10 Ways to Leverage CRM for Financial Services
We've seen our fair share of financial service CRM projects, which present unique challenges due to the structure and sophistication of financial service and insurance company operations. After working with clients such as Farm Bureau Financial Services and Holmes Murphy & Associates, we have found specific functions that CRM can provide to boost corporate sales activity and more efficient operations.
The Top 10 Ways Financial Services Companies can Leverage CRM
- Link sales prospecting and proposal tools to increase compliance, accuracy and productivity.
- Track existing agent/broker qualifications, accreditations and performance.
- Manage new agency/broker/rep recruitment and contracting process.
- Track results (leads, follow-up, etc.) on a campaign-by-campaign basis or on the level of individual recipient.
- Move qualified leads to the Sales department and track closure rates.
- Analyze the current state of the pipeline on an enterprise-wide basis or at the individual customer/agency/broker level.
- Aggregate individual opportunities into forecasts by sales rep, region, division, and product line.
- Track specific events or milestones that trigger reminders sent to the appropriate sales rep.
- Provide real-time access to client data via mobile applications and collaboration tools.
- Synchronize email, contacts, calendar events and tasks with main email system.
Financial service companies increase their cross-selling opportunities and better manage their sales and marketing organizations when everyone has access to good data and forecasting tools.
Image by Susan NYC