CRM IN ICICI

BANK

Ravi Jagannath Sharma

Retail Management 3rd Sem
University of Lucknow
 ICICI BANK
 ICICI was set up as a development bank to
provide products and services for the
corporate segment.
 It diversified into the retail segment of the
financial markets in the early 1990s while
transforming itself into a technology
intensive financial service group.
 In the mid-nineties, ICICI raised debt from
the retail market.
 Since then it has been trying to
increase its reach to this segment by
mobilizing resources and offering
quality investor service through ICICI
Infotech Services, a subsidiary of
ICICI.
 In 1994, it established ICICI Bank as
a commercial bank that is flexible,
innovative and prompt in meeting
customer requirements.
 It also offers other retail initiatives
such as personal services, capital
 ICICI- RETAIL STRATEGY
 ICICI’s retail strategy was centred
around intensive deployment of
technology to help reduce cost of
service, increase customer retention,
help in cross selling and up-selling
while improving process efficiencies.
 The bank looked towards allowing
the customers use multiple electronic
channels including internet, ATMs,
call centers, contact centers,
desktops, kiosks, mobiles and other
hand held devices for conducting
financial transactions.
 CRM- THE ICICI
EXPERIENCE
 CRM at ICICI involves increased
communication between the virtual
universal bank and its customers and
prospects as well as within the group
itself.
 The underlying idea is to enhance
every instance of contact with the
customer.
 ICICI believes that a true customer-
centric relationship can only be
accomplished by considering the
 CRM ROAD MAP OF ICICI
 CRM is viewed as a discipline as well as a set of
discrete software technologies, which will focus
on automating and improving the business
processes associated with managing customer
relationships in the areas of sales, marketing,
customer service and support.
 The organizations aims to achieve the end goal of
one-to-one marketing.
 The CRM Software applications will facilitate the
coordination of multiple business functions.
 Coordinate multiple channels of communication
with the customer to carry out customer
management more efficiently.
 It should allow ICICI to engage in one-to-
one marketing by tracking complete
customer life-cycle history.
 To begin with, it will automate process-
flow tracking in the product sales process,
and be able to generate customized
reports and promote cross selling.
 It will also enable efficient campaign
management by providing a software
interface for definition, tracking, execution
and analysis of campaigns.
THE CRM BUSINESS
CYCLE
 COMPONENTS OF CRM
CYCLE
 Understand and Differentiate.
 Develop and Customise.

 Interact and Deliver.

 Acquire and Retain.

 Understand and
Differentiate
 Organisations need to understand their
customers in order to have a relationship
with them.
 Profiling to understand demographics,
purchase patterns and channel
preference.
 Primary research to capture needs and
attitude.
 Customer valuation to understand
profitability, as well as lifetime value or
long-term potential.
 The ICICI Group’s customers need to see
that the firm is differentiating service and
communications, based on their learning
independently and on the customer
 Develop and Customise
 In a customer-focused world, product and
channel development has to follow the
customer’s lead, identify customer’s
wants, determine the value and desire of
the customer, etc.
 Organizations are increasingly developing
products and services, and even new
channels based on customer needs and
service expectations.
 ICICI believes that the extent of
customization should be based on the
potential value delivered by the customer
segment.
 Interact and Deliver
 To foster relationships, organizations need to
insure that:
 All areas of the organization have easy access
to relevant, actionable customer information.
 All areas are trained how to use customer
information to tailor interactions based on both
customer needs potential customer value.

 ICICI is strongly of the opinion that value is not

just based on the price of the product or the
discounts offered but are based on a number of
factors including the quality of products and
services, convenience, speed, ease of use,
responsiveness, and service excellence.
 Acquire and Retain
 The more ICICI learns about customers,
the easier it is to pinpoint those that are
producing the greatest value for the
organization.
 They aim to continue to learn more about
each customer segment and use it for
successful customer retention.
 As ICICI moves step further in CRM they
hopes to gain insight and understanding
that enhance the subsequent efforts. The
organization shall become increasingly
sophisticated in the implementation of
CRM processes, and over a period of time
shall become increasingly profitable by
doing so.
 Successful customer retention is based on
the organization's ability to constantly
deliver, based on three principles:
 Maintain interaction; never stop
listening.
 Continue to deliver on the customer’s
definition of value.
 Customers change as they move
through differing stages of their lives,
which implies that the firm needs to be
alert for changes and to modify its
services and value propositions as they
change.
 IMPLEMENTING CRM
 There are five interrelated areas:
 Business Focus.
 Organizational Structure.
 Business Metrics.
 Marketing Focus.
 Technology.
 The key to building the CRM action plan was in
understanding with the organization that stood
relative to each of the five aspects of change.
 Interviews with key individuals throughout the
organization helped identify different initiatives
that have been launched, all focused on CRM.
 The next step in the process was a
‘Gap Analysis’, this analysis helped
identify the CRM organizational
holes:
 Marketing, sales and service practices.
 Collection, capture, processing and
deployment of customer information.
 Distribution and operations
effectiveness at customer touch points.
THANK YOU