Country Effects on CRM Success

Abstract

Customer relationship management (CRM) adoption is growing at a dramatic pace in firms and is significantly impacting customer and business market behaviors. As a result, most firms have started developing and implementing CRM strategies. However, country effects on CRM strategy outcomes in international environments have not been discussed and are the focus of this paper. In this paper, we examine the impacts of marketing infrastructure and marketing institutions on the development of CRM strategies and success in the implementation of such strategies. Our framework has utility in understanding the impacts of country-specific factors in the outcomes of CRM Strategy.     

论商业银行的客户关系管理

在市场竞争日益激烈的今天,客户成为商业银行的战略性资源。银行实施客户关系管理(CRM)有利于与客户建立长期的良好关系,避免重要客户的流失,提高客户满意度,从而实现银行利润最大化。所以有必要从细分客户、“一对一”差别化服务以及创办“特色银行”等三个方面来讨论我国国有商业银行实践CRM需要注意的问题。     

Managing Customer Relations in a Modern Business Environment: Towards an Ecosystem-Based Sustainable CRM Model

The adoption of Customer Relationship Management (CRM) has witnessed tremendous growth across sectors, geographies, and management cultures in the last several decades. The perception of CRM as an IT-based tool has undergone a paradigm shift and is now treated as a strategic indulgence by modern-day businesses where IT is an indispensable enabler. CRM has garnered the interest of both academicians and practitioners over the years. In this article, the authors establish the value of sustainability in CRM and make an attempt at proposing a conceptual framework for modern businesses through its integration with various social networking sites that produces volumes of real-time data. The article also explores the importance of Customer Experience Management (CEM). The authors provide a thorough investigation of CRM models in the period of 1990 to 2016 through a survey of the literature explaining the need for managing experiences and engagement around existing CRM processes. In addition to exploring the intricate relationship between CRM and CEM, the authors also provide an interactive ecosystem-based framework for the creation of a sustainable CRM framework.     

认识CRM--企业实施CRM的一个战略问题

本文认为,CRM即客户关系管理是一种倡导以客户为中心的企业经营管理思想.它强调与客户的沟通,一方面获取客户信息,经过整理、加工、分析和研究提取与客户关系有关的知识;另一方面运用这些知识,产生正确的决策,并展开有效的行动.通过有目的地影响企业与目标客户的关系从而影响客户的购买行为,最终实现提高客户获得、客户保留、客户忠诚和客户创利的目的.     

The Recent Expansion of Foreign Banks in Brazil: First Results

ABSTRACT

Current empirical literature concerning the activities of foreign banks exhibits some degree of consensus around the thesis that foreign banks are less efficient than domestic banks in the case of industrial countries, but that they are more efficient than domestic institutions in emerging economies. The reasons for such phenomena include the exposure to tougher competition in industrial countries, adoption of better management methods, the tendency to develop new products and technologies, and the influence of better-equipped regulators. The paper examines these claims in light of recent Brazilian experience. It is shown that, at least in the case of Brazil, the expansion of foreign bank activities in the domestic markets has not resulted in any major improvement. Operational characteristics are similar for domestic and foreign banks, as are efficiency measures. Technical progress has been introduced by domestic banks, particularly in the fields of automation and online banking, much more intensively than by foreign banks. Balance sheet structures are very similar for both groups, dominated by interfinancial operations and by investment in securities. Thus, there is no evidence that the generally accepted thesis mentioned above applies to Brazil.

RESUMEN. La actual literatura empírica sobre las actividades de los bancos extranjeros muestra un cierto grado de consenso sobre la tesis de que los bancos extranjeros son menos eficientes que los bancos domésticos en el caso de los países industrializados, pero son más eficientes que las instituciones domésticas en las economías emergentes. Las razonas para este fenómeno incluyen la exposición a una competencia mucho más agresiva en los países industriales, la adopción de mejores métodos administrativos, la tendencia de desarrollar nuevos productos y tecnologías, y la influencia ejercida por reguladores mejor equipados. El documento examina estas aseveraciones a la luz de la reciente experiencia brasileña. Queda demostrado que, por lo menos en el caso de Brasil, la expansión de las actividades de los bancos extranjeros en los mercados domésticos no ha resultado en ninguna mejoría considerable. Las características operativas son similares para los bancos domésticos y extranjeros, así como lo son las medidas eficientes. El progreso técnico ha sido introducido por los bancos domésticos, especialmente en el campo de la automación y operaciones bancarias en línea, mucho más intensivamente que por los bancos extranjeros. Las estructuras de los balances son muy similares en ambos grupos, dominados por las operaciones interfinancieras y por la inversión en la bolsa. Por ende, no existe prueba alguna que la supramencionada tesis generalmente aceptada se aplica en el Brasil.

