A critical evaluation of the impact of customer relationship management on customer satisfaction with Barclay's bank in Woolwich.

• Choose an appropriate project manager should be the first step in implementing the CRM solution. The company has to get the right people in the right place in order to make it successful.Typically IT will be engaged, however a manager with a customer service/sales and marketing business focus should be involved, as the impact of the project will be mainly on the business side. Further the company should, especially if it is in banking sector, appoint a suitable legal officer to conduct the proceedings as well
• Top management support should be taken very seriously
• Team building is of paramount importance to this particular project as the work it - self is associated with a number of people from different disciplines
• Select the correct implementation partner. They must have both vertical and horizontal business knowledge, as well as technical expertise.
• Define Key Performance Indicators that will measure the project's success
• Use a phased approach. Work towards long-term enterprise-scale implementation through a series of smaller, phased implementations

2.2 Traditional Vs Contemporary Marketing and Customer Relationship Management

There are many different companies who are in the mid of selecting a proper and most effective marketing solutions. They have basically two options as per the studies of various authors. They are traditional marketing solutions and contemporary marketing solutions. As per the traditional view - points the basic marketing strategic solutions that can be used by a typical company would include the four Ps of the marketing including product, place, price and the promotion. This very well- known marketing mix concept will enable even the smallest company to clearly position its product and/ or service in the respective target markets. But this is an old practice considering the context of the business world at the present. Therefore the companies have to look for a new option and that has become a concept based on mutual understanding between the company and its customers. As per the work of Lind green and Antioco(2005)relationships, networks, and interactions should be the new marketing concepts that should be well – balanced by the companies in order to retain existing customers and to attract potential new customers. However it is apparent that some of the companies are already using the combination of the two models.

2.3 Customer Relationship Practice in Banking Sector

There are several reasons why banks should adopt customer relations management in the future(Robert-Phelps, 2001). The same reasons have been highlighted in the below section;

1. Value of the customer hroughout the entire life cycle has become one of the fundamental criteria in deciding whether to transact with the customer in the future or not. Therefore it is of paramount important for the modern banks to set up a new system that would enable them to easily calculate the customer value propositions.
2. Secondly parallel to the customer value, customer profitability will also differ from the person to person
3. On the other hand not all the customer are going to be desired by the company in the long run. While the bank is strived to maintain a mutually beneficial relationship with some of the customers it may so happen that the rest may not reap the benefits of being a customer of the bank
4. Further differentiation of the clients based on their unique needs as well as their purchasing behaviour is of paramount importance to the bank in order to design their future sales plans

2.4 Technology and Customer Relationship Management Banking Sector

Technology is the key measure of the success of an effective customer relationship management program. Therefore the banks must put a lot of efforts in identifying their requirements for advanced techno as well as to design an effective technical system for the implementation of a company - wide CRM program. As per the studies of Hamblin (2013) it is apparent that when the companies are using advance technology in their day to day transactions with the customer then their service levels become better. As the financial service providing industry is getting bigger and much more competitive the banks need to find more and more innovative tools to reach the customer better. The most effective way to bring more customers in to the bank branches is to provide an excellent service to them. But in order to do so they need to know more about the customer in depth. The value of the customer relationship management program lies here. The banks need to understand the customer from every angle and hence they need to constantly gather a wide range of reliable information about the various dynamics of the customers. therefore from the banks point of view it is of paramount importance that the bank management is using the most up to date technology in order to obtain and analyse the recent data on customer relations. In essence the system of customer relation management is actually relies on the banks’ ability to process the relevant information for better decision making.

2.5 Commonly found Customer Relations practice in banking Sector

There are a number of customer relations management (CRM) practices that are commonly followed by almost all the banks in the world in order to improve its conditions with the customer. The below section will illustrate the same using examples.

Customer Loyalty programs

It is of paramount importance for any type of organisation to retain their old customers in to the longer time period rather than striving to acquire the new and potential customer all the time. It would be very costly as well as un – productive for almost all the organisations to constantly look for opportunities in other customer groups. Therefore especially banking sector must be very careful in dealing with their existing customers. As per the description given by Mihelis (2001) it is very important for the banks to develop new methods in order to retain their most profitable customers. One easy as well as effective ways to do this is to provide the most loyal customers with identifiable as well as better service offers. These types of service will be enabling the bank to retain these customers as the customers would not be able to get the same when they start transactions with another bank.

Data warehousing and Data mining

It is of paramount importance that the banks are focusing more and more on the value and the quality of their decision being made in relation to the customer retention. As per the studies of Berry and Linoff (2001) it is very important for the banks to collect and analyse relevant data in order to make effective decisions. Customer Relationship Management programs will allow the companies to select and analyse all sort of relevant data in order to make effective and fast decisions regarding the future relationships and networks with the customers. Therefore as per the analysis of these two authors it would be beneficialfor the banks to set up an effective yet secured system to gather and analyse data on various customer aspects such as their purchasing habits, spending habits, loyalty and savings habits etc. Customers would be coming to purchase a range of services from the retail banks such as mobile banking, internet banking, investment planning as well as finances. Therefore it is of paramount importance that the companies are collecting all these information relevant to the latest transactions that can be in turn used in making a number of decisions.

