Working Profile of Customer Relationship Manager that you should know
Perhaps, You are aware of the relationship manager job profile introduced in Banking sector. But, the responsibilities and role of customer relationship management in banking that you don’t care about. To know more click here..
Customer Relationship Management, better known as the CRM, is a term that relates to the various practices and strategies taken up by commercial companies to manage and analyze their customer interactions and record their choices depending upon various factors. The goal of such studies of customers is to build the business relations even stronger and make them re-appear to the particular company. In the banking sector, the customer relations management has grown steadfast. Which was initially practiced in the private banking sector, in order to keep the belief of the customer in their respective banks, has spread to the public sector banks as well. In the competitive financial market and increasing number of banks in the country like India, it has become very important to analyze their customer requirements and strengthen their relationships to continue grow in the business. The customer relations management learns more about their target audiences and finds out how to cater to the needs of the people in the market. Though, there are cases registered when the banks try to take the favoritism path, making their customer annoyed and leading to dissatisfaction with the result. Thus, the banking sector in India is recruiting, customer relations managers for the private and public sector banks advertently.
Jobs & Responsibilities of CR Manager
The Customer Relationship Manager in the banking sector is responsible primarily for
- Building and management of customer relationships with the organization concerned. The development of the relationship takes place in various phases, which needs to be controlled by the relationship manager.
- Dealing with the day to day customers in the bank and prioritize their demands and aspirations from the bank through observing and collecting data about them.
- The CR manager uses various marketing and management tools to maintain a steady relationship with its customers. They often use demographic data such as gender, age, income, education, etc. along with their purchasing information to validate a customer and their requirements.
- Suggesting the various schemes and policies offered by the banks that would suit their needs and make sure that the bond between them remains unaffected.
The valuable customer giving suitable business to the banks, are given special care and attention by the CR Managers in the banking sectors.
Recruitment of CR Managers in banks
Most of the private banks in the country take out employment notification regarding the customer relationship manager periodically. The increasing number of branches opening up in various rural and semi-urban places around the country has resulted into increasing number of vacancies for the post. A few reputed public sector banks now also recruit the customer relationship managers through giving public notification in their websites from time to time. The candidates must look for the opportunity in online and offline services available. Mostly, the banks look for Graduate candidates in any stream for the position. Those candidates who have MBA/PGDM from any recognized university are given preference for the post. Those candidates fulfilling the eligibility criteria can apply for the posts and get selected through the personal interview round conducted by the relevant banks. The salary of the candidates depends upon the bank profile and experience of the candidates.
Measurement of performance of CR Managers
The Customer Relationship managers undergo evaluation process of the work done by them. The measurements of performance of CR managers are made through the business that they generated for the particular bank. They are often given a client base on which they need to work on and make sure that the business of the banks hit the right notes. The performances of CR managers are evaluated through the schemes, policies and money invested into the bank by their relevant customers. Some of the banks often arranges for feedback forms from the customers to analyze the performance of the CR managers.
Promotion Policy of CRMs
The customer relationship managers are analyzed through their performance in the banks that they work for. The option for getting higher salaries increases with each shift in the banks made by the candidates. Though the initial salary offered to the Customer Relationship Manager in various banks is quite less, it can grow further up with the better performances. They can even rise up in the ranks to become the Relationship Officer and area customer relationship managers in a few years of their services.