Customer relations - Coursework Example

Currently, evaluating HSBC operations in not only at its country of origin but also globally at this bank has established approximately 7,000 centers in 81 states, which is a tremendous transformation (Bentahar, 2013). However, HSBC despite reputed with the use of intricate and up to date technological knowhow, it ought to devise effective strategies towards maintaining high aggressive edge in the market. 1. CRM Platform at HSBC based on the Actors-Strategy and Tools HSBC’s platform comprises of segmentation approach evident from varied categories of clientele.

These embrace both local and global customers whereby each category has varying distinct subcategories based on their respective needs like Premier group, which the bank has ensured a specialized team with an executive to cater for their varied financial needs. Mainly, this mode of segmentation is to ensure the bank avails effective and appropriate services to clients based on their needs. Hence, get feedback and act on it promptly, which is an essential strategy in every global firm aspiring to thrive in a competitive market.

Mainly, diverse segmentations usually grant the bank an elevated platform whereby it is capable of knowing exactly clientele needs, hence use current technological knowhow as a tool in acting promptly. . 2. Service/Sale Profile that fits with HSBC Where, ERP - Enterprise resource planning ODS – Operational Data Store CIF – Cost Insurance and Fleight 3. Recommendations meant to enhance CRM quality at HSBC HSBC in its quest to maintain high aggressive edge in the market, it ought to embrace fully current technology in all its aspects.

These encompass initiating instant communication, which will enable clients irrespective of their locations globally interact with departments or bank’s sections of their interests. This is especially to make consultations and inquiries concerning varied issues pertaining to services offered by HSBC (Bentahar, 2013). Hence, act as a one-stop-shop whereby customers are capable of managing their finances as well as other services like insurances wherever they are instead of allocating time meant for physically visiting varied branches globally.

I would also suggest the Bank to increase numerous and varied options for its clients. This is because people have varied and numerous preferences when it comes to banking or managing their respective wealth. Because this will make HSBC be in a better position to beat all other players in the market by offering their respective clients more flexibility than other banks. Some options that may be appropriate to clients in availing adequate flexibility embrace, payment methods, delivery of parcels, online money transfers at considerable costs, and receiving of financial statements at predetermined intervals suggested by clients.

Hence, prompt HSBC focus its attention in fulfilling clientele’s interests, which not only contribute to high customers’ retention rate but also attract others who may be seeking similar services. In addition, HSBC after implementing CRM