2.6 Customer Relations Management Dimensions for the banking sector

The banks can develop a very good yet secured framework for the implementation of the customer relations management practice in – house(Beckett-Camarata, 1998). The six (06) dimensions of the customer relationship management practice are asfollows;

• Customer Acquisition  - the bank has to develop a well – balance as well as effective marketing mix in order to successfully develop the existing relations with the customers
• Customer Response –the communication with the customer are of paramount importance to the very own survival of the bank and the feedback of the customers should be obtained via mail, phone as well as online. The most important fact to remember here is that the bank needs to record these responses for future reference
• Customer Knowledge – customer relationship management programs will enable the banks in understanding about their customers in depth. These systems would provide in depth information about the behaviour and the savings habits of the customer arewhich would otherwise not be available for the banks at a reasonable cost level.
• Customer Information System  - Management information systems have to be integrated with the specific customer information systems so that the banks can easily make critical decision while keeping the customer requirements in mind at all the times. On the other hand effective as well as productive information systems would be beneficial for coordinating the tasks of the sales personnel swell as operational personnel at the bank.
• Customer Value Evaluation – Each customer may be different from others in that they would deliver different amount of profits duringtheir transaction history. Therefore it is of paramount importance that the banks must analyse thehistory of almost each and every client and then evaluate their respective profitability as well as more importantly their loyalty. It is very important that the banks start treating the clients based on their individual requirements and the specific needs and interests rather than confined themselves to much generic category management. Customer relationship management practice will allow the banks to prevent from putting all the clients in to one or few categories and in turn manage them at their comfort.
• Customer Information Process – this is one of the fundamental requirements of the modern banking. The banking customers must be well capable of giving their most reliable as well as important information to the banks and in turn the banks must keep and analyse these data and information as and when they need them.

2.7 Customer Relationship Management Initiatives of Barclays Bank during the recent years

The Barclay bank is proving relationship banking services to over 80, 000 corporte cents around the globe. This year, it wanted to drive wallet share opportunities by promoting its 'Turning the Corner' scheme. Barclays took the approach that businesses like to learn from each other and share ideas with likeminded people, and to this end developed a customer relationship marketing programme with several strands.

2.8 Customer Relations Management (CRM)Solutions being provided by the company

1. Provision of the relevant and most reliable information to the customer–It is of paramount importance or the banks to maintain effective level of communication with the customer. The bank must ensure at all times that the customers are getting all sort of relevant as well as accurate and most up to date information regarding their transactions with the banks. Therefore in order to make this happen the Barclays bank initiated a new form of micro site which was run independently from its main official website in order to disseminate accurate and up to date information to all the customers. This micro site was run through the distribution of the monthly e – newsletter to the customers based on their willingness to receive one each day and then the customers were directed towards the micro site which featured a lot of articles and guidelines to help them better understand the banking operations(Barclay’s Business Case Study 2014).. The micro site discus the bank issues which are very important to the bank customers in general and also provides a platform for the customers to express their feedbacks and ideas about the service level they get from the Barclay’s bank. The customers were also given an opportunity to express their view - points regarding the issues solved by the customer and the bank’s general customer relation procedures. Further it also encouraged the customers to learn from their peers.

2. Connecting the customer with the bank–it is very important for the bank as an intermediary in the modern business world to make it easy for the people to connect with each other. The modern marketing of the financial services depend on the ability of the banks to effectively build and maintain the networks among various types of groups of customers and clients. In order to make this happen the Barclays bank initiated a new form of project. The bank selected five (05) regions at first in order to set up a new form of events for making it easy for the customers to gather and connect with each other around the United Kingdom. These five regions in the United Kingdom were Sheffield, Reading, Luton, Birmingham and Bristol and five forms of “Connect” events were organised in these regions. The customers and the business partners of the Barclay’s bank were given the chance to connect and form networks with peers and other like – minded partners and demonstrate their products and services to the potential buyers and also to share their tips and guide – lines for better business operations. It also makes it possible for the businesses to collaborate for future business opportunities. The customers were also given a chance by the company to exhibit their innovations for free of charge and as well as attend a choice of three business clinics with speakers from Barclay's  Business Support Team, Cash Management & Trade team and its own partner HR consultancy Croner(Barclay’s Business Case Study 2014).. Business gurus, management experts as well as corporate consultants do also camefor the event to share their knowledge with the participants. Barclays went on to plan and host a further six in London, Manchester, Surrey, Cambridge, Nottingham and Cardiff.

