Financial Services CRM pros and cons
The following are the pros of using a Financial Services CRM:
We have listed a few of the key Pros of Financial Services CRM. However, there could be more.
Sales Productivity
1. Automate repetitive tasks so that sales employees spend less time in data entry & more time on actual selling.
2. How Financial Services CRM can help you:
– 11% to 60% increase in sales productivity.
Sales Pipeline Optimization
1. How Financial Services CRM can help you:
– 4% to 22% decreased sales cycle.
– 4% to 28% higher conversion rates.
– 3. 5% to 37% improvement in client retention.
Sales Target Management
1. Know the status of sales targets achieved & balance by both your company and sales people.
2. How Financial Services CRM can help you:
– 1. 5% to 35% higher annual growth rate.
– 2. 7% to 47% revenue increase per sales person.
Lead Management
1. Effectively managing, assigning & converting leads.
2. Map the conversions of leads and knowing prospective revenue.
3. How Financial Services CRM can help you:
– 15% to 39% improvement in lead conversion rates.
Follow up Automation & Sales process Streamlining
1. Never skip a lead, schedule sales follow ups, meetings, etc. and set reminders for the same.
2. Save time by using one software for sales and follow up activities.
3. How Financial Services CRM can help you:
– 4% to 55% decreased sales & marketing costs.
Data Management & Security
1. Maintain a data storage of all your leads, clients, products / services and sales.
2. Have no data loss when employees leave your organization.
3. Save time and effort in accessing lead & client details.
Data Analysis
1. Getting accurate & real time analytics about:
– Sales
– Leads
– Products / Services
– Clients and much more.
The following are some cons of Financial Services CRM:
You may experience these due to any defects in the installation, implementation and / or usage of Financial Services CRM.
1. Invest time & efforts to analyze and document the following:
– Business process
– Sales cycles
– Short comings in your current process
– Technical & functional requirements in the Financial Services CRM
2. There could be failure in adopting the Financial Services CRM if you have not assigned a person in charge to ensure:
– The employees know how to use the CRM
– The CRM is being used religiously
3. The cost of the CRM could be an undesired expenditure.
Conclusion:
Get more details about a CRM for your Financial Services business right here.
For more reads you can proceed here: Financial Services CRM
Do you want an obligation-free consultation on CRM Solutions for your Financial Services business?
Contact our CRM Solution Architect via phone or email – Click here
Chat with our CRM Solution Architect (Mon-Fri, 10 am-5 pm IST) – Click here