RESUMO. A atual literatura empírica sobre as atividades dos bancos estrangeiros apresenta um certo grau de consenso no que diz respeito à tese de que os bancos estrangeiros são menos eficientes do que os bancos nacionais, no caso de países industrializados, mas que são mais eficientes do que as instituiç[otilde]es nacionais nas economias emergentes. As raz[otilde]es para tal fenômeno incluem a exposição à competição mais intensa em países industrializados, adoção de melhores métodos de gestão, tendência para desenvolver novos produtos e novas tecnologias e a influência de reguladores mais bem equipados. O estudo examina estas raz[otilde]es à luz da recente experiência brasileira, mostrando que, pelo menos no caso do Brasil, a expansão das atividades dos bancos estrangeiros no mercado nacional não resultou em qualquer grande melhoria. As características operacionais são semelhantes nos bancos nacionais e nos estrangeiros, da mesma forma que as medidas de eficiência. O progresso técnico foi introduzido pelos bancos nacionais, particularmente no campo da automação e dos serviços on-line, com mais vigor do que pelos bancos estrangeiros. A estrutura do balanço é bem parecida em ambos os grupos, dominada pelas operaç[otilde]es interbancárias e pelas aplicaç[otilde]es em títulos. Portanto, não há evidência de que a tese mencionada, geralmente aceita, aplica-se ao Brasil.     

Impact of CRM technology on sales process behaviors: empirical results from US,Europe, and Asia

Purpose: The diffusion of customer relationship management (CRM) systems across the globe, over the last decade, has created a need to improve the understanding of the impact of technology on the sales process from a global perspective. The authors examine how CRM technology impacts the sales process (creating opportunity, managing opportunity, and managing relationships) in three regions of the world (US, Europe, and Asia).

Methodology/Approach: The differences among US respondents (n = 789), European respondents (n = 327), and Asian respondents (n = 91) were explored. A multivariate analysis of variance (MANOVA) was conducted on creating opportunity, managing opportunity, and managing relationships, with dichotomized CRM effectiveness and geography (US/Europe/Asia) as factors.

Findings: The MANOVA revealed a significant influence of CRM effectiveness, but a non-significance for geography and a non-significance for the interaction between CRM effectiveness and geography. This pattern of results suggests that CRM effectiveness leads to significant differences in sales processes; however, these influences are not qualified by the geography to which the firm belongs. Ensuing univariate Analysis of Varirances (ANOVAs) revealed a significant influence of CRM effectiveness on creating opportunity, managing opportunity, and managing relationships, but not for firm–geography or its interaction with CRM effectiveness. Post hoc tests revealed that firms high on CRM effectiveness were better at creating opportunity, managing opportunity, and managing relationships. Differences in CRM effectiveness lead to significant differences in sales processes; however, these influences once again are not qualified by the geography to which the firms belong.

Originality/Value Contribution: This study provides several contributions to the stream of research focused on CRM globally. First, due to globalization, CRM use and process can be more standardized across regions and cultures. With the evolution of technology such as Web 2.0 and cloud computing, barriers to communicating and exchanging information, regardless of time zone or location, have been decreased. A US firm’s use of a CRM platform can essentially capture the same information on a client that a firm in Europe or Asia also manages. CRM’s ultimate measure of success is for the buyer–seller relationship process to positively impact the level of business conducted.     

CRM:企业营销管理的新策略

在激烈的市场竞争中,越来越多的企业开始通过实施客户关系管理(CRM)来赢得更多的客户并且提高客户的忠诚度。本文认为,客户关系管理(CRM)作为企业营销管理的新策略,其目的在于建立一个系统,使企业在客户服务、市场竞争、销售和支持等各方面形成全新的关系实体,为企业带来长久的竞争优势,一方面通过优质服务吸引和保持更多的客户;另一方面通过对企业业务流程的全面管理降低企业成本。CRM与ERP(企业资源规划)、SCM(供应链管理)一起,已成为现代企业提高竞争力的三大法宝。     

Social media technology usage and customer relationship performance: A capabilities-based examination of social CRM

This study examines how social media technology usage and customer-centric management systems contribute to a firm-level capability of social customer relationship management (CRM). Drawing from the literature in marketing, information systems, and strategic management, the first contribution of this study is the conceptualization and measurement of social CRM capability. The second key contribution is the examination of how social CRM capability is influenced by both customer-centric management systems and social media technologies. These two resources are found to have an interactive effect on the formation of a firm-level capability that is shown to positively relate to customer relationship performance. The study analyzes data from 308 organizations using a structural equation modeling approach.     

