The Study On Customer Retention Strategy Of Commercial Bank

In face of a fiercely competitive financial market,major banks start to apply diversification strategies and customer resources become an important target that all companies compete for.It is crucial for companies to master customer resources and maintain customer stickiness and dependence.Despite excellent performance in daily operation,the A Branch of Y Bank,as its business grows,still has some problems including the risk of customer churn and the dilemma in reactivating customers.In this context,the present study intends to investigate how the A Branch of Y Bank optimizes its process of customer retention and maintenance in such a diversified financial market,so as to stabilize customer resources and increase customer stickiness.The A Branch of Y Bank was selected as the object of study.A research framework consisting of customer identification,customer conversion and customer retention was established.The methods such as desktop research and in-depth interviews were applied.Relevant literature were summarized.A reasonable interview plan was designed to interview the staff in front office,middle office and back office one by one.The problems in business products,enterprise services,organizational structure,technical support,customers and external environment were summarized for the A Branch of Y Bank by investigating internal staff,the existing customers and the lost customers.Specific optimization plans were put forward for solving the problems,in an effort to find an optimization path for customer retention system in line with the characteristics of the banking industry.Based on the research in this paper,the following important conclusions are drawn: competition loss,natural loss and retaliatory passive loss exist in the customer identification of bank Y branch A.The reasons for these problems are due to the enterprise's weak innovation ability,insufficient personnel quality and unreasonable organizational configuration.Furthermore,it is necessary to optimize the customer retention,and put forward optimization strategies through product innovation,service care,personnel optimization,platform information integration,Identify customer risk training and other aspects.It can be used for reference to optimize the customer maintenance system in the same industry.