3. Working with peers for crisis management–banks essentially will have to work with the clients during their good times as well as during their bad times. The clients of the banks should get adequate financial advices from the bank especially during a finance crisis which is becoming very common now - a- days. In order to provide adequate advices on surviving the crisis it is very important for the banks to disseminate the real life examples of how other similar customers were successful in meeting these strategic transformations of the economy. In order to provide a platform for the new customer to get knowledge and to experienced customers to share their experiences the Barclays’ bank hosted a series of events named as 'Get the Inside Track'(Barclay’s Business Case Study 2014). These types of events provided the customers with the opportunity to listen to their peers and 8nderstand how these same companies were successful or un – successful in meeting with the changes in the economy and to discuss the key points with the experts who experienced real life downturn and finance crisis. The events provided an opportunity for the customers to network with like – minded people in a more professional way to discuss bout the finance down turn and to get more knowledge on the opportunities that may exist in the form of improved finances amidst a great financial crisis. Barclay’s new professional consultants would be very much interested in providing their facilitating services for these types of brainstorming sessions throughout the year.

2.9 Overview of the Secondary information

This chapter focuses on the main domains of the customer relations management. It was very clear that the customer relation management is an integral part of the modern marketing mix and will supplement rather than to substitute the traditional marketing mix concepts including the 4 Ps. The modern customer relations management practices are heavily dependent on the use of new, advanced and innovative technology. Most of the time it was revealed from the previous literature, that thecustomer relationship management programs are highly computerised and automated within the businesses. But it should be noted that the essence of the effective customer relation management system is to use the day to day information very cautiously in order to make effective and more productive decision regardingthebetter customer service. The ultimate goal of the customer relations management systems is togain customer satisfaction through the provision of the excellent service levels to all the clients. It was also revealed that the banks are heavily using various types of customer relations management programs in order to gather and analyse customer data. Analysis of accurate as well as up to date customer and sales data have been the most important tasks of the customer relations management software and as such the modern banks are using a heavy level of new and advance technology for the same.

Conclusion

This chapter studies how the customer relationship management may impact on the customer satisfaction with specific relevance to the banking sector in the United Kingdom.For illustrative purposes, the research has selected the Barclay’ bank in the United Kingdom. The chapter’ main purpose was to describe the main domains of the customer relationship management and more importance was given to study how the customer relations management program have been designed in the banking sector.The chapter also reviewed the customer relation management practices that have been adopted by the Barclay’ bank under consideration during the recentpast.

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Chapter Three

Research Methodology

3.0 Introduction

This chapter will discuss the process through which the information and the data for the purpose of research have been sought out and obtained. In addition the chapter will also discuss the main reasons for selecting the respective methods for obtaining and analysing the data and information in order to solve the research questions set in advance.

3.1 Research Design

As per the works of Saunders et al (2009) it can be stated that there are three main forms of researches that can be found in modern business context. They are termed as explanatory, exploratory as well as descriptive. Under explanatory methods the researcher is striving to explain the already recognised phenomenon. Therefore this particular research will also strive to explain the existing relationship between the customer relationship management and customer satisfaction. By doing so the researcher is expecting to add more knowledge to the existing theories.

Figure 1.1 : Research Onion

Source: Saunders et al (2009)

3.2 Research Philosophy

A research can be designed based on a number of principles. As per the descriptions of Gill and Johnson (2002) researches can be basically designed on the grounds of four main assumptions namely: positivism, intepretivism, realism as well as pragmatism. This particular research will focus on the intepretivism model. Under the intepretivism model the research is attempting to solve the research questions by putting more deep insights into the given research scenario. The intepretivism model will rely on a more subjective approach to the research work and the researcher will be able to explain in detail how and why such type o relationship do exist between the selected research variables; in this particular research the variables would be customer relationship management and customer satisfaction with specific relevance to banking sector.

3.3 Research Approach

The researches will be typically based on the two types of approaches which are named as deductive and intuitive. The deductive approach as being explained by Lancaster (2005) is appropriate when the research is based on a more quantitative analysis. Under the deductive approach the researcher is striving to test the accuracy and the validity of a number of key hypotheses that have been set in advance for a particular research. The researcher is striving to generalise on the theories that were set under the given context with the use of a range of quantitative research analysis. On the other hand as per the works of Easterby-Smithet al (2001) the intuitive approach for a particular research will be based on the qualitative works. Therefore under the intuitive research the researcher is striving to put in depth insight in to the phenomenon that is already being set under the given topics. The main aim of the researcher under the intuitive research is to develop new theories.

Since this particular research is based on the explanatory research it would be appropriate to select the deductive approach to the research. Under this particular approach the researcher will be able to test the given hypotheses and then to ensure whether there is any sort of relationship between the key selected variables; customer relationship management and the customer satisfaction level.

