SUSTAINING CUSTOMER RELATIONSHIP MANAGEMENT IN BANKING SECTOR THROUGH TOUCH POINTS: A FACTOR ANALYSIS APPROACH

ABSTRACT

Every business unit emphasizes on spurting a long term relationship with customers to nurture its stability in today’s blooming market. Customer’s expectations are now not only limited to get best products and services, they also need a face-to-face business in which they want to receive exactly what they demand and in a quick time. Customer Relationship Management is an upright concept or strategy to solidify relations with customers and at the same time reducing cost and enhancing productivity and profitability in business. Banking sector in India is booming, leading to intense competition from global environment factors. The war is to attract new customers but most importantly to retain the old ones. The companies are tailoring CRM initiatives to increase their customer base. The role customer point is crucial in maintaining long term profitable relationships with the customers. This research attempts to study various touch points related to public, private and foreign banking sectors. The study aims at establishing the importance of customer touch points in CRM. The empirical study establishes the important touch points from customer’s point of view.

Key Words: Customer Touch points, CRM, Customer Retention, Customer experience, Banking sectors