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Archive for November, 2015

The Universal Banker: Using CRM for Banks to Provide the Outstanding Service Customers Demand

November 24th, 2015 Ashley Harbaugh No comments

While consumers are increasingly engaging with banks through mobile devices, that doesn’t mean the job of the teller is dying – far from it. Bank tellers are instead evolving into a role that is quickly adapting to better serve customers’ new expectations and demands: the universal banker.

People enter brick-and-mortar bank locations because they need one-on-one interaction to answer a question, resolve an issue, or get educated on something specific. Those customers don’t want to sit around waiting, and they don’t want to be shuffled across departments. They want to walk into the bank, speak to the nearest representative, and have that representative handle their needs.

And that’s where the universal banker comes in. Customers are used to getting lightning-fast answers from a Google search on a smartphone – they expect from a bank rep the same in-depth knowledge, and speed in getting that knowledge, that the Internet delivers.

Getting Insight with CRM

A customer relationship management (CRM) system is an important first step in equipping bank reps with the information they need to quickly, and effectively, serve customers. Ignify’s CRM for Banks solution is specifically tailored to banking institutions’ customer service processes, and provides a valuable tool for productive, efficient customer service management.

CRM for Banks contains a comprehensive customer database that stores all bank customers in a central, standardized repository. Reps can simply type in a customer’s name in the search bar, and immediately be directed to the customer’s CRM record.

The CRM record provides a detailed outline of the customer’s engagement with the bank, allowing reps to instantly view the customer’s account transaction history, past interactions with bank reps, and specific bank preferences. A bank rep can use this information to identify cross-sell and up-sell opportunities that would best match the customer’s preferences and history, and can share this with the customer during their discussion.

The customer records also show multiple accounts that a customer belongs to. For instance, if a customer’s company and personal account are both with the same bank, that bank can see the customer’s activities on both accounts. There’s no need to toggle between different systems; CRM for Banks keeps customer information in one user-friendly place.

CRM for Banks’s customer record provides important customer information (contact details, etc.), and includes a history of the customer’s previous interaction with the bank (such as if they called in with questions, if they had any issues, etc.).

CRM for Banks’s customer record provides important customer information (contact details, etc.), and includes a history of the customer’s previous interaction with the bank (such as if they called in with questions, if they had any issues, etc.).

Access Information Quickly with the Knowledge Base

The quicker a customer gets what they need, the better. Giving bank reps the ability to quickly search and locate collateral that helps the customer is an effective way to speed up issue resolution.

CRM for Bank’s Knowledge Base is a consolidated database of all documentation, whether it’s in the form of marketing collateral, step-by-step guides, or answers to frequently asked questions. Bank reps can search for articles using keywords, or search by article category, and then select the article that is most helpful. Bank reps have the ability to upload and share links to articles in the database, making collaboration easier.

The CRM for Banks Knowledge Base provides banks a consolidated repository of documentation, allowing bank reps to find the articles that will help them better assist customers with questions, or requests for more information.

The CRM for Banks Knowledge Base provides banks a consolidated repository of documentation, allowing bank reps to find the articles that will help them better assist customers with questions, or requests for more information.

By keeping the customer experience at the forefront of customer service initiatives, banks will more smoothly transition into the digital era of banking without losing the personal touch of the brick-and-mortar location. For more information on how CRM for Banks can strengthen your customer service processes, please email banks@ignify.com.

Ashley Harbaugh is a Marketing Coordinator at Ignify. Ignify is winner/finalist of the Worldwide Microsoft Partner Award in 2014, 2013, 2012, 2011 and 2010, and offers eCommerce, ERP, CRM, Order Management and POS solutions based on the Microsoft Dynamics line of products. Ignify has been included as the fastest growing business in North America for seven years in a row by Inc. Magazine and Deloitte in the FAST 500 from 2008 to 2013.

How to Protect Customer Loyalty with the Loyalty Management Solution

November 20th, 2015 Ashley Harbaugh No comments

The relationship between a customer and a business is no different than any other type of relationship. It requires connection and trust by both sides to keep running smoothly, as well as commitment. And if a customer doesn’t feel they are getting value, or don’t feel appreciated, then they have no qualms about breaking it off.