3.4 Research Strategy

The researcher, once the research approach has been selected then the research strategy has to be selected. Research strategy will show how the research methodology would be put in to action. There are several different research strategies that can be used by the researcher and these may include a wide range of methods such as case studies, survey, experiment, ground research, action research, ethnography as well as archival research work. As per the explanation of Robson (2002) research strategy will show how the researcher is striving to systematically solve the research questions by effective data collection and analysis methods.

Since this research work is based on a more quantitative approach the research must opt for a research strategy such as survey and interviews. It will make it easy for the researcher to get more relevant information from the customers if the research is featuring a well – composed interview and/ or survey questionnaires. Further since this is more specifically related to the customers’ opinions the use of case studies and observations will provide less reliable and effective information and results.

3.5 Data Collection

There are two types of data and information that has to be considered while preparing for the research work. They are primary and secondary sources of information. As per the analysis of Saunders et al (2009) there are several types of sources of information that a researcher can use in his/ her research project. Under primary research information sources the researcher is attempting to collect information directly from the sources on his/ her own. Primary information can be collected from interviews, questionnaires, observation etc. Primary information is a good source of feedback of the respondents. This gives the researcher with an opportunity to directly test the theory and to gain some practical experience in to the chosen research context. Secondary sources of information can be collected from previous literature, books, manuals, websites as well as through journal articles. This particular research will be based on a quantitative analysis of the customer feedback about the customer relations principles of the Barclays bank. The survey method has been utilized since it is the easiest method to get the feedback from the customers. Further a range of secondary information has also been collected to enhance the theoretical background of the research work.

Sample

The research study would be focusing on the 50 customers from Barclays bank and further to this another 10 customers would be selected for an interview. The customers would be given a range of questions as well as opportunity to express their opinions as well as comments regarding the effectiveness of the customer relations practices that are adopted by the company. Further the sample of 50 customers for the survey and 10 customers for the interview would be taken on a random sampling method considering the almost all the registered customers of Barclays Bank’s concerned branch in Woolwich. Further interviews would be conducted using qualitative approach. Un- structured set of questions would be used in the interviews and more focused discussions would be undertaken to get in depth feedback from the customers.

The research methodology would be based on random sampling. Under this approach the researcher will select the customers from the main customer base without any personal judgment and this in turn will make it easy for the researcher to arrive at impartial as well as more effective conclusions regarding the impact of customer relations management in the banking sector on customer satisfaction.

Conclusion

This particular chapter has focused on the methodology which is to be adopted throughout the research work. The main aim of this particular research work is to quantitatively analyze the feedback of the customers which have been given via questionnaires and to qualitatively analyze the customer feedback given in the focused interviews. The research would be mainly focused on a mixed approach to analyzing the information given in the survey and interviews in order to understand the concepts in depth.

Chapter Four

Reporting of the findings

4.0 Introduction

This chapter will discuss the each piece of information that has been collected from the survey that as undertaken. The key results of the survey questionnaire have been presented in the above section and each of these will be discussed in detail in this particular chapter of the research report.

4.2 Findings

Evaluation of the impact of effective customer relationship management on customer satisfaction

(With specific relevance to Barclays Bank, UK)

Background Information

1. Gender

1. Male
2. Female

Figure 4.1: Gender distribution

It is apparent from the above study that majority of the customers who have participated for this particular research survey are males. The females may have a different perspective on customer care and complaints handling when compared to that of the male counterparts, therefore their lack in numbers will have a considerable bearing on the results being obtained for this research work.

2. Occupation

1. Self employed
2. Office worker
3. Retired
4. Student
5. Unemployed

Figure 4.2: Occupation

Many of the respondents who have been participating in the survey are office workers. They do have more financial stability than the students and the retired people. Therefore majority of the respondents do have the ability to decide on various finance related matters on their own.

3. How long have you been transacting with the bank?

1. Less than one year
2. 01 year – 05 year
3. More than 05 year

 Figure 4.3: Tenure of the service

Majority of the customers have been transacting with the bank for more than one year. There isa considerable number of customers who are working with the bank for more than 05 years. Therefore these customers may have more experienced as well as more valid feedback on the operations of the bank to be shared with the rest.

4. What type of accounts/service do you usually undertake with the bank?

1. Savings
2. Current account
3. Loans and mortgages
4. Insurance and other financial services
5. Pension management
6. Investment
7. Other ………………………………

 Figure 4.4: Type of accounts

Majority of the respondents are using the services of the ban for their finance and insurance requirements. Sincemajority of the respondents who have been contactedfor this survey are either office workers orself - employed people they often require professional advices to handle their long term finances.

5. How often do you transact with the bank?

1. Very often
2. Monthly
3. Occasionally

 Figure 4.5: frequency

Majority of the customers are working frequently with the bank. 23 respondents do work with the bank very often and another 19 would be transacting with the bank on a monthly basis.

