5 Ways to Empower Customer Service Teams with a CRM Solution

Customers want to ask for advice, register complaints, share feedback and request new services through their preferred channels whenever convenient. But, the turnaround time and quality of each interaction needs to match their expectations. To stay ahead of competitors and encourage existing customers to make new purchases, customer experience optimization or CEO is the way forward. If your customers wait in long queues or wait endlessly to connect with a call center agent, it is time to give serious consideration to implementing a CRM solution to manage relationships and simultaneously reduce pressure on your hand-picked employees suffering from stretched hours and back-to-back irate customers.

Consumers often assume that companies with the largest customer bases have the best products and services, I often stay clear of their brands, knowing that unless they are dedicated to focusing on CEO, I will have yet another frustrating experience with customer service. For example, I was earlier subscribing to the most popular mobile service provider in my city. A year after handing over all required documentation and subsequently being issued a connection, I received a call from an agent saying my number was registered to someone else and that I could retain my number only if I submitted my ID proof and address verification documents! Initially, I was frightened by the thought of losing a number that was registered in around a hundred places including my kids' school. A few weeks after submitting the required documents they had lost, I ported to a new service provider and tweeted my experience to about two hundred followers.

After working abroad for a few years, I returned to my hometown and considered subscribing for multiple services from a single company. My logic was simple - I could save lots of time and prospective headaches by submitting my KYC and address proof documents once, but have access to their mobile, broadband, digital TV and website services. The account ID they would assign me would be the key to all their products and services making interaction quicker and more effective.

Unfortunately or fortunately for me, I learnt in my first conversation that this was a large corporate with millions of customers whose key focus was profitability without the fear customer churn. I called a number they had advertised in a local newspaper and after sharing my key details including the product that interested me, my call was transferred to another agent..she asked for my details again and had no idea what my conversation with the other agent was a minute back! I didn't want to spoil the agent's day - she was only a pawn in the hands of an insensitive organization who was following her trainer's instructions. After sharing my contact information and other details a second time, I informed her about my interest in a digital TV connection. 

"Sorry, we have discontinued digital TV services," she responded.

"Oh! I saw an advertisement for your digital TV services in last week's Sunday Mail! Anyway, forget that then. Can you send a person to complete the formalities for a broadband connection?" I said calmly.

The agent replied quickly, "Our digital TV services are only available for metros. If you are interested in our broadband services, I'll need to transfer your call, can you hold the line for...."

I disconnected the phone before she could hear my frustrated groan - I had spent eighteen minutes talking to the wrong call center agents..If my call was transferred again, the third agent would again ask for my details before discussing their products and services. Why can't the company see the obvious gains in a well integrated Telecom CRM, I asked myself. 

Customer experience optimization is the key to gaining momentum in your relationships and reaping the benefits of loyal customers that openly advocate your products. Perceptions can be created through any department, but, it is common knowledge that customer services is at the center of influencing customers' mindsets and propensity to buy again.

5 ways to improve customer services with effective CRM solutions:

