CRM application in customer service management at the Big 4 banks in Vietnam

Abstract

Currently, in Vietnam, the phrase "Customer Relationship Management" or CRM is known and recognized by many businesses such as banks, insurance companies and other service providers. The importance of Customer Relationship Management (CRM) and its potential to help them acquire new customers retain existing customers and maximize their lifetime value. At this point, close relationships with customers will need close coordination between marketing and IT departments to provide long-term maintenance for selected customers. This article refers to the role of Customer Relationship Management in the banking sector and Customer Relationship Management needs to increase customer value by using a number of analytical methods in CRM applications. CRM is a sound business strategy to identify the bank's most profitable customers and potential customers. Therefore, the management of customer relations in banks is one of the prerequisites for getting the bank to achieve the desired goals.