Customer Relation Management Help Britannia Term Paper

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Britannia links CRM to the customer knowledge. It emphasizes on complete knowledge of the customer to engage in meaningful conversations, to identify with them and to assist realize their needs. Such an intimate relationship accomplishes its own presentations and assists to generate a win-win situation. Implementation of CRM in Britannia involves segmentation of its customer base in accordance with the customer value that incorporated the present value views and also the life time value views. It has the complete recognition of its two million customers. (CRM: getting it right, at last)

Such information rests in its customer information database that it applies as the basis for all its activities-beginning from its sales strategies and marketing campaigns to the logistics of automation in feeding leads, with scripting extended to the branch and call center personnel. Such efficacies in CRM have declined the cost-income ratio from its direct marketing from about 7:10 to 2:10. Moreover, it has enhanced the number of customers whom they have cross sold to each year by 100% and also enhanced the number of products used by each customer to about 15%. The success of the CRM approach of Britannia depended on a varied series of factors such as transparency in its objectives; top level management buys-in, strict devotion to measurements and metrics; and insistence. (CRM: getting it right, at last)

Britannia building society has adopted an advanced customer confronting system that will both cater to the marketing data to the branch staff and retain data to permit monitoring interactions with customers.

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This is considered significant to Britannia as a portion of its CRM initiatives those involves on-screen prompts for branch staff like querying members if they attained the latest mailing and if they would like additional information. David Crawshaw, the senior manager CRM of Britannia Building Society, conveys the assurances of the commitment of the society to entail them with the level of customer service they have to come to anticipate taking into consideration the voting in by Britannia's members for three consecutive years. (Britannia Building Society selects Alterian, MDB and MarkIT)

In May 2001, the Alterian Pic, Marketing Database -- MDB and Mark IT announced the joint projects to strengthen further development of the analytical base that the Britannia Building Society acclaims in terms of its improved customer relationships management program. The objective behind the formulation of joint project is to integrate the customer analysis with campaign management. Britannia already possesses a huge amount of data on purchase behavior and the interaction of the members with the branch. The joint project aims at complete prospective realization of the data. The CRM Department of Britannia is optimistic about the outcome of such joint projects particularly, the advanced technology of Alterian database technology that is extremely useful along with its ability to manage vast quantities of data. (Britannia Building Society selects Alterian, MDB and MarkIT).....

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