PROPOSED BUSINESS STRATEGY FOR INCREASING CUSTOMER LOYALTY IN BANK RMD

• Main Author: WIDYA PRAMUDITA (NIM 29113480), MIRA
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/28942
• Institution: Institut Teknologi Bandung

State-owned banks dominate the Indonesian banking industry, with Bank RMD as the top player with the largest assets and third party funds. However, Bank RMD as the top player does not guarantee that it will be the first choice of its customers regarding its services and products. Bank RMD was the first bank to standardize its service quality using MRI and gain service legend award for winning 5 years straight for the leading bank of the best service quality. All banks have already implemented a standardized service quality. Bank RMD needs to change its strategy to differentiate its color from other banks due to a tight competition of banking industry in Indonesia. <br /> <br /> This research is using qualitative methodology with in-depth interview as the primary sources to 5 people working in Bank RMD to measure the likelihood of customers recommending a company. While secondary data gathered from third party for reccomendation, in this case was NPS Score data from Learning Resources. <br /> <br /> To increase the loyalty of Bank RMD’s customers, the company should implement new marketing mix strategy new TOWS Strategy based on analyzing SWOT and 7Ps inside and outside of Bank RMD. The new marketing mix strategies are developing more suitable products to customers, balancing in promoting through rewards points, direct gifts, and community programs, recruiting the right people for new employees, holding workshop periodically for frontlines, simplifying the process flow, and adding EDC networks in the right market. <br /> <br /> Whilst, the TOWS strategies are for frontlines doing cross-selling, developing high-secure integrated e-channel banking, and improving time SLA for solving customers’ complaints.