Research On Customer Relationship Managemnt Of HX Fund Corporation Personal Financial Centers

With the gradual opening up of China’s financial markets, the competition among thefund corporations is increasingly intense. Future competition in the field of the Fund willclosely focus on customers, especially the scarce resources of quality customers. However,customer resource management is really the downside of China’s fund companies. The fundcompanies are holding a large number of customers, but it is difficult to make rational use ofthose resources for their intrinsic value, the CRM in the majority of domestic fundcorporations is just a mere formality, this problem is quite thought-provoking. It is imperativeto use CRM system to precisely respond to the competition for customer resources in thefuture. CRM is based on computer technology and platform, through the reorganization of theFund business processes to integrate customer information resources, using scientific andeffective methods to manage customer relationships, in order to achieving the effective way toshare of information and resources within the fund corporation, therefore reducing the fundcorporation operating costs, to attract customers by providing customers with more economic,efficient and thoughtful products and services, and ultimately to maximize the value of thefund corporation.The main contents of this paper include:The first chapter highlights the background and significance of this paper. Because ofsome factors, such as profitability, intense competition, the development of electronicinformation technology, change in the way of trading and changes in customer demand, theimplementation of effective customer relationship management strategy is the inevitablechoice of fund companies in the long-term development.The second chapter states the origins and concepts of customer relationship marketing.The core idea of implementation CRM is to manage the various relationships betweenenterprises and customers comprehensively, aiming at achieving the maximum value ofcustomer resources. CRM theory considers that products or services possess value only withcustomers’ uses, in that way, the company and customers can achieve their own objectives.The real sources of profit are the customers, instead of the products or services. The third chapter introduces the development stages and current situation of thecustomer relationship in HX Fund Company Personal Financial Centers, including HX FundCompany Profile, the development stages, current situation analysis, the current situation ofthe customer management;The fourth chapter describes the advantages and the existing problems in CRM of HXfund company personal financial centers.The fifth chapter comes up with some suggestions for the existing problems that arementioned in chapter4and two implementation strategies for the obstacles encountered in theprocess to implement those suggestions. A model of “Fund Company–Customersinteractions” is proposed in this paper.Chapter6concludes a summary and proposes some possible further researches.From a practical point of view, on the basis of the analysis of the HX fund customerrelationship management situation, this paper puts forward some following suggestions forimprovement:(1) The real source of profit is the customers, rather than the product or service itself.Customer resource is the most important capital of the fund company.(2) The introduction of customer relationship management system can improve the corecompetitiveness of the fund company. At this stage, China’s fund companies learn from theWest experience, using CRM to improve the core competitiveness.(3) The problems in the HX fund CRM can be divided into two categories: one categoryis involved directly to individual customers for the problems in the management called thefront desk activities, including marketing services, customer analysis, three aspects of theclient system; the other is called back-desk activities to support the implementation ofindividual CRM process, including organization structure, two aspects of client managerssystem.(4) In response to those questions, some suggestions for improvement are proposed. HXfund companies personal financial centers implement improvement measures to adhere to thefollowing major principles: to experience a win-win strategy; to build a sustainable profitmodel; to enhance the core competitiveness of the financial centers.The following recommendations were made on the above basic principles: providemulti-channel services and focus on the maintenance of old customers, maintain goodcustomer regeneration, establish a unified customer database, pay attention on theconstruction of the client manager system. A model of “Fund Company–Customersinteractions” is proposed in this paper. The stage of the interaction of customers and fundcompanies is divided into four stages: attract customers, customer satisfaction, customer loyalty and loss of customers. The model considers that the relationship is established on thecustomer satisfaction, in other words, there is marketing process as a means to dealtransactions before the CRM.(5)Two suggestions for effective implementation: first, change management concepts,enhance learning, and establish the business philosophy of CRM; second, develope-commerce is a good way of long-term development.With the limitation of study conditions, the paper extensive use of the method ofqualitative analysis, logical reasoning and inductive theory, but further study is necessary toput theory into practice.