Relate to this: better CRM does not necessarily mean more technology.

• Position: Marketing News - Brief Article

Need to improve your management of customer relationships?

Some suggestions on how to do this are offered in a recent report entitled, "Creating a Superior Customer-Relating Capability," which was authored by George Day of the University of Pennsylvania for the Marketing Science Institute.

To improve, an organization such as a bank must first assess how it compares with its rivals in three areas:

Relationship orientation. Does everyone in the bank share the belief that customer retention is a high priority? Is there free sharing of information about the customer?

Configuration. Does the bank make resources available to support CRM initiatives? Does the bank provide incentives that reward customer satisfaction and retention? Is there clear-cut accountability for the overall quality of relationships with customers? Does the customer...