A loyal customer base is the core of a company’s business, and keeping them happy is a crucial way to maximize business investment.

An existing customer already understands what you offer, and what sets you apart from your competitors – you don’t need to spend the time and energy trying to convince them of this. With industry thought leaders putting new customer acquisition costs at four to ten times more than it takes to retain an existing customer, businesses can better protect their profits by protecting their customer loyalty.

And companies don’t need to take wild guesses about how to accomplish this. With loyalty management technology – such as Ignify’s Loyalty Management Solution – giving businesses insight into loyalty program members and their behavior, companies can more quickly identify customer needs and how best to serve them.

Check out three ways the Loyalty Management Solution helps companies provide the consistent, targeted engagement that cements customer dedication.

1. Create Personalized Offers

Loyalty program members want offers tailored to their specific circumstances – and the more tailored the offer, the more likely it will convert into a purchase.

The Loyalty Management Solution offers a centralized customer database that provides all relevant information pertaining to the customer. Merchants can include any type of data parameters they wish, such as a customer’s birthday, anniversary, age, preferences, etc. Also, the merchant can identify if the customer is connected to any other customers in the system (e.g., a spouse, a child), and can create offers based on that relationship.

The Loyalty Management Solution provides a comprehensive look at loyalty program member information

The Loyalty Management Solution provides a comprehensive look at loyalty program member information – from personal details, to recent issues, to recent loyalty transactions.

2. Create Loyalty Tiers

Exclusivity works because people like to be thought of as special, unique – not like everyone else. But interestingly, people also like being part of a group – a like-minded group helps validate choices and preferences, which can in turn be a powerful motivator.

By creating different tiers in a loyalty program (bronze, silver, gold, etc.), as well as specific rules for gaining membership into those tiers, companies are able to create both a sense of community, and a sense of distinction. Award tiers also give customers a goal – if they want the more exciting perks that are in the higher level, they have an incentive to complete the actions that enable them to do so.

The Loyalty Management Solution enables companies to easily create multiple loyalty tiers and input the criteria customers must follow in order to gain membership into the tiers.

Easily create different reward tiers and the criteria customers must meet in order to gain access to that tier. Also tie reward bonuses into tier membership

Easily create different reward tiers, and the criteria customers must meet in order to gain access to that tier. Also, tie reward bonuses into tier membership (e.g. customers who reach 1,000 points are labeled as Bronze customers, and receive a $10 gift card upon entry).

3. Measure What Works – and What Doesn’t

If a company doesn’t have any insight into what initiatives are successful and which ones aren’t, then they won’t be able to pinpoint the initiatives that are contributing to that success, and which ones are hindering it.

The Loyalty Management Solution provides in-depth analytics and reports on loyalty program activity, enabling companies to identify reward response rates, redemptions, accruals, responses to promotional campaigns, etc.

The Loyalty Management Solution dashboard is also an excellent way for sales reps to see, at a glance, loyalty program performance and trends in one place. These quantitative measurements provide businesses valuable data, which in turn helps guide companies toward developing loyalty programs that deliver popular rewards.

Dashboards are a helpful way to see a quick graphical overview of loyalty program data

Dashboards are a helpful way to see a quick, graphical overview of loyalty program data. As the dashboard graphs are dynamic, sales reps can simply click on the graph – or parts of the graph – to drill down further into the data.  

Creating a loyalty program that not only generates an initial attraction but also increases customer lifetime value is an important way to both give – and receive – value from customers. If you have any questions about how to leverage Ignify’s Loyalty Management Solution for loyalty program initiatives, please email loyalty@ignify.com.

Ashley Harbaugh is a Marketing Coordinator at Ignify. Ignify is winner/finalist of the Worldwide Microsoft Partner Award in 2014, 2013, 2012, 2011 and 2010, and offers eCommerce, ERP, CRM, Order Management and POS solutions based on the Microsoft Dynamics line of products. Ignify has been included as the fastest growing business in North America for seven years in a row by Inc. Magazine and Deloitte in the FAST 500 from 2008 to 2013.