Its not about transactions, its about relationships!
Thinking about CRM some more, and a small lightbulb just went on when I read this.
CRM is based on transactions between Banks and customers. Its sole purpose as defined is to ‘drive’ revenue as we say in the business.
Well Doc says that’s not right. What matters is the relationship between the bank and the customer. He calls that VRM (Vendor Relationship Management). Fascinating concept. Get to know each other, learn to trust each other, take care of each others problems, and THEN the customer will buy something more from you.
To use banking parlance, its not about sales, its about service. Good service will drive future sales.