||After Taiwan became one member of WTO four years ago, the following internationalization and liberalization in financial industry have led domestic banks to a new era. In order to cope with this global trend, all banks strive to develop customer-tailored financial products. Among all these merchandises, credit card is the most popular. Banks want to create their niche and satisfy the customers, so they rely on customer relationship management to analyze and raise customers’ value. Therefore, the relationship between customer value and customer relationship management are the two vital issues in this service-guided era.
The goal of this research is to probe into the connection between customer value and customer relationship management. The former contains functional value, social value, emotional value and customers’ perceived sacrifice, while the latter consists of relationship quality (customer satisfaction and customer loyalty) and customers’ behavior (retention rate, repurchase rate and cross-buying rate).
Based on important credit card holders of one local bank, Bank H, this research employs RFM model and 80/20 Law to carry out a survey. Totally 1300 questionnaires are distributed and 586 are gathered. Deducting 18 invalid questionnaires, valid questionnaires amount to 568. So the recall rate of valid questionnaires is 43.69%.
The results indicate that there’s a direct and positive relationship between customer value and customer relationship management. The conclusions are: (1) Functional value and social value have a positive and direct effect on customer behavior. Hence, if banks want to raise their performance on customer relationship management, they should increase the variety of services (functional value), better their social image and strengthen customers’ identification with banks (social value). (2) Customer satisfaction has a positive and direct influence on customer loyalty. (3) There’s a positive and direct relationship between customer loyalty and customer behavior. However, customer satisfaction and customer behavior are connected via customer loyalty. Consequently, regarding customer retention rate, repurchase rate and cross-buying rate, banks can improve their services’ quality (invisible service) and quantity (visible service). (4) Customer value and customer behavior are related via customer satisfaction and customer loyalty (relationship quality). As a result, banks should offer different services, products, and marketing channels to meet the different needs of consumers. The outcome will be a perfect customer relationship and a win-win situation between banks and their customers.