Financial Daily from THE HINDU group of publications
Friday, Mar 26, 2004
Financial Daily from THE HINDU group of publications Friday, Mar 26, 2004 |
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Money & Banking
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Customer Relationship Management `Banks don't walk the talk on toll-free services' Our Bureau
Mumbai , March 25 TOLL-FREE telephone lines may be much advertised and encouraged by banks in the recent retail boom, but these facilities are not being well used by banks in India, according to a recent study conducted by an independent research company, Lumiere Marketing Solutions. Eighty seven per cent of all Indian banks researched made no attempt to understand what features the customer was interested in before making product recommendations over the telephone. The study, which focused on banks' use of alternative channels such as call centres and e-mail, noted that Indian banks, like their Asian counterparts, were not fully leveraging their customer interactions to build customer loyalty, increase products per customer and maximise returns. "Out of customers who had expressed interest in specific products of the bank through alternative channels but needed to think about the product, only 1 per cent of them received any follow-up calls from the bank later on," said Mr Dan Bognar, Asia Pacific Director, Customer Strategy, Siebel Systems, at a press conference held here on Thursday. Siebel Systems and IBM, both providers of customer relationship management applications and business intelligence tools, commissioned the research study. Mr Bognar is to meet Indian bankers on Friday to discuss the results of the survey. The survey spanned across Asia-Pacific and Japan, with 13 per cent of the sample consisting of Indian banks.
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