Defining the right "Why" for a CRM: Empowerment

To maximize adoption and engagement with a CRM, defining a "Why" is critical.

When a Client Relationship Management (CRM) platform is being introduced, the “Why” is critical to define. The power of a CRM can be limitless as an organization gets exposed to the varying insights and efficiencies these platforms bring. If the “Why” does not connect with the organization or its associates the CRM is dead on arrival. A key ingredient especially for financial institution’s “Why”, employee empowerment.

A CRM for a Bank or Credit Union must be delivered to empower associates to win. A common response to a CRM being introduce is apprehension and fear. Many may feel the platform is a micro-management tool. If the focus of the institution is to empower its staff this will disarm everyone’s defensive responses. Empowerment puts associates first and they feel it.

How does a CRM Empower?

At its core, a CRM organizes important data and tasks for users. Brings to the forefront information scattered in different systems of an institution. Reduces workload to increase efficiency, allowing client facing associates to be actively in front of the customer. When developing a CRM implementation plan, automation is an important component. Prioritizing the elimination of manual tasks and streamlining data empowers everyone in an organization to win.

If designed and structured correctly for Banks or Credit Unions, a CRM should reveal who the client is, their accounts and loans, all KYC should live in the platform. Indicate when a client needs to be engaged, what solutions should be delivered, how much revenue generated to the institution. All pertinent data about the client and their businesses. Information should flow to all levels of the institution giving valuable insights, this empowers.

Change can be difficult, combining disparate systems is challenging, empowering those that engage the client daily motivates and inspires. CRMs used right ensures an organization’s best assets thrive, this is what empowerment looks like. Especially for financial institutions, employees and clients are the assets.