A customer's details page
1. Single interface for holistic customer information - a 360 degree view of each customer record with information populated from multiple objects and systems ensures service personnel can provide a quick and effective resolution for almost any case, issue or request.
  • Activity management - ensure the CRM solution displays all open and closed activities related to a customer record like appointments, tasks, ToDo lists, etc. to enable quick tracking during interactions. In addition, alerts and escalations should be incorporated for unattended activities nearing their deadlines.
  • Parameterized reports - enable users to view graphical representations of data pertaining to a single record to quickly assimilate the next best offer or identify bottlenecks.
  • Multi-system integration - populate information through multi-system integration to ensure all users are on the same page and can collaboratively work towards providing solutions.
Bucket report for feedback
2. Easy access to feedback forms - collating customer feedback ensures you can understand their needs and improve your services and cross-selling capabilities by surpassing their expectations.
  • SCRM - create company accounts across networks to ensure customers find it convenient to share their thoughts and complaints across geographies. Capture these conversations with social CRM tools to enable a quick turnaround time and improve customer perceptions.
  • Website - ensure customers can register their displeasure or service requests through your official website with web capture forms that are automatically captured on the CRM software and assigned to specialists. Also, ensure clear visibility for relevant contact and toll free numbers on all webpages.
  • Branches - ensure lower call volumes and shorter queues by implementing an effective CRM solution for all customer facing employees to enable access to a holistic customer view. 
Configuring a keyword search 
3. Social CRM for monitoring customers' conversations - social networks are a critical channel for understanding existing and potential customers to improve services and business strategies. The CRM solution should facilitate creating dynamic assignment rules and escalations with a negative offset for tweets and conversations to stay competitive.
  • Keywords - configure keywords to pinpoint and list conversations pertaining to your brand. Assign and track these important comments with customized tools to avoid customer churn.
  • Profiles - study customer profiles from social networks to gain a clearer understanding of their preferences and build better rapport.
  • Competitors - use keywords relating to your competitors for monitoring user generated content and improving business strategies. It is also critical to ensure competitors are not bad mouthing your products to generate a negative perception among your customers and trigger churn.
SLAs for a specific category
4. Complying with stringent SLAs (service level agreements) - CRM solutions need to be flexible and future proof to ensure continual improvements or changes in compliance regulations can be incorporated into existing business processes and strategies. SLA rules are critical for ensuring the customer services team is performing at par with expectations and should be easy to create when new products are introduced.
  • Category-wise SLAs - ensure each case is automatically assigned an SLA on the basis of its category or similar criteria using the CRM software's customizable rules. Users should have clear visibility for these timelines to work efficiently and comply with internal and external regulations and timelines. 
  • User Help - display help tutorials for users on the basis of a cases' category to ensure clarity when communicating with customers.
  • Escalations - create individual external and internal SLAs with their own set of assignment and escalation rules on the basis of their criticality.
An approval record
5. Add approvals to the workflow - set up a workflow for approvals to automatically or manually assign records to approvers for their review and feedback. This will help to create a transparent audit trail and clear accountability helping to improve the quality of resolutions and hasten turnaround time for cases.
  • Avoid embarrassing mistakes - incorporate a carefully designed approval process for cases belonging to a specific category where false commitments can set off a chain of negative feedback and subsequent churn. CRM solutions can automatically use a customized execution criteria based on a specific set of values for each scenario to assign records in a specific status code for approval by specialists or designated approvers.
  • Publish approved solutions - create a centralized repository of solutions for frequent customer queries to shorten call time and provide consistent responses. Ensure only approved solutions are accessible to users by limiting the 'publish' option for appropriate senior employees.
  • Additional details - interests, preferences, budget
Customers no longer hesitate to share their dislikes or frustration about brands that disregard customer satisfaction and though many organizations increasingly publish fake reviews on social networks, there are manifold honest opinions in the mix that can be leveraged to improve a particular product or service and slowly regain a sizable wallet share. 

Qualifying a lead is just the tip of the iceberg - it's the follow up which can make prboofits soar through precision in up-selling/ cross-selling and building rapport - usually the result of successfully implemented CRM solutions. A happy customer only needs to spend a few seconds clicking a 'like' or 'follow' to let his network know your organization is true to its word and worth checking out. I won't elaborate the flip side in a similar scenario, but, in our always-connected world, consumers only trust the opinions of relations, friends, neighbors and colleagues!


5 Ways Insurance CRM Solutions Help to Curb Customer Churn

The benefits of improving relationships with an existing set of customers are much higher than from pursuing new prospective customers. 'Customer retention' should be a critical part of any insurance company's strategies, especially for those seriously interested in increasing bottom line revenues. With respect to the insurance industry, I'd like to highlight the concept of the Leaky Bucket. In the analogy between a bucket of water and an insurance company's clients, either case needs a consolidated structure so as to hold the content - neither can sustain their contents in presence of a hole or breach.

Below are a few stats advocating customer retention and indirectly endorsing customer servicing for your leaky bucket:
Losing customers to competitors
  • An increase in customer retention by 5% increases the business profits by at least 25% (Source: Gartner Group, 2003) 
  • The probability of selling to an existing customer is 60-70%, in comparison, there’s only a 5-20% probability that you will sell to a new prospect. (Source: Marketing Metrics) 
  • Just a 10% improvement in customer retention results in a 30% increase in the value of the company. (Source: Bain & Co.) 
  • 80% of your future profits will come from just 20% of your existing customers' resources. (Source: Gartner Group, 2003)
To effectively plug the hole in your leaky bucket, an effective CRM solution will ensure the following -

1. True customer view
It is said that a problem clearly stated is a problem half solved. A good CRM software helps you find a singly unified view of a customer - the entire history of your relationship from inception. This includes having a 360 degree view which gives a complete end-to-end illustration of the customer on a single platform. Besides, it always beneficial to have a strong client relationship, it increases word-of-mouth advocacy and often generates new leads.

