GAP ANALYSIS OF CRM PERCEPTIONS BETWEEN BANKS AND CUSTOMERS IN ARMENIA

Customer Relationship Management (CRM) plays a pivotal role in the banking industry, serving as a strategic approach to enhance customer loyalty and satisfaction. This research presents a thorough comparative assessment of CRM practices from both the customer and institutional viewpoints within three anonymized Armenian banks (referred to as Bank A, Bank B, and Bank C). Drawing on data from a survey of 397 banking customers and a corresponding institutional survey completed by CRM team members at the same banks, the study explores areas such as the clarity of CRM strategy, customer retention initiatives, communication effectiveness, data protection, and service quality. The findings indicate that although all three banks pursue similar CRM goals, such as enhancing customer retention, promoting cross-selling, and improving service standards, significant perceptual discrepancies exist between customer and institutional perspectives across several CRM dimensions. The discussion highlights the consequences of misaligned perceptions, illustrating how overlooked discrepancies, such as inflated confidence in data security or insufficient attention to customer communication feedback, can undermine the effectiveness of CRM initiatives and weaken customer loyalty. The study concludes that Armenian banks can significantly improve CRM performance by proactively addressing these perception gaps.