Abstract:

This paper focuses on the ability of CRM tools in improving the functionality of marketing within the context of the banking industry. Employing a secondary qualitative approach, the study cuts across cross-sectional research and reviews theoretical frameworks and practical case studies to assess the effectiveness of CRM tools, and its impact in enhancing customer segmentation, campaign management, and the overall approach to engaging and interacting with consumers. Outcomes reveal benefits of implementing CRM tools in relation to increasing company’s profitability, expanding customer satisfaction and solving issues like data protection, legislation requirements and combining various systems. Based on this study, the author establishes that appropriate CRM implementation, backed up by ICT and employee training, is crucial to long-term organisational efficiency and competitive advantage for banks.

Description:

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