2. Influence repeat sales
Ensuring a superlative customer experience through efficient customer service management inevitably leads to a long lasting positive perception that paves the path for fresh cross selling/ up selling opportunities.

3. Forecast customer needs
With a detailed view of all the service interactions, purchases, average expenditure and claims, anticipating the prospective offers that would entice the customer becomes easier and more accurate. CRM in insurance helps in data mining the relative information provided by customers to unwrap those products and premiums most significant to customers, thus thrilling them by introducing more relevant policies to match their requirements.

4. Pinpoint poor performers and unpopular products
CRM in insurance enables companies to carefully monitor the success of their business strategies by enforcing workflows and security for customer information. Products which customers continually complain about can be easily spotted through customized escalations and alerts. Also, managers have real-time updates for new sales and clear pipeline visibility for all deals in the pipeline. 

5. Adapt to changing customer expectations
Collating and viewing customer information is pointless without actionable intelligence - this valuable information should be leveraged to continually create better products through a clearer understanding of changing customer needs and expectations. CRM solutions enable users to slice-and-dice data for analyzing existing and prospective customers' relationships with their company and devise new means to increase customer satisfaction through all touch-points.

Insurance companies face intimidating challenges through continually changing regulations, litigation and competition, but, identifying potential bottlenecks and poor performers, ensures consistent growth in the mid and long term. In this decade, removing the complexities of finding new customers and instead focusing on servicing existing relationships is the key to staying ahead of competition in the long run. Future proof CRM in insurance is the silver lining to a decade packed with volatility and new generation products.


How a Friend Made their Startup Profitable in a Few Months with an Effective SaaS CRM Solution

Science fiction films and T.V. series paint a bleak picture of the future - war, plague, floods, cannibalism, etc. And, if that isn't enough, there's always the newspapers talking about corruption, banking fraud, inflation, unemployment and more. There is a flip side to this realistic or unrealistic pessimism - the exponential growth of technology and with it, the speed at which people can connect to exchange ideas or learn through osmosis. 

One of today's most long lasting trends is facilitated by newer technologies - social networking. Obviously, businesses want to remain businesses and not abandoned office spaces, therefore, incorporating 'social customer relationship management', popularly called social CRM is the obvious next step when considering an Apple-esque progression towards customer-centricity. To simplify this for stay-at-home parents, students and elderly people, this is like the story of a "geek with zits" who becomes a "hip hop phenomenon"  overnight. My friend (Kabir), a nobody in school, became our city's most popular private investment consultant for his particular field of specialization by following the right advice and believing in customer experience optimization versus a focus on profit margins.

After graduating from business school, Kabir, traveled around the world for a few months to decide his career path. While looking at some second hand book titles on Kolkata's Free School Street, he chanced upon one by Paul Greenberg - the guru of social CRM..it brought back memories of his professor's advice, "Kabir, you'll never take the trodden path! But, remember, you always need a pathfinder and facilitator to avoid drowning in the ocean of humanity and beat the cut throat competition." The professor put his hands on his shoulders, "Make the most of each day, leave the daydreaming for post-retirement, the world is full of surprises and friends to make!"

He returned home and found his school friends were either working abroad or freelancing as consultants. During the fag end of the trip, he discovered that deep inside, working purely for filling his coffers would be no fun - standing out from the crowd and making a difference in people's lives is what he really wanted to do. To earn some pocket money he'd given advice on investments to a large percentage of his relations. Now, he needed to take this to the next level. But, Kabir knew consultants were easily available everywhere, why should anyone want his advice on what stocks and shares to buy?

A few days later, while glancing through his high school yearbook, an idea crossed his mind - he could use his business school education and tech-savviness to help others make money and then himself. No, he wasn't going to post a video on Kickstarter, but, do something traditional with a modern twist!

The next morning a few of his close friends were crowded around the breakfast table to hear about his brainwave!

"We'll call it 'Zero m.p.h.'. Each one of us will specialize in giving advice to our clients about investments in our field of expertise. Janet can recommend rare wines as an investment to high net worth individuals, Ahmad can suggest the best antiques as long term investments to city folks, Viraj will share his expertise on all things artistic and I'll work on the marketing and rapport building to generate clients for each of you.

"You really think we can support our consultancy with the overheads of rent, hardware, software, catalogs...," Janet cut in.

