Benefits and Features of Financial Services CRM

Financial Services CRM

Using a Customer Relationship Management (CRM) software is a handy way of ensuring the best services for any business. It enables timely services as well as a personalized experience for the customers. A financial service CRM is software designed specifically to manage financial services effectively. It is a tool that enables one to keep track of all the activities and even to get rid of the manual labour of managing data.

A finance CRM solution is not only a niche industry but is also a must-have set of tools that enable businesses and financial advisors to deliver personalized and streamlined financial planning services to their customers. Its various benefits include the following:

  • Enhance customer retention: Personalization increases the speed of requirements of the customers. Through a financial service CRM, the customers can easily find what they are looking for. This delivers a great impact on customer retention. The CRM system records and tracks all the transactions. It aids the company to obtain complete information about their customers. This information is then used to provide the customer with easy operations and personalized treatment. 
  • Better customer service: The CRM system can personalize all engagements of customers by phone, email, and internet. As a result, it signifies that the firm is ready to help customers. Also, it helps the management to prioritize, collect and allocate the resources to accomplish customers’ requests. Service time becomes shorter and this generally enhances productivity.
  • More opportunities with segmentation: All the data in CRM can be collected and analysed through comprehensive reporting. This helps in getting more insights about the customers. Moreover, the trends, successful campaigns, and the transaction amount from each customer or category can be easily learnt. Also, this data is useful for the company to create cross-selling and upselling strategies

CRM systems for the financial sector aid insurers, banks, and investment houses to run their businesses and analyze data. The key features of financial services CRM include the following:

  • Contact management: It can be really tiring to keep tracks of all the contacts on different platforms. Financial Services CRM brings all the contacts at one place by importing them from different softwares and even spreadsheets. It allows one to customize fields for different contacts and gives a 360-degree view of the contacts’ journey with the company.
  • Automated emails: Financial Services CRM offers a vast range of solutions for email marketing and selling. These solutions include scheduling future email campaigns and follow-ups, integrating with Google Suite (Gmail), sending personalized emails, or keeping track of the e-conversations.
  • Sales and marketing automation: Financial CRM automates the workflows in such a way that it’s customizable according to the needs. As a result, interactions with the customers can be personalized. 
  • Built-in calling and texting: This feature allows the team to store all the contact details. 
  • Sales intelligence: Financial Services CRM gives an accurate report of all the sales activities. It also provides a detailed analysis of past sales figures and forecasting of the future campaigns.
  • Team collaboration: The team collaboration can be boosted with team inbox, mentions, and notes, where any team member can access the inbox with all contact information and make amendments.

In today’s tech-savvy world, CRM becomes a valuable tool and an important investment for the growth of a business. Finance CRM solutions are safe, user-friendly, customizable, and scalable software solutions that enhance the productivity of the team and invite more customers.

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