LAUSR

Companies have realised the importance of CRM in retaining existing customers, acquiring new customers and maximising their lifetime value. The purpose of this study is to measure the effectiveness of CRM practices in banks. To identify the antecedents which are more important to build good relationship between banks and their service users and to compare the effectiveness of CRM in public and private sector banks in Delhi. For this, the customers of private and public banks were surveyed with given 24 different statements regarding CRM practices adopted by different banks. The results of factor analyses revealed four dimensions for CRM, namely, customer experience, technology-orientation, organisational commitment and process-driven approach and reliability. This survey helps to evaluate the actual perception of service users towards CRM practices of each bank. The identification of the parameters will help bank manager to effectively implement CRM that increases customer satisfaction and loyalty.