"It's the 21st century - the first few months will require our collective pocket money, but, after that, it will all be revenue for financial advice to our clients, most of whom will be art collectors or sommeliers thanking us for our expertise and timeliness. This is how - I was part of a project in business school about evaluating CRM solutions for different industry verticals and discovered a Software-as-a-Service or SaaS CRM solution with an  affordable subscription fee and all the necessary features for effective sales automation, marketing and knowledge management," Kabir tried to explain.

"My cousin spent three months implementing a CRM software a few years ago and it bombed! It took him six months to get back his father's old customers!" Ahmad said loudly. 

Kabir knew it would be an uphill task initially to convince his friends. He had therefore, already paid three month's subscription for four users and customized the SaaS CRM solution to match his prospective business strategy and workflow. It was time to enlighten his close friend and future business partners. "I've set up a CRM solution to knit all my proposed business processes together, along with keep all users in the loop about new leads and prospective partners. What's  more, since these are investments where sharing information with our clients instantly is vital, the CRM software will enable us to access customer information everywhere through our mobile phones and tablets. All updates about new customers and deals can be added or viewed through web enabled gadgets around the clock."

"To answer Janet's earlier objection, we'll all work from our own homes, use our existing gadgets and most interestingly - schedule newsletters and brochures to be sent through the CRM software's marketing automation tools to email various customer segments with details of the best investments in art and antiques. Also, Janet will use Pinterest to share her latest suggestions with hip folks interested in a connoisseur's opinion of where to buy the best imported wines!" Kabir continued confidently.
Marketing automation for enhanced email campaign management
I spoke with Kabir a few months later after seeing his picture on the cover of a local magazine. He described his experience with CRM software and also how they had leveraged conversations containing specific keywords on Twitter to capture leads through social CRM. His team of friends had then sent personalized mail blasts and run email campaigns to create a large database of prospective customers. By carefully targeting each segment through multi-channel campaigns with details of the most relevant products, they had successfully created numerous customers in a short time. The feedback from dead leads was used to add new products to their business and redesign strategies for certain segments. The CRM solution's marketing and sales automation played a strategic part in continually improving their customer base and retaining relationships with profitable customers.

Kabir's friends who initially thought the CRM solution had a limited life and poor ROI, gradually began to understand the long term benefits of continually redesigning strategies to improve market wallet share with key CRM software features like real-time insights, clear pipeline visibility and social analytics. 


How Making Employees More Sensitive to Customer Needs Improves Customer Retention


One of the most critical strategies that businesses should keep in mind is to 'retain' their customers, rather than scramble to find new ones. A loyal and satisfied customer will automatically bring new customers and new business for a company. However, one of the most important ways to keep customers happy and satisfied is to address their complaints and make them feel that you are genuinely interested in their feedback. This can only be done with the help of employees that are sensitive to customers and their feedback. Do you at times feel that the communication between Pi and his tiger in the movie/ book, Life of Pi, was better than the communication that you have with your employees? Well, that's because it probably was! You need to work towards sprucing up the communication between you and your employees so that you can watch your business increase exponentially.

Encouraging employee feedback for timely action
Any organization worth its mettle knows that employees are the first customers of a company. Hence, employees need to be kept happy, so that they share genuinely good feedback for the company, even when they're not on their company premises. The feedback that your employees may give you is something you will not get from the most insightful and detailed marketing analysis.

Details interface for training program
Some CRM solutions facilitate training management with an object for collecting trainees' feedback for each session. To explain, asking your staff to undergo cross-selling training without understanding if it is helpful in a real life scenario is a waste of time - analyze responses to each training module and improve them, if necessary.

If the business mantra that you follow is 'The customer is always right', then understanding and treating your employees as your first customers will make you realize where you're going wrong and related corrective measures.

Using feedback to improve performance and product offerings
Make your employees realize that immediately addressing complaints is the one way to win over a disgruntled customer. Addressing complaints is the best way to not only win over customers, but is also a great way to know where your business is going wrong. Response time is vital, make employees realize that the sooner they provide a resolution, the easier it will be to win over the customer.

Hold workshops where employees can be divided into pairs, each taking turns in being an angry customer and a customer relationship officer. This way, they can know where they're going wrong and how to reach a solution. Brainstorming in such sessions will make all the difference and will give employees a new perspective. 

