Introducing a Conceptual Model for Electronic Customer Relationship Management Readiness in the Banking Sector

Abstract

Customer Relationship Management (CRM) is one of the main priorities for almost all organisations, particularly in banking. Information Technology (IT) has changed ways of interacting with customers, resulting in the concept of Electronic Customer Relationship Management (eCRM), which has caused a shift from offline CRM to eCRM. ECRM aims to attract and retain customers, improve customer service by creating a solid relationship with them, and provide valued financial products as required. Thus, it is vital to identify readiness factors in any organisation to ensure that they are capable of deploying eCRM and reduce the likelihood of failure. Due to the current gap in having a comprehensive eCRM readiness model in banks, this research attempts to fill this gap by developing an updated conceptual model for eCRM readiness for banks. These factors will provide banks with guidelines for evaluating their eCRM readiness status.