The Influence of e‐CRM Competitive Advantage on e‐CRM Performance in the Indian Banking Industry

Abstract

e -CRM competitive advantage attained through e-CRM tools and techniques is a positive indicator of the financial and non-financial performance of the banks in India, thereby boosting the overall banks' profitability.In the present scenario, competition is forcing companies to distinguish themselves from their rivals or competitors by offering specialized and efficient services to their customers. It is imperative for the banks in India to implement a comprehensive business strategy for effective service delivery to their customers to achieve higher levels of customer satisfaction and strive for customer delight (Kaur J., 2012). Various organizations compete with and confront one another on a global level using technology-based resources. Creating competitive advantage and enhancing profitability in relation to competitors are two creditable strategies for every organization (Ismail et al., 2010) also reported that profitability is not the only force of competitive advantage. Competitive advantage is measured or achieved within an organization based on other parameters such as market share, technology, customer services, and customer satisfaction, loyalty, and trust (Wang and Lo, 2003;Neely, 2005). In the digital world, information technology (IT) practices have become an imperative strategy to create competitive advantage within an organization. IT is, therefore, important for both marketers and researchers. Electronic customer relationship management (e-CRM) is one such practice, used by companies to forge long-term relationships with their customers via the Internet and other electronic modes.e-CRM technology is considered to be a source of competitive advantage in this study. Various studies have found that there is a positive relationship between competitive advantage and the financial performance of an organization on the 1 JEL classification codes: G21, M15, M31, M39, O31, P47.The model measuring the impact of e-CRM competitive advantage on e-CRM performance using the balanced scorecard approach has been found beneficial to gauge the financial and non-financial performance of the banks in India. e-CRM competitive advantage contributes greatly not only to financial growth, but also toward the non-financial growth of banks in terms of customer satisfaction and improved level of internal business.Banks must invest in technologyoriented solutions to enhance customer lifetime value and create competitive advantage by upgrading information technology systems.

Electronic customer relationship management (E-CRM), customer experience and customer satisfaction: evidence from the banking industry

“…Bataineh (2015) stated that E-CRM leads to more satisfied customers with a positive word-of-mouth. In addition, Ismail and Hussin (2013), Kaur (2016), Kaur and Kaur (2016) 2020) also revealed the positive association of E-CRM with customer satisfaction. Therefore, E-CRM services provided by the organizations have allowed the customers to connect and interact with them, which increases their satisfaction level.…”

“…In addition, the existing literature lacked research on the relationship between E-CRM and consumer satisfaction based on customer experience (Zaim et al, 2020). Numerous studies have also confirmed the relevance of E-CRM in the ebanking industry (Abdulfattah, 2012;Abu-Shanab and Anagreh, 2015;Kaur and Kaur, 2016;Mang'unyi et al, 2018;Al-Dmour et al, 2019;Chuang et al, 2012;Dhingra and Dhingra, 2013;Hendriyani and Raharja, 2018;Paul and Muthumani, 2018;Rashwan et al, 2019;Sharma et al, 2020;Shastri et al, 2020). Also, there were limited studies that assessed the efficacy of E-CRM in the Indian banking industry (Kaur, 2016;Sharma et al, 2020;Shastri et al, 2020).…”

“…Every marketing campaign is primarily aimed at promoting business profitability and developing and maintaining good customer relationships (Kotler and Keller, 2016). Many studies investigated the impact of E-CRM on various factors such as customer satisfaction (Rashwan et al, 2019), customer loyalty (Mang'unyi et al, 2018Shastri et al, 2020), customer retention (Al-Dmour et al, 2019), financial profitability (Kaur and Kaur, 2016;Cajestan, 2018) and so forth. Despite all these attempts, E-CRM that affects customer satisfaction was not analyzed and assessed through customer experience, and this gap was clearly identified in the previous work (Zaim et al, 2020).…”

The impact of trust, privacy and quality of service on the success of E-CRM: the mediating role of customer satisfaction

“…The results have shown that any employee satisfaction, technology acceptance and cost play a significant role in the E-CRM inefficiency. Kaur and Kaur (2016) examined that how E‐CRM competitive advantage contributes greatly to financial growth within organizations. The findings of the research have shown that E‐CRM financial performance contributes greatly to organizational performance.…”

Collective Actions, Dynamic Capabilities and Competitive Advantage: Empirical Examination of Minor Export Crop Farms in Sri Lanka

“…From the perspective of firms, competitive advantage is the extent to which a firm is able to create a defensible or superior position over its competitors through its resources and dynamic capabilities [19,32,31]. This study defines competitive advantage of minor export crop farms as using collective actions configured by dynamic capabilities (quality management capability and marketing capability) to keep them separate from their competitors and to keep the farms active and growing.…”