我国金融企业实施CRM的对策研究

随着经济一体化、金融国际化的不断深入,我国金融企业面临着日益加剧的国内外双重竞争。以客户为中心,在激烈的竞争中赢得和留住客户,并充分利用这些宝贵的客户资源,形成自己的竞争优势,已成为各金融企业竞争成败的关键。因此,对我国金融企业实施CRM的动因进行分析研究,并制定出相应的实施对策,可以确保我国金融企业在激烈的市场竞争中培育其核心竞争力,获得持久的竞争优势,提高其经济效益。     

Corporate brand image in retail banking: development and validation of a scale

Recent changes in deregulation and technology have made banking one of the most competitive sectors in the global economy. Within this background, corporate image management has gained importance as a way of differentiating companies. This paper aims to develop a scale to analyse the corporate image in banking. Derived from a review of the literature, a scale with the most cited dimensions of analysis is developed. This scale is then tested by means of an empirical study of 450 individuals, where dimensionality, reliability and validity requirements are confirmed. Both theoretical and managerial implications are presented.     

Strategic Use of Analytical CRM in a Market with Network Effects and Switching Costs: Terminating Unprofitable Customer Relationships

Analytical customer relationship management (CRM) systems make firms more informed than ever about their customers. This further gives firms the ability to serve customers selectively in a way that ensures retaining profitable customers and eliminating unprofitable ones. However, when firms of products/services with network effects decide to eliminate unprofitable customers, they may face the risk associated with firing them, which is user-based shrinkage. This risk incurred as a result of network effects has been widely neglected in CRM literature. In this study, considering this risk, we investigate when firms can eliminate unprofitable customers in the competitive market with network effects and consumer switching costs, which often co-exist with network effects, using a game-theoretic model of a duopoly. Our results show that it is not desirable for firms to fire unprofitable customers in the presence of strong network effects or sufficiently low consumer-switching costs. Otherwise, firms can fire unprofitable customers and benefit from the ability to eliminate them. An interesting point is that competing firms can be better off when both have the ability to eliminate unprofitable customers in the presence of moderate switching costs and small network effects.     

The CRM process in retail and service sector firms in Japan: Loyalty development and financial return

Research on customer relationship management (CRM) in general has focused on the effects of customer satisfaction with CRM, customer retention and profit management, and the effects of CRM technique on performance. Conceptually, however, a sequence of effects of CRM is expected, from CRM implementation to financial performance, but this sequence has not been explored. Whilst several definitions of CRM have been proposed, this article defines CRM as relationship-development programmes based on IT. CRM is regarded as the integration of relationship technology (i.e. data consolidating and data mining) with loyalty schemes. Survey research was conducted in Japan in the retail and service industries to test three hypotheses: (1) a firm's relationship orientation has a positive effect on CRM implementation (data warehousing, data mining, using customer data for decision making); (2) CRM implementation has a positive effect on return on equity; and (3) CRM implementation has an indirect effect on return on equity, mediated by customisation. Using a structural equation model the first hypothesis was supported, but the third hypothesis was only partially supported. In these analyses a direct effect of CRM implementation on return on equity (ROE) was supported; however, a negative impact of customisation on ROE was found.     

客户关系管理绩效评估矩阵及相对绩效矩阵的应用

文章阐述了绩效评估矩阵和相对绩效矩阵理论,并举例分析在客户关系管理实务中如何运用该工具发现企业在客户服务中存在的主要问题及不足,以及应采取的经营策略,为企业建立科学的客户服务绩效评价体系、提高客户满意度提供了有益的探讨。     

Operations in banking: the service quality and effects on satisfaction and loyalty

This paper studies the service quality provided by the banks. The objectives are (i) to identify which aspects of the transactions carried out by the banks are important for the service quality perceived by the customers, taking into account some aspects that are sometimes ignored (online channels) and (ii) to observe how service quality influences customer satisfaction and how customer satisfaction affects the loyalty towards the bank. Using a factor analysis, the research identifies the operative, physical, new technologies and human factors. Next, using structural equations models with AMOS, the results show an influence of the operative aspects and the new technologies on service quality, as well as the confirmation of quality as a precedent to customer satisfaction, and how such satisfaction influences on customer's loyalty towards the bank.     

