Study On Customer Relationship Management Of Changsha Branch Of CITIC Bank

Nowadays finance is a popular industry with tremendous profit. Many banks mayexperience a life and death test in the future under multiple impacts brought by thedecreasing growth of the economy, interest rate marketization, and theimplementation of the deposit insurance system. An important development trend ofinternational banking is that the importance of retail banking continues to grow andthe retail banking accounts more than60%of the total income in the leadinginternational bank. Retail banking is attracting unprecedented attention from largecommercial banks. At present, both domestic and foreign banks have built customerrelationship management systems. However, domestic banks mainly focus oninformation system, with relative lag in the concept and management. With the adventof economic globalization, e-commerce and the big-data era, the world comes into anera of "customer specified rules". Customer relationship management will berenovated by means of advanced technology.CITIC Bank is a commercial bank with its core business on wholesale banking.In order to face the fierce competition in the market, CITIC Bank has speeded up theretail business transformation since2013, with the grand goal of achieving the equalbalance of retail banking and the wholesale banking within3-5years. However, thereality of the retail business of CITIC is high input with low output and high customerchurn rate. A bottleneck will be encountered in development of retail banking.Although leaders at all levels have been aware of the customer is the strategicresources of the bank, customer relationship management has not been formed into acomplete system. Therefore, this thesis investigates the management of the personalcustomer relationship of the Changsha Branch of CITIC Bank, based on the theory ofthe customer relationship management (CRM), and develops the customer valueanalysis model. The study categorizes the personal customers of the Changsha Branchinto four groups and accordingly proposes four types of marketing strategies:customizing marketing, differential marketing, cross marketing and channelmarketing. It is believed that these strategies should be implemented according to thecharacteristics of the customs. A series of methods is also proposed to guarantee aproper implementation of the CRM from the aspects of enterprise culture,organization structure, human resource, information system and channel construction. The proposed scheme, targeted at Changsha Branch of the CITIC Bank, w ill notonly be of practical significance to its proper implementation of CRM but alsoprovide guidance to its counterparts with similar management mechanisms, operatingmodels, and internal and external environments.