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CRM

CRM. Using information about customers to create operations strategies that develop and sustain desirable customer relationships. Case 5: RBC Financial Group: CRM (#9-102-072). What would you rate as opportunities, threats, weaknesses, and strengths of RBC?

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CRM

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  1. CRM Using information about customers to create operations strategies that develop and sustain desirable customer relationships

  2. Case 5: RBC Financial Group: CRM (#9-102-072) • What would you rate as opportunities, threats, weaknesses, and strengths of RBC? • If you were to implement CRM systems, what would be the most important factors to consider? • What other strategic recommendations would you make to RBC top management teams?

  3. a) • Answer is varied

  4. b) • Model answer is shown in next slide

  5. Perception of the Bank Customers’ needs change as they go through their life cycle. RBC stays on top of the life changes CRM is used for price and service differentiation Organizational Level Performance Indicators Data Mining Segment (Key, Growth, Prime) Client’s Needs RBC Category’s Objectives Trust Reassurance CRM Initiatives Customer Relationships Reorganization Understanding, Comfort RBC takes a long-term view as reflected in customers’ lifetime value calculations RBC appears to be moving from a product focus to a customer focus Measurement of customer profitability and potential Operational Level Performance Indicators

  6. c) • A structural approach ..

  7. CRM Components/ Programs Operations Strategy Operating Principles Segment Management Team Concept Measurement of customer profitability and potential Providing the type of service its customers would value Using information about customers to create operations strategies that develop and sustain desirable customer relationships Client Decision Engine Reorganization Keeping customers that the bank valued CRM Initiatives Data Mining

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