CRM Scorecard measurement: The Case for the Banking Sector in Saudi Arabia

Abstract

Customer relationship management (CRM) has become one of the leading business strategies in the new millennium. Companies have invested or are planning to invest huge amounts to implement CRM strategies, tools and infrastructure in order to attract and retain profitable customers in today’s increasingly competitive markets. For that, they are recommended to have a measurement system to manage and assess the effectiveness of CRM initiatives. One of the effective performance measurement methods is the Balanced Scorecard (BSC). In this paper we proposed a CRM Scorecard for the evaluation and enhancement of CRM systems of the Saudi Arabian Banks to improve the customer satisfactions and loyalty. The purpose of this research has been to identifying the variations made on BSC to become suitable to measure the performance of CRM.