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Supercharge Your CRM Strategy Marketing in Financial Services

by: SilverTech

Customer relationship management software monitors and manages the interactions between customers and a brand. It can provide an all-inclusive, 360-degree view of customer activity that considers all customer information, as well as lead management, opportunity management, and campaign interaction.

Happiness is…Lead to Loyal™

If you’re thinking that happy customers are the key to your success, you’re right. Financial institutions need customers in order to survive, thrive, and grow. Understanding and implementing an overall customer-focused strategy is key to securing long-term relationships, promoting customer loyalty, and generating qualified leads. Utilizing a CRM strategy and CRM software will help you understand your ideal customer and provide a comprehensive view of actions and life events that define and mold a high-value customer. You’ll quickly nurture meaningful relationships, establish relevant content, and better understand engagement, habits, and satisfaction to create an overall optimized experience. Knowing what path a customer will take will help maximize the lifetime value of all leads that become customers while increasing loyalty and decreasing churn.

Existing financial institutions offer a broad range of services that appeal to more individuals, while digital portals have eliminated the need for geographic proximity to a customer. There are more virtual options, more locations, more branches, more retailers, and an overall cluttered and overwhelming marketplace. It’s easier than ever for a customer to shop around or seamlessly switch providers. CRM allows you to get to know your customers, anticipate actions, and provide personalized experiences to all individuals.

Questions You Should Be Asking

  • Do you have the resources available to manage and maintain CRM software?
  • What existing CRM software do you have in place right now?
  • What are your budgetary restrictions?
  • What are the key performance indicators for your institution’s goals?
  • Do you have the internal bandwidth to manage a phased implementation/adoption over time?
  • How many internal users will need to access your CRM software?
  • What pain points do you want CRM to address, solve, and optimize?
  • What other software and technology need to integrate with your CRM software?

Just Because It’s Digital Doesn’t Mean Customers Don’t Expect You to Get Personal

Customers anticipate that any financial relationship will be able to predict individual needs and remain consistently accommodating, understanding, and customized. Your customers are spending less time in brick and mortar locations and financial institutions need to find ways to create personalized experiences online.

Use your CRM software across all channels to increase loyalty, lower costs, and reveal unique opportunities for individual patients regarding finances, risk factors, applicable cross-selling products, and lifetime events. CRM software will allow you an evidence-based approach to creating new campaigns and understanding customer needs.

Do It Right the First Time

As your organization gets ready to move forward with your new or improved CRM application, start developing a strategy that takes into consideration your current processes and areas for opportunities. Take note of industry best practices and search for ways to reduce internal bottlenecks, improve organizational strategies, and gain C-suite approvals. Factor in projected ROI goals, needs from disparate systems, and necessary reporting insights. As you learn the value of your CRM software, take into consideration day-to-day operations, technical resources, and overall project management.

Disorganized, disjointed and misused customer data makes it nearly impossible to nurture and retain customers. Combining internally and externally retrieved data creates a 360-degree view of your customer. Managing the customer lifecycle in your financial institution becomes more streamlined and logical as you generate segmented audiences, understand customer journeys, and create high-touch experiences.

CRM software will eliminate inefficiencies within your current business processes, automate manual customer procedures, and provide real-time customer information to anyone in your financial institution that has access, from management to call centers. Your CRM software will provide better visibility, streamlined functionality, integration with existing systems, and database alignment for a more comprehensive view of your customer’s actions.

SilverTech Loves Happy Customers Just As Much As You Do

SilverTech can help you define your CRM strategy and help you migrate to a leading CRM system. We will review your current business processes and determine where inefficiencies exist in your current processes and show you how to revise and streamline new processes and technology. We’ll help your team with project management, best practices, training, reporting and analytics, deployment, and service integration. Our team will give you ongoing support with any technical or marketing difficulties you may encounter.