How CRM Finance can help Companies to increase Sales

1. Targeted Offers Using Social Media

For instance, with a quality financial CRM solution, can send out new offers, run campaigns through social networking platforms. You can easily track the effectiveness of the message to see how many people responded to it or clicked on a link within the message. At that point, the information can be recorded in the correct customer’s profile in the financial CRM solution, so that future marketing messages can be tailored to that person.

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2. New Methods of Communication

Financial services CRM solutions may also put more of an emphasis on meeting customers where they are instead of trying to pigeonhole them into a particular method of communication. For instance, when a marketing message is sent out, it will encourage the customer to get back to the company in one of several ways. The customer may be able to respond through an email, social networking site, text message, mail or over the phone. Regardless of how the customer response to the message, the appropriate information can be input into the CRM program and tracked accordingly. This way, it gives the customer flexibility and increases the odds of getting a response. If you send out a direct mail campaign and you expect the recipients to respond by mail, you may be missing out on many people who would be willing to quickly send out a text message or an email instead of mailing it back. This will increase conversion rates and make customers happier.

3. Managing Regulatory and Compliance Changes

In the financial services industry, companies continually have to worry about changes in government regulations. With much attention on the financial industry in relation to the economic recession across the globe, most financial services companies have to abide by new regulations. Because of this, it can be hard to keep up with all the new rules. Many CRM platforms will help financial service businesses stay on top of all of these rules. This can help your company avoid possible fines or litigation and give your customers the service and products they need.

4. Mobile CRM

As technology continues to improve, CRM systems will also integrate with much of it. For example, instead of interacting with your CRM system by using a keyboard and a mouse, you may be able to interact with it through speech. The newest smartphones such as the iPhone 4S have speech recognition capabilities that allow you to simply talk to the device. According to Forbes, “for many sales reps, the new iPhone would be more useful, in more situations, than a traditional keyboard and monitor.”CRM developers will eventually integrate this type of functionality into the system so that you can just say what you want to happen and it will be done.

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