The center of a modern company and a successful business is the client. This statement is especially relevant for banking. What is the role of CRM for banks in 2021?
The success of a banking institution largely depends on the speed and quality of service. A loyal client keeps more funds in deposits and current accounts, and the principle of word of mouth has not been canceled. In addition, retaining a regular customer is much cheaper than attracting a new one. By introducing a CRM system, the bank primarily thinks about improving the quality of service and speeding up the procedures associated with the provision of banking services. Also, automation of most of the routine actions of employees will help reduce operating costs and optimize staff. Let’s take a closer look at the functions of a CRM system for banking institutions.
Interaction with potential, new and permanent clients
The bank’s client base consists of many clients that need to be segmented for various marketing and information activities. The main categories of clients are: potential, new, permanent and past.
Customer base analytics and invoice data.
The main areas of work with categories of clients:
- Potential – CRM uses all available communication channels and attracting new customers. These are mailings, cold calls, promotional campaigns, trigger interactions and much more. Each activity is accompanied by detailed statistics on the number of new leads at the top level of the sales funnel.
- New – a strategy to expand the client’s product portfolio. Creation of motivational programs to use certain services of the bank.
- Permanent – increasing loyalty, individual programs for depositors, a personal manager and much more. CRM allows you to plan all contacts with a person, to find out if you are interested in additional services. With the management system, the manager will definitely not forget to inform the client or respond to his request.
- Past – an interaction strategy that is aimed at returning the client to the bank. Most often, communications are built using trigger campaigns.
- Separately, it is worth mentioning the clients of the B2B segment, where the approach and duration of the transaction can be radically different from B2C.
The manager will have a clear script for interacting with the schedule of meetings, presentations, etc. Analyzing the sales funnel, the manager understands the prospects of a particular deal and makes adjustments to the interaction strategy.
Banking product management and automation in crm for bank
In addition to the reference mechanisms of interaction, the system offers the bank to automate most of the routine actions. For example, registration of a new client, preliminary collection of data from open sources, preparation of documents and much more. Creation of a unified catalog of banking products with a detailed description of each one allows providing the client with the necessary information as soon as possible. In addition, to speed up the process of consulting a user in CRM for a bank, you can integrate virtual telephony, online chat and popular instant messengers.
Detailed statistics of the entire banking institution will become an irreplaceable assistant to the manager. All data is available in convenient graphical dashboards. You can analyze the sales volume, the number of deals in work, statistics on the credit conveyor, detailed implementation of the plan by employees and much more.