Running a call script wizard
Also, ask them to collate feedback and take surveys at the end, so that they can evaluate their performance and find out where there is room for improvement and work on it. A CRM solution's call scripts ensures a smooth call flow during these exercises, which in turn allows employees to gather more information by simultaneously building rapport during the interactions.

It's no secret that CRM software is very effective for addressing any customer related issues. Thus, to make the workshop a resounding success, keep incentives and bonuses for employees that make it their duty in the future to address complaints through the CRM software which will give them access to a holistic customer view and centralized solutions database. In addition, a CRM solution's content library can be used to share information internally and analyze available knowledge collateral.

A movie that managed to strike a chord when it came to teamwork and employee motivation was Outsourced. In this film, employees complain that they're not able to process complaints nor sell items because they don't understand what they're selling. So the manager, in a smart move, not only orders a box of the products, but also offers the employees an incentive, stating that the one who performs best, gets to pick his favorite item and take it home. A simple, yet effective strategy.

Sharing holistic customer views to improve collaborations
The best way to ensure that employees realize how valuable customers are is by helping them understand and embrace the CRM solutions that the company has taken such pains to implement. CRM software is an all-in-one package that can help to retain customers and increase profits, not to mention, help improve internal communication and collaborations in an organization. However, it may be an uphill task convincing employees to login to the CRM software without clearly explaining its all around benefits. After all, let's face it, salaried employees will only be truly motivated to use a CRM solution, if they are convinced that it can help them perform better by automating repetitive daily tasks and enable them to build rapport with customers to improve relationships, thereby increasing cross selling and up selling opportunities. 

A renowned CRM vendor found from their survey that nearly 80% of senior management executives stated that employee resistance was the biggest hurdle in implementing effective CRM solutions.

So, genuinely convincing employees about the strategic benefits of CRM solutions could go a long way in ensuring that they use this software religiously. One factor that may motivate employees into using CRM software for better customer service is that it helps increase employee efficiency. For example, mobile CRM aids in enabling salespersons in the field receive accurate and updated information on customers' needs. Thus, they can immediately visit and deliver a product to a specific customer as required. 

'Lead qualified' alert message for logged-in user
Furthermore, CRM software can be used to store and share real-time information related to existing and prospective customers through employee updates and multi-system integration across touch points. Additionally, important updates to customer information can be displayed to the record's owner through alerts and the CRM solution can ensure that all related employees are on the same page regarding recent developments. This helps greatly, to elaborate, a salesperson will not follow-up with a hot lead until their service request is not closed, thereby making sure the person has a positive perception when contacted. 

Ensuring optimal performance from customer facing employees
One skill set that a lot of employers tend to underestimate is soft skills. Addressing all customer complaints politely, even if the customer is absolutely livid and screaming his heart out, is a quality that any good employee must learn to cultivate. Have you noticed how most high end businesses have employees that speak in a deliriously cheery voice all through a complaint call by an angst riddled customer? There is a reason for that - a dreary, dead and disinterested voice is often reason enough for a customer to scream and complain into a telephone mouthpiece. Hence, having a small but effective soft skills talk with employees could go a long way in fostering employee-customer bonds.

At the end of the day, many customer services employees believe that they are merely salaried workers in a company and have no contribution towards the company's profits. However, the management needs to make employees understand that their performance will be judged on the basis of their customer interactions and satisfaction levels. Also, with a successful CRM implementation, employees can be offered incentives to cross sell using CRM tools that simplify identifying the most appropriate products based on customers' needs, purchase history and budgets. 

Custom SLAs for 'Call Center' category cases
Customer services management solutions ensure managers can pinpoint their top performers and bottlenecks through alerts and reports. By segmenting cases in linked categories with their individual SLAs (Service Level Agreements) a foolproof strategy can be enforced for compliance and turnaround time regarding various types of cases and requests. Also, customers' complaints about the same call center and branch employees can be pinpointed and escalated to relevant reporting managers through the CRM solution.

As mentioned earlier, every successful business believes that the customer is king. To make existing and potential customers believe they wear a crown on their head when interacting with any department in your organization - consistent active listening and enhanced customer experience must be maintained always. Your  CRM solutions will motivate employees to be more sensitive to customer needs and make each customer interaction mutually productive and enjoyable.


3 Ways CRM Solutions Ensure Efficient and Secure Onboarding for Credit Cards

Credit card customers have undergone a massive transformation. This transformation, contrary to expectations, has worked in favour of the credit card companies. As customers gain more knowledge, awareness and the typical ‘once bitten, twice shy’ attitude towards credit cards, financial services organisations selling them are needed to adapt to this evolved customer base.

