Bank CRM Enhancement Tips | URVA

Every customer relationship manager can relate to that uneasy sensation of engaging in an unpleasant interaction with a customer. Have you ever wondered where the frustration came from in that brief moment against your welcoming and cheery greeting? 

When we started paying close attention to these cases, we realised the frustration of these angry customers did not originate with the customer relationship manager. 

If you think about it, when a customer reaches out to a relationship manager, it means the customer has a problem that needs to be addressed. On the relationship manager’s end, this can leave them fighting an uphill battle even before hearing the problem. 

Customer relationship accounts for what happens leading up to the phone call. Being proactive in your approach to customer experience can help your team solve these tricky customer situations and create a long-term game plan for problems that may occur down the road.

Ready to build a better experience for your customers? Check out these tips that can help you get started.

How to create a seamless CRM experience in the banking sector

Define your goals – Describe your goals, and consider how you want to help your company succeed. In addition, it’s imperative to define the list of the requirements and functions of the final CRM solution.

Involve all the stakeholders – Customer experience is primarily attributed to whom they interact with during their journey in your bank. If relationship managers lack the tools to do their job efficiently, it can affect their ability to perform and the customer experience. 

To uplift your employees to improve relationship management

  • Identify common pain points through employee feedback tools
  • Review the current process (from contact centre protocol to CRM software)
  • Amend processes to foster a positive customer experience

Overview of your customer journey – Familiarising yourself with the customer journey from start to finish helps you recognise what your team could be doing better if you put yourself in the position of your customers. Following that, you can pinpoint problems with your team and develop solutions. 

Know your position – Looking at the competitive level in the market can always go right, especially when making customer relationship management strategies. Reviewing the internal process is good, but knowing your position in the market and how you stand out from the competition is essential. Grabbing opportunities and handling customer relationships can teach you much about the market. 

Omnichannel Customer Relationship Management

Today’s empowered, connected banking customers demand services according to their individual interaction preferences. They use one or a combination of communication channels, such as WhatsApp, online support, chatbots, mobile calls, in-person, etc., for queries to open an account, make payments, apply for loans or manage existing accounts. Customers quickly move and switch between channels: research online, review on social media, call the contact centre, and return to WhatsApp for communication.

Few challenges that a customer relationship manager faces

  • In times of instant consumer delight, it is quite a challenge to deliver exceptional and seamless customer experiences that span online, offline, social media, WhatsApp, etc.
  • A disjointed customer relationship management across divisions, geography, or product lines
  • The technical complexity of connecting experiences across channels

This leads to a fragmented customer experience, often resulting in an unhappy customer.

Omni-Channel is the key to driving exceptional customer engagement and better customer satisfaction.

Omnichannel messaging – Customers can text from any channel, whether WhatsApp, Facebook, or other media. All customers can reach out and be assured of feedback from the relationship manager anytime and anywhere. 

Quick feedback – One-click updation of customer information simplifies things for relationship managers. Since all the conversations are in one place, it becomes easier for customers to raise issues and managers to address them with quick feedback. Similarly, customers can give feedback on the availed products and services. 

Personalisation – One-on-one approach for interacting with customers and tracking the team’s progress gives the customers a personalised experience. The customer feels heard and included in the whole process building their trust and loyalty with the organisation. 

Measure performance You can easily measure analytics, get real-time dashboard views and make decisions accordingly for a better CRM experience. 

One Tool to Rule Them All

Hopefully, your business will reach the point where sticky notes no longer cut it for keeping track of your customers — if it hasn’t already. When that happens, a CRM is an essential tool for establishing and maintaining relationships with your customers.

It will help grow your business and make your employees and customers easier. When you have the right tool for the job (and use it properly), you’ll be amazed at how quickly you can grow.