6. How many members in your family do transact with the Barclays Bank?

1. All of them
2. Only spouse
3. Only spouse and children
4. None of them, its only me

 Figure 4.6: family involvement  

Majority of the customers are joined with their spouse and / or children for transacting with the bank. Approximately 42 of the customer are joined with their family members in banking operations.

Customer Relationship Management

7. Do you find it easy to get the things done by your bank branch?

1. Yes
2. No
3. Some times

 Figure 4.7: Easiness

34 of the respondents are happy to transact with the business due to its easiness in getting the things done. On the other hand it should be noted that 16 of the respondents have stated that they are not happy with the level of easiness within which the services can be obtained from the bank.

8. Do you encounter problems when urgent financial transactions are to be completed by the bank?

1. Yes
2. No
3. Not sure, sometimes

 Figure 4.8: problems

Approximately 39 of the customers do rarely find problems when dealing with urgent financial services to be done by the bank. On the other hand 11 of the respondents have stated that they encounterproblems when getting urgent financial transactions on time.

9. Does the bank always ask for same information again and again when you visit them?

1. Yes
2. No
3. Sometimes

 Figure 4.9: Repetition of data

It is apparent that majority of the customer information is available with the Bank all the time they want services from the bank. Only 09 respondents have stated that their information was repeatedly requested by the bank. On the other hand the rest have rarely experienced such issues.

10. Are you comfortable with the new technology adopted by the bank?

1. Yes
2. No
3. Sometimes they are delivering problems

 Figure 4.10: technology

It should be noted that a considerable number of customers do have problems with the new technology being adopted by the bank. Approximately 26 customers do have issues with the new technology and only 20 customers do find that the new technology is easily understandable.

11. Do you regularly get the news, updates and offerings from the bank easily (such as loan rates, new accounts etc.)

1. Yes
2. No
3. Sometimes only

 Figure 4.11: updates

Only 11 respondents are getting regular updates from the bank. On the other hand 25 customers do never get regular updates about new and advanced bank offers and another 14 respondents have received such updates at times.

12. Do you think it’s easy to get your financial requirements done without physically going in to the bank?

1. Yes
2. No
3. Sometimes it is difficult

 Figure 4.12: free from physical visits

36 of the total respondents have stated that they can easily get the works done by the bank without actuallyvisiting any branch. On the other hand only 14 customers have stated that they find it difficult toget various financial transactions being done without going to a bank branch.

13. How do you rate the customer service center of the bank?

1. Very Satisfied
2. Satisfied
3. Neutral
4. Unsatisfied
5. Very Unsatisfied

 Figure 4.13: customer service

35 o the respondents have stated that they are happy with the customer services of the bank. On the other hand only 2 customers were totally dissatisfied with the bank’s customer service levels. Further 05 customers have had no particular opinion about the operations of the bank.

14. Do you regularly check what other competitive banks are offering for their clients?

1. Yes
2. No
3. Sometimes only

Figure 4.14: competition

25 of the respondents do have no idea about what the competitive banks are offering. On the other hand only 13 customers are updated regularly on the recent offers of rest of the banks in the industry. Further rest of the respondents does sometimes get the updates.

15. Have you ever recommended the Barclays bank to your friends/ relatives?

1. Yes
2. No
3. Sometimes only

 Figure 4.14: recommendation

27 of the respondents have recommended the bank to their closed ones. On the other hand only 13 of the respondents do not recommend the bank to the others.

16. Are you happy to be a customer of Barclays bank?

1. Yes
2. No
3. Not sure

 Figure 4.15: satisfaction

33 of the customers have stated that they are happy to be customers of the bank. Only 7 respondents are not happy being customers of this bank. Further the rest of the 10 customers do not have any opinion of being a customer of Barclays bank.

17. Do you feel that the staff is professional in their daily transactions with you?

1. Yes
2. No
3. Not sure

 Figure 4.16: professionalism

27 of the customers do believe that the staff is highly professional in all the bank branches. On the other hand the rest of the customers do not agree that the staff is providing a professional service to them.

18. What are your major complaints about the bank services?

Non – adaptability to new technology

19. What are your recommendations for the improvement of the bank?

Update regularly on advance offers of the bank

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Chapter 5

Analysis and discussion

5.0 Introduction

This section provides an analysis of the findings and then discusses the main findings of the study based on analysis. This discussion provides evidence for the achievement of research objectives and solutions for the research questions.    

5.1 Analysis of findings

Most of the customers in Barclays Bank, UK who participated in the sample represent male customers.  According to the above analysis, it can be seen that more than 50% of the Barclays Bank, UK customers are male.  In contrast, female customers who participated in the sample are less.  This may affect for the results of this research study because the ideas and views of the females regarding customer care and complaint handing in bank sector may be different compared to male customers. But the conclusion and recommendations are based on majority of ideas and views of male customers in Barclays Bank, UK. Social status, educational background and career of bank customers have an impact on their expectations from a financial institution. The respondents participated in the survey represent office workers. When considering with students, retired and unemployed people, office workers have more financial stability and interest for bank deposits. This type of bank customers has the power to decide the different finance related matters in their own.  

