Towards a successful CRM implementation in banks: An integrated model

Research output: Contribution to journalArticlepeer-review

66 Citations (Scopus)

Abstract

In recent years, customer relationship management (CRM) has been the favoured theme for numerous studies and reports. Yet, there is a lack of systematic empirical evidence regarding the critical success factors (CSFs) for the CRM implementation, the activities that are affected by the use of the CRM programmes, and their consequent performance outcomes. In this article, we document the role of the CRM programmes in the banking sector and identify marketing activities that are affected by CRM usage. Taking a sample of 159 banks that utilise a CRM system, we found a substantial positive effect of the CRM usage on relationships effectiveness and marketing objectives. The results of this study have major implications for marketing people, as they suggest the notion that the CRM critical success factors should be implemented holistically rather than piecemeal to achieve the full potential of the CRM. The findings also stress the central role of customer services in the successful implementation of CRM programmes within banks.

Original languageEnglish
Pages (from-to)1021-1039
Number of pages19
JournalService Industries Journal
Volume27
Issue number8
DOIs
Publication statusPublished - Dec 2007
Externally publishedYes

ASJC Scopus subject areas

  • Strategy and Management
  • Management of Technology and Innovation

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