSITY • TECHNOLOGICAL ADVANCES • PROCESS • ALTERNATE DELIVERY CHANNELS • COMMUNICATION • INCREASED NUMBER OF PRODUCTS IN THE LONG RUN • HELPS IN UNDERSTANDING NEEDS OF CUSTOMERS
  • 7. CRM Objectives Lifetime Value (LTV) • Refers to the net present value of the potential revenue stream for any particular customer over a # of years • Starts with current purchase activity then extrapolates to include potential additions from cross-selling, upgrades,total ownership, etc. Customer Ownership • Attempts to “own” the lion share of customer spending and/or “share of mind” in a particular product category • Building brand equity, maintaining vigilant customer contact, keeping current with the market trends is critical • 5% points increase in customer retention=20-125% increase in profit
  • 8. CUSTOMER RELATIONSHIP MANAGEMENT Duration of Customer RelationshipValue
  • 9. BUILDING CRM Increase longevity of customer relationship Manage expectationsbetter Specialised Services Personal Touch Customise productsas per their needs Increase trust Understand need of the customers Differentiate customers in terms of value to the Bank (leverage database available) Identify prospectsand customers
  • 10. BUILDING CRM Gain more control in interaction with customers Manage expectations better (90-10 rule) Understand what customers really want Provide products that better serve customers Competitive advantage
  • 11. Targeting Acquisition Retention Expansion Customer Relationship Management can be simply defined as everything involved with managing the customer relationship. • Who do we target • What segments are most profitable • What segments match our Value Proposition • What is the best segmentation strategy for us / our industry •What is the best channel for each segment •What is the acquisition cost for a channel / segment •Do certain channels deliver certain types of customers •Cost effective acquisition •How can we retain •What is our average CRM length •How can we hold customer for as long as possible •What is the most cost effective method of retention •How many products does our average customer buy •How can we induce our current base to buy more products •Who are the prime targets for expansion •What is the cost of expansion Customer Relationship Management
  • 12. CRM AT SBI SBI divide its customers into following categories • P-segment (personnel banking) • Agriculture segment • Corporate/govt segment • Sme For different segments sbi provide different products Separate meeting for the different segment are called and their needs are asked for.
  • 13. Providing the alternate channels • A T M CUM DEBIT CARD / SME DEBIT CARD • MOBILE BANKING • INTERNET BANKING • GREEN REMIT CARDS / INSTA DEPOSIT CARDS • CASH DEPOSIT MACHINE • GREEN CHANNEL COUNTER • SELF SERVICE KIOSK • CONTACT CENTRE
  • 14. • AVAILABILITY OF 24X7 SERVICE • TO CATER TO THE NEEDS OF YOUNGER GENERATION. • QUICKER AND CONVENIENT TRANSACTIONS. • PAPERLESS / ENVIRONMENT FRIENDLY TO A GREAT EXTENT. • TXNS AT TIME AND PLACE OF CUSTOMERS' CHOICE • DECONGESTION OF BRANCHES • CHEAPER TRANSACTION COSTS. Providing the alternate channels
  • 15. 90-10 rule • 10% OF LIFE IS MADE UP OF WHAT HAPPENS TO YOU. • 90% OF LIFE IS DECIDED BY HOW YOU REACT. • EMPLOYEES OF SBI USE THIS RULE TO REACT THEIR CUSTOMERS DEMANDS AND QUERIES BETTER .
  • 16. Customer Portfolio Management Problem Value I II III IV Exit Ring fence Protect & leverage Problem identification Nurture Low High High