According to the explanation of Mihelis (2001) it is important for the banks to retain existing customers for a long period of time while paying attention on attracting new customers. Majority of the customers in Barclays Bank, UK who participated in the survey have been transacting with the bank for more than one year. Further, there is a significant number of customers who are with the bank for more than 5 years time.  This means that the Barclays Bank, UK is successful in retaining its customers for a considerable time period. This act as better evidence for the existence of  a significant number of loyal customers in   Barclays Bank, UK.  

According to Berry and Linoff (2001) banks provide different solution for the financial needs of people such as savings, current accounts, loans and mortgages, insurance, pension management and investment. In addition, it is important for the banks to collect and anlayse the data to take effective decisions in each of the service category. According to the above analysis, it can be identified that most of the customers in the sample use the services of Barclays bank, UK to fulfill their finance and insurance requirements.  Majority of the respondents in this survey are office workers and self employed people, these people expect professional advices for handling their long term finances. This can be identified as the closest reason for high demand for the insurance and financial services of the bank. In this study, it was found that most of the customers are working with the bank more frequently or monthly while customers who occasionally transact with the bank takes only very small percentage of the whole. As discussed in Piskar and Faganel (2009) positive word of mouth is very important requirement to develop customer base with the recommendations of existing customers for their relatives and dear ones. Encouraging existing customers to make this recommendation is a better way to attract more customers to the bank.  According to the above analysis, it can be identified that the spouse and children of most of the customers are joined for the bank transactions. Considerable number of customers has joined with the bank with all of their family members.  This is an evidence for the loyalty of customers towards the operation sin Barclays bank, UK.  

According to Lindgreen and Antioco (2005) it is crucial factor to provide convenient facility for the customers to involve with the banking activities easily. Value of customers throughout entire life cycle can be identified as fundamental criteria by the customer to decide the continuation of transactions with the bank. In this analysis, it was found that majority of the customers in Barclays Bank, UK are happy to transact with the bank due to its easiness in getting thing done. However, some of the customers are not happy with the current facilities of the bank in terms of easiness of transaction completion. This requires the bank to look for some alternative methods to develop its existing processes and adapt new processes to provide convenient banking service to its customers. According to the clarification of Berry and Linoff (2001) development of customer knowledge through customer relationship management programs is very important for the banks to acquire better understanding about the customers in depth. Such systems help in obtaining in depth information about the behavior as well as transaction habits of the customers to reduce customer complaints and issues due to lack of understanding. Further, customer relationship management programs allow the banks to select and analyze relevant data to make effective decisions to provide value added service for the customers. According to the above analysis, majority of the customers rarely found problems when dealing with urgent services in Barclays bank, UK.  But some respondents said that they encounter problems in getting done urgent financial transactions on time.   According to Mihelis (2001) it is important to gather and analyse data on customer aspects such as purchasing habits, saving habits, loyalty and spending habits. Customer relationship maangemnt programs enable banks to understand and maintain customer data for future reference.  Customer information system,   Customer Value Evaluation and Customer Information Process are important factors in this case. According to above analysis, majority of customers told that they do not need to provide information in all times deal with the bank.  But some people are not satisfied with the service of bank maintaining customer data because they have to repeat personal data. It is required for Barclays Bank, UK to focus more on maintaining customer information to prevent cases of asking customers to provide their information again and again.

According to Hamblin (2013) most of the modern banks use new technology in banking activities with the intention of improving customer service. Banks use technology as an innovative tool to reach customers than the competitors. However, the acceptance of technological advanced methods by customers depends on many factors such as personal preferences, educational level.etc. In the case of Barclays Bank, UK a considerable amount of customers are not satisfied with the new technological adaptations in banking activities as they have issues with the understanding of things that they think as un comfortable. Customers are keen to receive news, updates and offerings from the bank such as loan rates, new accounts. They believe this as a way of getting information regarding new banking facilities as well as a tool for increasing satisfaction with the addition of value for the customers. In the case of Barclays Bank, UK, most of the customers do not receive such regular updates according to the conducted survey.  

