Study On Credit Card Marketing Strategies Based On Customoer Relationship Management System

These days, CRM (Customer Relationship Management) system is widely applied in the financial and service industry. This wide application is mainly accelerated by the economic globalization, competitions of the financial market, technological innovations, developments in the bank management and operation. Financial organizations are now considering CRM as a strategy, which helps ameliorating customer value by integrating customer information resources; improving customer satisfaction and loyalty by providing more economic, convenient and adaptive products and services; and finally realizing the maximum profit for the organization itself.As China has joined the WTO (World Trade Organization) and its financial market is opening for the foreign financial organizations, the credit card market has become the first choice when foreign banks enter into the Chinese market. Thus our local commercial banks are facing severe competitions. In this context, how to fix potential target customers; how to understand customer consumption characters from exchanges and then conduct different marketing operations; how to set up risk alert system are the crucial challenges confronted with card issuing banks. With advanced data warehouse and data dig technologies, CRM system can analyze the needs, exchanges modes, opportunities, risks and costs related with current and potential customers, thus increase credit card business's benefit in maximum. Therefore, establishing CRM system and providing strong analyzing function are exigent for credit card business'development of commercial banks.In this context, this dissertation first reviewed and summarized systematically the meaning of CRM and related theories; then compared foreign credit card business'development and status quo with that of China; evaluated domestic credit card business'development environment and explained why its profit making ability was relatively low; and then analyzed the necessity and significances of implementing CRM system in commercial banks'credit card business.After that, the thesis pointed out that using credit card CRM system to resolve marketing operational problems should: identify customers basing on CRM customer database; classify customers through models built by data digging technology; interact with customers and understand their needs through multi-channels supported by CRM system; provide relevant products and services based on their needs and realize"one-to-one"service; fix reasonable interest rate according to customer reactions to different overdraft interests; combine different promotion techniques in order to transform potential customers into real card users and improve their loyalty by additional services and favorable measures. Finally, combined with the case of Bank of China of Chang Zhou, the thesis designed the CRM system structure and functions for commercial banks'credit card business, and concluded the CRM system's practical applications in credit card marketing operations. Thereby provided theoretical groundwork and policy reference for our commercial banks, and enabled them to obtain competitive advantages and long-term developments in the dog-eat-dog credit card market.