Attention Financial Institutions: Use CRM Automation Technology to Cross Sell Wisely

banker shaking hands with clientCross-selling is almost a dirty word in the financial industry, thanks to the recent cross-selling controversy. Now, more than ever, banks are under intense scrutiny. However, cross selling is also the holy grail of business growth; it’s common knowledge that it’s far easier to retain and grow clients than win new ones. But proposals must be highly targeted.

CRM technology enhanced with CRM automation can help by providing rigorous client detail virtually anytime, anywhere with:

1. Data that is accurate, complete and up to the second. With CRM automation, data is automatically updated through both internal and external sources. There’s no manual entry required, so there’s no gaps in information or human error. That gives bankers, advisors, deal-makers, and relationship managers an accurate, up-to-the minute 360-degree view of the customer. With just a click, colleagues from across your organization can see information such as:

  • Internal communication
  • Agreements
  • Open opportunities
  • The client’s relationships within the organization
  • The strength of those relationships.
  • Executive alignment within the client’s organization, and much more.

2. Data that is packaged so it’s easy to review, understand and act on in the formats you prefer, even within your email system. With CRM automation you don’t have to navigate and gather disparate details across a CRM system. In fact, you don’t have to log into the CRM at all.

3. Data that’s delivered when and where you need it. CRM automation can deliver data and alert you to take action on the platforms you use most, such as mobile or laptop.

Keep in mind that this is just a sampling of what the combination of CRM and CRM automation can do. If you want to find out more, set aside 15 to 20 minutes for a customized demo. With such robust client data instantly and easily accessible by any professional on your team who interacts with clients, you can avoid cross-selling issues that can arise from:

  • Duplication of effort
  • Miscommunication
  • Selling a product that isn’t the client’s most optimal choice

But here’s what’s just as important: You will have everything you need to intelligently and quickly act on opportunities. Because CRM automation provides a holistic view of the customer, customer-facing professionals can put their interactions in the context of the entire customer relationship. They can more clearly see the best path to enrich their relationships with their customers.

Furthermore, you can respond quickly to new business opportunities thanks to timely, accurate and complete data. For instance, during a chat with a relationship manager, a client might mention that their organization is expanding into another state or country, or there might be an announcement in the news or on social media about a new contract or merger. CRM automation puts the information you need at your fingertips to take full advantage of the unexpected.

Find out more reasons why it pays to automate your CRM.

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