3 Ways Customer Intelligence Can Drive Sales Through CRM

In the past, any increase in the sales of traditional banking were more or less attributed to its soothsaying abilities rather than strong understanding of customer data within.

Customer’s digital engagement has been increased exponentially through multiple touch points including tabs, mobile desktops & laptop devices along with engagement through social channels with effective CRM in banking software. Such sources create immense amount of valuable customer insights which needs to be captured, analyzed & delivered.

The advent of digital is delivering enhanced business opportunities with in-depth customer intelligence.

The three key ways through which customer intelligence drives sales with CRM for banks are listed below-

1. Actionable customer 360 view-
A unified banking CRM platform provides a single truth of the customer by meshing together information from multiple systems on a single window. It configures & develops one single view of customer data like contacts, activities, service requests followed by relevant attachments eliminating siloed data flow and departmental bottlenecks.

Complete interaction history in CRM for banks helps users with better service & query resolution. Bankers can use the 360 view to segment customers for richer loyalty campaigns.

2. Identify customer patterns-
With the help of machine learning and artificial intelligence through banking CRM, bankers can combine customer information distributed across multiple systems to identify patterns from customer purchase history, current financial transactions, online behavior etc.

These patterns can help understand brand loyalty that can be analyzed through an individual’s buying pattern based on demographics, financial product holdings and user response. These patterns can also help with frequency analysis that generates personalized cross sell offers that significantly boost business revenues through CRM in banking.

3. Smart marketing campaigns-
Bankers can design and execute smart campaigns through campaign designers with CRM in banking that delivers a targeted reach with personalized messaging. With response based triggers, CRM can instantly capture responses and suggest or automate the next best action. Targeted multi regional and multi wave campaigns can drive large qualified leads to conversions.

Micro segmentation of customer data followed with advance analytics can be done with banking CRM which helps in scoring customer loyalty. Inactive customers can be identified & can be reached out with attractive offers through campaign analysis. For example, a bank can identify its customers who have huge credit card spends and offer them higher loyalty points on each swipe.

CRM for banks provide solutions that can empower workforce to get actionable customer insights through integration with varied touch points & omnichannel sources.

CRMNEXT, a unified banking CRM software, provides a holistic customer 360 degree action center that enables to prioritize tasks, leads, opportunities, cases etc. with smart actions, supporting information, interaction history and collaboration solution.