A framework for customer relationship management strategy orientation support in higher education institutions

ABSTRACT

A number of generic Customer Relationship Management (CRM) implementation frameworks have been developed, yet no systematic framework has been developed to help HEIs orientate CRM strategy to align with university business strategies and stakeholder needs. This research iteratively develops the CRM Strategy Orientation Support (CRM-SOS) framework, which aims to support HEIs in orientating their strategic CRM system at the pre-implementation stage and align CRM strategy with the business strategy; thus, reducing the chance that HEIs will experience CRM implementation failure. To reach our proposed CRM-SOS framework, we employed Design Science Research (DSR) methodology steps by analysing UK HEIs specific CRM implementation case studies, conducting semi-structured HEIs-based interviews, followed by evaluation of the resulted framework by HEI Information Systems (IS) experts. We concluded with a new CRM-SOS framework for HEIs consisting of five stages. The framework can be used to personalise the stages until they fit the strategic outputs and match the top management KPIs. Although existing research agrees that intensive attention should be given to CRM planning, there is no consensus or developed framework, for use within HEIs, demonstrating how CRM strategy can be orientated to align with university strategies and customer needs.     

基于三维客户分类价值体系的客户关系管理研究

针对基于客户价值矩阵的客户类型划分方法的不足，本文提出三维价值评价体系，除客户价值和客户潜在价值之外，将企业自身相对优势作为第三个变量指标，并通过模糊综合评价判断出各指标的价值高低，借助三维价值体系图，将客户分为八类，同时本文针对这八类客户的不同特征，提出了相应的资源配置及价值提升策略，从而帮助企业培养更强的客户导向意识，引导企业业绩改善的方向。     

Factors for Success in Customer Relationship Management (CRM) Systems

The importance of effective customer relationships as a key to customer value and hence shareholder value is widely emphasised. In order to enhance these relationships, the application of IT to marketing through customer relationship management (CRM) software, e-commerce and other initiatives is growing rapidly. This study examines the factors that influence the successful deployment of CRM applications, with particular emphasis on those factors which are distinct from other areas of application. Using the analytic induction method, success factors were derived from five in-depth case studies. Resulting factors underemphasised in previous literature include: the need for project approval procedures which allow for uncertainty; the need to leverage models of best practice; the importance of prototyping new processes, not just IT; and the need to manage for the delivery of the intended benefits, rather than just implementing the original specification.     

Success and Internationalization: Analysis of the Textile Sector

ABSTRACT

The aim of the present paper is to investigate the relationship between business success and international involvement by examining international enterprises to see if they are more successful. To do this, 154 general managers in the textile sector were interviewed on two main groups of questions: (i) entry forms when going abroad; (ii) business results (sales, profit etc.) and competitive indicators (loyalty, satisfaction, image etc.) obtained.     

Banking is essential,banks are not. The future of financial intermediation in the age of the Internet

This paper examines the question how the future of financial intermediaries and banks as special financial intermediaries may look like in the age of the Internet. The reduction of transaction costs caused by the Internet will reduce the barriers to enter the market for financial products, because there may be no longer a need to run a large system of cost-intensive branches. But as closer examination of the functions of financial intermediaries shows, not everybody can sell and distribute financial products. This is true because of asymmetric information problems in financial business which require an intermediary with a good reputation and because of the need to keep large funds of capital to transform the risk of assets. Both requirements represent an important barrier to enter the market for financial intermediation. Not every financial product will be exposed to more competition due to the rise of the Internet but only products which are standardized and have a low risk. Moreover, large firms with high amounts of capital and a good reputation can be considered as new competitors for banks.     

Perceived quality and image: When all is not “rosy”

The “meaning” of a brand resides in the minds of consumers, based on what they have learned, felt, seen, and heard over time. This study explores the relationship between quality and image with special attention on brands plagued with negative impressions, including instances where consumers' perceptions of a product's quality conflict with its perceived “image”. Data confirm that quality and image impact attitudes in a distinct manner, and overall, low brand image is more damaging than low quality. In addition, findings show that (1) hedonic attitudes towards brands are most driven by image, whereas utilitarian attitude formation/change processes are dominated by quality, (2) non-attribute brand beliefs are a stronger predictor of hedonic attitudes when quality or image is low versus high, while (3) attribute-based beliefs are strong predictors of utilitarian attitudes across image and quality levels.