An empirical study to analyze CRM strategy using BSC

Abstract

In the new marketing paradigm that is based on the relationship marketing, corporations and organizations look for retaining and enhancing the long run relationships with their customers. Customer relationship management (CRM) as a heart of the new marketing paradigm includes numbers of mechanisms that endeavor to manage sustainable and profitable long-term relations with valuable customers. Every year, there are many programs and resources dedicated for marketing strategy and planning. Evaluation of these endeavors especially the CRM strategy is much important. Hence, the primary purpose of this research is to analyze CRM using balanced scorecard as a valuable strategic tool. Required data was gathered from one of the biggest commercial banks of Iran and they were analyzed using BSC and statistical software packages. Results indicate that there is a meaningful relationship between 3 main aspects of CRM strategy and 4 main aspects of BSC.

Keywords

• Customer relationship management
• Balanced scorecard
• Marketing strategy