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...you even know that these calls were coming in?
Or, say you had a customer who came into your branch and was turned down for a loan. Would you know that he had applied for another loan and had been approved at your branch across town?
Relationship managers are said to know their customers best of all, but do they know everything about their customers, their interactions with the bank, and how to capitalize on opportunities to improve those relationships?
A fully functional customer relationship management (CRM) system tracks customer needs and wants, and equips your entire staff with clear knowledge of each customer. Getting your CRM to that point, however, calls for planning, vision and commitment. We recently spoke to three banks that operate successful CRM systems, or combined CRM/marketing customers information file (MCIF) systems, and asked them to relate what it took--and continues to take--to achieve full benefits. Their stories follow.
Link Every Department for Maximum Results
First Reliance Bank, Florence S.C. Assets: $284 million
At First Reliance Bank, a customer did call every two weeks to request a funds transfer. But at the bank, the call center logs in every customer call and the pattern was noticed.
It seems the customer was using the call center to transfer payroll funds. The relationship manager diplomatically raised the question with the customer and came up with a better solution--for everyone. He provided the customer with software and showed him how to operate it so the customer could conduct his own transfers from his office. The call center was relieved of a call they really shouldn't have been handling on a regular basis, the expense of those calls was eliminated, the customer was elated to be independent and to have been noticed by the relationship manager, and the relationship manager was a hero.
Solutions like this can happen when CRM is working at...
NOTE: All illustrations and photos
have been removed from this article.
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