Customer relationship management in the financial services sector: an international perspective on management practices

Led by: Professor Sally Dibb (The Open University Business School)

Background

The research is set in the financial services sector in Brazil, where it examines the processes which firms apply to manage their customers. Recent technological advances have led to the widespread adoption of Customer Relationship Management (CRM) systems, which organizations use to capture information about their customers. This study is gathering data about the current state of CRM practices in Brazilian financial services, focusing on the progress being made, the barriers being faced, and the implications for business performance.

Methods

Advances in information technology have paved the way for changes in how businesses manage their customers. Organizations in all sectors now use CRM to capture information about their customers, because it results in better tailored product and service offerings which can lead to profitability improvements.

This research, conducted in conjunction with the University of Sao Paulo in Brazil, is allowing OU researchers to study CRM progress and barriers in the financial services sector in Brazil. The work builds on similar work carried out in the UK, allowing international comparisons of CRM practices. A web-based questionnaire translated into Portuguese is being used to gather data on CRM practices from Brazilian financial services organizations. Following a period of testing, the main data collection phase is underway, with preliminary results expected in December 2009. These findings will uncover a deeper understanding of the progress which firms have made with CRM, and provide detailed insights into any barriers they have faced.

The project funding is facilitating knowledge transfer between academe and practice in the Brazilian financial services sector, an area of strategic priority for Santander. The research fits closely with Santander’s corporate model for customers through which it aims to be a leader in service quality. Effective CRM practice is at the heart of such relationship building and service provision, so the research connects well with Santander’s desire to improve customer satisfaction. The findings will have implications for the training of employees, and for the quality of distribution channels, both of which are strategically important to Santander. A dissemination workshop for academics and practitioners, which will be attended by the Brazilian academic involved in the project, will be hosted by the Open University Business School after the findings become available.

Research centre: International Management Practice