As discussed in Lindgreen and Antioco (2005) customers do not need to go to the banks for making transactions with the presence on new facilities such as online banking and telephone banking. This results in increasing customer satisfaction as well as helping banks to deal with customers in an effective way. According to the analysis of the situation in Barclays Bank, UK, majority of the customers do not need to physically attend the banks to get their financial requirements.  This is an evidence of the existence of customer convenient facilities in the bank with the use of new technology and customer relationship management practices.  According to Berry and Linoff (2001) it is very important for the banks to collect and analyze relevant data in order to make effective decisions. Banks involve with intangible products and services and better customer service is important requirement to satisfy customers as well as be competitive in the industry. Most of the customers in Barclays bank, UK are happy with the customer services of the bank as stated in the survey which is an evidence for the success of the bank to maintain better relationships with the customers through effective customer service. As stated in Lindgreen and Antioco (2005) the banking industry is highly competitive compared to the past scenario and banks try to provide various offerings to attract more customers than the competitors.  Most of the Barclays bank, UK customers do not  have idea about what the competitive banks are offering while a small number of customers are updated regularly on the recent offers of rest of the banks in the industry. As well as Hamblin (2013) customer satisfaction involves with the post purchase behavior and customers are satisfied in the situations expected service level exceeds the actual service levels. In banking industry, customer satisfaction is a main requirement to retain customers for a long period of time as customer loyalty is essential to maintain higher customer base.  The most effective way to attract more customers to bank branches is providing an excellent service to them According to the findings of the survey, majority of the customers have stated that they are happy to be customers of the Barclays bank, UK. This shows that most of the customers are satisfied with the banking service in Barclays bank, UK despite some customers answers regarding dissatisfaction.  It is very important requirement for the bank staff to be professional when dealing with the customers. This supports to deliver quality customer service and maintain better reputation in the industry. Regarding the aspect of professionalism of employees in Barclays bank, UK, majority of the customers   believe that the staff is highly professional in all the bank branches.  Taking necessary actions to minimize the customer complaints and maintaining effective complaint handing system are very important requirements for the banks.  Most of the customers in Barclays bank, UK complaints about non -adaptability of new technology in bank services and they recommend to update regularly on advance offers of the bank.

5.2 Discussion

According to the primary and secondary data findings and above analysis, it can be concluded that majority of the customers in Barclays bank, UK are satisfied with the customer relationship management practices in the bank.  To meet the research objective of understanding the importance of customer relationship management in banking industry , it can be identified that customer relationship management through  customers loyalty programs, data warehousing and  data mining  is essential to minimize customer complaints, handle customer complaints in an effective manner, reduce repletion of customer information requests, increase customer satisfaction which finally end up with customer loyalty, retention and positive word of mouth. Satisfied customers recommend the bank for other people which ultimately develop customer attraction compare to competitors in the industry. To meet with the objective of evaluation the measures of customer satisfaction in banking industry, customer service center , professionalism of staff, use of new technology in bank operations, ability to complete transactions without physically presence in banks , ability of getting service quickly and easy  and   efficient use of customer data are prominent. It can be identified that there is a positive relationship in between customer relationship management and customer satisfaction at Barclay’s bank. Increased levels of customer satisfaction can be observed in the situations of maintaining better practices of customer relationship management while customer satisfaction is low in the case of weaknesses in CRM practices. . Barclays bank, UK has to pay attention on developing some areas which the customers do not satisfy currently. It is required to send news, updates and offerings from the bank such as loan rates, new accounts to customers. Further, majority of customers are not comfortable with the new technology adopted by the bank which the bank requires to adapt new technological methods or make awareness of customers to use new processes.

Chapter 6

Conclusion and recommendations

6.0 Introduction

This section concludes the findings in the research study of evaluating the impact of customer relationship management on customer satisfaction at Barclays Bank with specific reference to the Woolwich area. This chapter also provides the recommendations for the Barclays Bank to develop its customer relationship management in order to enhance customer satisfaction.  

6.1 Conclusion

Customer service is a very important requirement in the banking industry because customers highly consider the service level of the banking services when they selecting a bank for their financial requirements. Majority of the customers in Barclays bank, UK are people who have stable financial power with permanent income sources from employment. It can be concluded that the employment level of the customers have an impact on their involvement with the banking activities.  Further, Barclays Bank, UK is able to maintain a loyal customer base, majority of its customers are long term customers who have been with the bank for at least one year.  This result concludes that there exists a high level of customer satisfaction towards the banking services in Barclays bank, UK. These customers expect professional advices from the Barclays Bank, UK to handle their long term finances in the field of insurance and other financial services as they are satisfied with the banking services compared to other competitors in the industry. The frequency of working with the bank is considerably high for Barclays Bank, UK customers and their satisfaction is high. Further, almost every member of the family including partners and children of customers involve with the banking activities of Barclays Bank, UK. It can be concluded that customers’ willingness to get involve their loving ones with the transactions in Barclays Bank which is an evidence for the higher level of satisfaction. Easiness and convenience of making bank transactions is a major reason which increases customer satisfaction. Customer relationship management techniques are widely applied to improve the easiness and convenience of involvement with banking activities. This feature of banking service is very important to develop through acquisition and maintenance of customer relationship management strategies. In the case of Barclays bank, UK, it can be concluded that majority of the customers are considered the bank provides easy and convenient facilities to fulfill their banking needs. The main reason behind this situation can be identified from the effective customer relationship management using new technology and effective involvement of employees in the Barclays Bank, UK which    resulted in increased customer satisfaction.