The fact is that the concept of selling credit cards has evolved over the years and there has been a rather dramatic change after the global meltdown in 2008. While earlier organisations marketed their cards as easy money and instant credit, today the products are more focused on security, assurance and trust. Ensuring these three factors are covered is essential for a positive customer experience which leads to loyalty, advocacy and repeat business.

There is a lot of focus on customized financial solutions and each credit card company is seen launching a wide range of cards suited to different customer segments - this is precisely where CRM comes into play. Critical in terms of product development and instrumental in managing, monitoring and retaining customers, new age CRM solutions in the credit card industry come loaded with features that today's financial services companies cannot survive without.

An effective onboarding process for credit card customers ensures a clear and positive perception is created in customers' minds from scratch. Marketing, sales and services need to work closely to ensure commitments to customers are realistic and their products keep improving. 'Customer relationship management' is a deciding factor in making sales and keeping customers,

I  Maximize lead generation and conversion
CRM vendors today develop tools and applications that can help streamline and enhance all the processes within a credit card business. A snapshot of key benefits from a CRM Solution for the first stage-

  • Optimizing campaigns - Using CRM software, it is easier to create specialized multi-channel campaigns for specific customer segments. Templates, mailing lists and mail blasters ensure marketing communications are consistent and relevant to each lead 
  • Tracking lead generation - A CRM solution allows companies to track the progress of its marketing campaigns and leads that are generated. These leads are also automatically assigned on the basis of their territory, product, rating, etc. across teams. At the end of a campaign it is easy to quantify results and improve future marketing strategies by analyzing a campaign's record and reports.
  • Increase cross selling and up selling - A holistic view of existing and potential customers created from numerous touchpoints and multi-system integration also increases lead conversion ratios through real-time insights of past purchases and the latest needs. Real-time analysis of best suited products using analyzers for each customer interaction ensures a better customer experience.
II  Hasten approval workflows
Once documents reach the branch, CRM solutions can speed up the entire process of approvals. The processing of the documents for credit cards is simplified by the CRM software because it provides a step by step methodology for the document verification process that not only reduces repetitive activities, but, also makes the process more effective.-

  • Simplifying document collection and upload - The process of collating documents as per regulations is simplified when customers are categorised on the basis of their level of interest. Workflows with status codes, alerts and enforcement rules, ensure compliance by users. Also, CRM solutions facilitate quickly capturing pertinent details from documents' soft copies through magnified attachment preview features and merge rules for mismatching records related to a single applicant.
  • Secure sharing - Sharing information from the CRM solution with an owner's prescribed read/ write permissions, allows departments to coordinate more efficiently and request pending information from customers. A centralized repository like DMS or Workspaces also makes it easy to access information from any department or location around the clock.
  • Auto-assignments for approvals - Using filters and execution criteria for records with an 'approval required' or similar status, CRM solutions can assign the record and notify the designated approver with a follow-up action if it is ignored. Similarly, after a record is approved/ rejected, it can be accordingly reassigned to relevant users.
  • Help alerts - tutorials and messages can be displayed for users when reviewing records to ensure minimal grey areas and better compliance.
III  Track dispatches and delayed deliveries
CRM solutions also help speed up the process of dispatching credit cards and welcome kits by providing instant updates on each stage between embossing a card, handing it over to a partner for delivery and receiving a customer's signed receipt.

  • Single view for each dispatch - CRM solutions enables users to create a single record for each dispatch along with all its details, current stage and all related documentation/ notes.
  • Automated messages to customers - An auto-populated message can be sent to customers with a personalized message pertaining to their dispatch with date and vendor details.
  • Escalate delays - a CRM software's rules can ensure that any complaints related to undelivered or missing credit cards are instantly escalated to relevant users and blocked.   
  • Invite feedback - CRM solutions ensure that customers can share feedback through their preferred channel - telephone, email, social media, etc. and assign it to relevant roles for prompt action. 
To sum up
The onboarding process for credit cards is complicated and requires an extremely secure environment to avoid any glitches in protecting customer information. A financial CRM solution ensures optimal efficiency is ensuring quick conversions, approvals, dispatches and case capture. The entire process can be carefully monitored and automated to avoid any breaks in the workflow or compromise on security. One of the key business tools today, social CRM, captures customer feedback and ensures new products are innovative and highly competitive in an unpredictable economy.