Thursday, November 13, 2014

4 Powerful CRM Reporting Tools for Mutual Fund Houses

Kevin heads a large mutual fund house and was looking to establish quality metrics, improve real time decision making etc. His solution lay in Customer Relationship Management (CRM) solutions that are capable of generating intelligent reports with the help of powerful inbuilt tools.


4 Powerful CRM Reporting Tools for Mutual Fund Houses
This is how Kevin utilizes the four powerful CRM reporting tools:
1. Assets under Management (AUM) reports
AuMs forms the core of any mutual fund house and in lieu of this; Kevin generates AUM reports that are daily, monthly or quarterly. For example, he can generate asset purchase reports pertaining to debt, equity and liquid. The reports can be further segmented according to location and distributors. To get a macro overview, he can prepare monthly AUM reports which pertain to fresh subscription, SIPs and redemptions.


2. Location-wise investor information lists
The quality and location of investors is very important for Kevin to tailor out focused marketing campaigns. Hence, he utilizes CRM reporting tools to generate location wise mutual fund investor lists. It gives out investor count, foreign investments and even online transactions. These reports even help out Kevin for creating marketing activities like investor meets, new scheme mailers and regulatory compliance purposes.


3. Monthly performance reports
Only performance that can be quantified can be improved. With the help of CRM software, Kevin now has key metrics that indicate how his distributors are performing and accordingly, can reward or train them. Alerts can be configured to notify him of any deviations from predefined performance levels. The monthly performance reports can include sales, Systematic Investment Plans (SIP), regional manager’s progress reports etc. It can also include monthly SIP trends which can allow Kevin to design marketing activities in order to push investors to apply SIPs.


4. Product wise performance reports
Kevin’s mutual fund house has a host of investment schemes in the market. In order to determine which product (scheme) is performing beyond expectations and which ones need a push for better performance, he prepares a product wise performance report. This report includes regions, branches and the individuals responsible for these AUMs. It also lists out the redemptions and their current market status.


Thus, Kevin was able improve scheme performance and ultimately achieve the goal of increased Asset under Management (AUM). No surprise that he was adjudged as the best asset management head by leading mutual fund media. If you want to be like him, there are many CRM solutions in South Africa and other countries that will fulfil your mutual fund objectives.


Related Articles:
1. 5 Point Strategy to Increase Footfall Conversion in BFSI Industry
2. 6 Factors to Consider when Evaluating Financial Services CRM

Wednesday, November 5, 2014

Enjoy 70% Sales Cost Reduction with Digital Sales Platform

5 Quick Ways to Enjoy Faster Lead Conversion for Telecom Companies

Communication with leads in the telecom industry should be relevant and focused in order to have any probability of conversion. Selling communication plans can be cumbersome if you haven’t identified the right market segment for your marketing campaigns as well. So how can you ensure a fast lead conversion for your telecom firm?
5 Quick Ways to Enjoy Faster Lead Conversion for Telecom Companies
Five Quick Ways to Enjoy Faster Lead Conversion for Telecom Companies:
1. Multi-channel Integration
Today’s interconnected world allows you to capture leads through web, mobile, social, branches and offline mediums as well. A CRM for telecom allows you to manage multiple channels of acquisition through a single window platform. Executives no longer have to hop through multiple windows thus increasing their processing speed and decreasing error probability.


2. Response time reduction
Good leads are often lost due to response delays. Telecom CRM allows you to automatically assign leads to the best executive, ensuring prompt action. A more efficient lead management will be the result of such automation. Your executives will have the ability to work on more leads thus raising the chances of conversion.


3. Streamlined marketing campaigns
Marketing campaigns should follow segmentation strategies to be more streamlined and effective. CRM solutions allow you to define and executive marketing campaigns that are targeted for more results. The efforts you put in for mass mailing, lead generation and execution, etc.. will translate in increased customer acquisition with maximum ROI. This, along with faster response time will ensure that your lead will get converted in the shortest possible time.


4. Lead nurturing

In a competitive environment you need constant engagement with leads to keep them from becoming stale. With the help of CRM, you can nurture them by educating about the potential benefits, informing about the latest product developments and offers. You can create automated lead nurturing strategies to this effect to maximize lead conversion with minimal costs.

5. Actionable mechanisms
With the help of CRM software, you can create mechanisms that will allow you to take timely and faster actions on your leads. Such mechanisms can include escalation matrix, centralized knowledge repository etc. For example, if a lead comes in, CRM solution will ensure that it gets assigned and worked upon within the defined parameters, usually within 24 hours. At the time of call, an executive should be confident about his product knowledge which can be backed up by a centralised repository to be accessed anywhere and anytime.


The above five ways will see you accelerate customer acquisition through faster lead conversions. Happy calling!


Related Articles:
1. Optimizing CRM in Telecom with Data Mining
2. Optimizing Customer Experience with Effective CRM Strategies
3. Innovation and the Role of CRM