It is essential requirement for the banks to minimize the complaints of customers due to poor customer service regarding urgent financial services. Excellent customer service results in high level of customer satisfaction. Less number of customers in Barclays bank, UK find it difficult to work with the bank in urgent cases while majority are satisfied with the service of the bank regarding their urgent financial services. This is a result of better management of customer relationship with the bank to increase customer satisfaction. Customer relationship management techniques used in Barclays bank, UK can be identified as the foundation for this response.  Maintaining databases to access customer details is important requirement for the banks to prevent asking customers about their information as each time they transact with the bank. This situation results in customer dissatisfaction which they think as inconvenient to repeat their information to the bank. It can be concluded that Barclays bank, UK is maintain a better approach to handle customer information in an effective way to avoid repetition of customer details through effective customer relationship management strategies. This results in increased customer satisfaction through easiness, convenience and development of confidence with the bank. Technology is a crucial factor in modern banking industry to introduce effective customer relationship management strategies. It can be concluded that there is a significant issue with the acceptance of technology adaption by Barclays Bank, UK as many customers do not find it easy to work with new technological methods in dealing with transactions. Although some customers are agree with the understandability of new technology adaption in bank activities. Barclays Bank, UK needs to address this issue wisely because there is a negative impact on customer satisfaction.

Customers are willing to receive, updates and offerings from the bank easily such as loan rates, new accounts etc. This results in creation of the felling of recognition by the bank and provides value for their money deposited in the bank an addition to increased interest for deposits or other financial reward.  Because of that, customers are satisfied with this service which adds them proud to be a customer in the Barclays Bank, UK.  It can be concluded that majority of the customers in Barclays bank, UK are not receiving such information and this is an area to be considered by the bank through customer relationship management process. Online and telephone banking services in Barclays Bank, UK are highly valued by the customers which supports them to involve with banking activities which put physically presenting with the bank.  This increases the customer satisfaction levels due to convenience facility and easiness of doing transactions. Further, it can be concluded that customer service rendered by Barclays Bank, UK is in a high position and it resulted in high level of customer satisfaction.  Customer relationship management strategies intends to develop customer service through effective complaint handing, dealing with customer issues quickly and finally providing better service for the customers. It can be concluded that majority of the customers in Barclays bank, UK recommend the bank for their relatives and friends. This positive word of mouth is a results from customer satisfaction generated from positive bank-customer relationship through effective customer relationship management.  In nutshell, it can be concluded that here is a positive relationship in between customer relationship management in Barclays Bank, UK and customer satisfaction despite the involvement of technology in bank services show some drawbacks due to its adaptability issues.  It can be said the customers in Barclays bank, UK hold high levels of satisfaction and the involvement of customer relationship management is significant in this case. Barclays bank, UK has adapted some of the customer relationship management practices such as customer service; maintain customer data in quickly accessible databases and online banking services successfully. But there should be improvements in some areas such as technology adaption, deliver of updates to the customers and dealing with urgent financial services.  

6.2 Recommendations

Barclays bank, UK has to consider correct weaknesses in main areas of adaptability of new technology and sending information regarding regular updates of bank services in order to increase its customer satisfaction as identified in this study. Further there is a opportunity to enhance customer satisfaction by its current successful customer relationship management  in the areas of customer service, effective customer data access process, provide easy and comfortable banking service to its customers.

Following recommendations can be done considering above two scenarios.

• It is recommended the Barclays bank, UK to carry out detailed analysis of the customer internet and demand for using technological developed banking transactions.  Most of the customers found it difficult to access new technology used by bank. For example, the official website of the bank may not be adaptable. It should be taken steps to modify the webpage or take necessary actions to provide easy guidelines to access the website. It should be designed in an easily understandable way for the customers with using more figures and pictures rather than using detailed information. It is very important to understand the requirement by majority of customers who are not much fluent in English.
• It is recommended to develop the knowledge of customers regarding new technological adoption. Sending this information to the existing customers using their email, postal address, telephone or fax will be a better option to increase the customer’s awareness regarding the way of using new processes introduced by bank.    
• Update regularly on advance offers of the bank is another recommendation to develop the bank-customer relationship. The official website of the bank needs to be updated about new opportunities available for the customers such as increased interest rates or loan facilities.  Digital marketing strategy of the bank can be used as a better tool in this scenario including social media, online advertising and search engine optimization.  Facebook page of bank can be used to pass necessary information to the potential customers through addition of new photos and new information.  
• Mobile advertising is also recommended for Barclays bank, UK which can be used to address the customers directly to use customer relationship management techniques in increasing customer satisfaction.
• Development of the existing practices in providing easy and convenient banking service should be strengthening by addressing the needs of culturally diverse clients. In order to succeed in this case, the bank employees especially who are at the front desks can be provided cross cultural training programs which assist them to deal with cultural diverse clients effectively to ensure high level of customer service.

References

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