Epic CRM Fail: Big Brother

Financial Institutions must be careful when approaching a CRM implementation.

Client Relationship Management (CRM) platforms are extremely powerful when utilized the right way. But can be detrimental to an organization if leveraged incorrectly. Apprehension within a financial institution can be high when implementing a CRM due to uncertainty. Introducing a CRM to be a micro-management tool will ensure it fails even if it is only perception. This is even more true for Banks and Credit Unions.

To maximize adoption and engagement there cannot be a tone of punitive recourse for inaction by associates. Sure, a CRM at its core manages the activities and opportunities users enter. Reports will show who is contributing and who is not. But this should not be the focus of an organization implementing a CRM. The institution needs to communicate how it will win by leveraging this new technology, how users will be more empowered to succeed, and most importantly how the client engagement will improve.

Before deciding on purchasing a CRM a financial institution’s executive committee needs to determine and agree on the “Why”. It must be layered in transformation and empowerment, not Big Brother looking over everyone’s shoulder. The users hold the keys to the data that will give an organization powerful insight to engage and grow their client base. But if associates feel chained to a platform only used for data entry that populates management dashboards, resistance and dissention will happen.

By defining the “Why” across the institution, will ensure an unmistakable statement is delivered connecting the organization. Reinforcing strategic objectives and how a CRM is critical defuses employees defenses. This approach ensures associates are motivated partners in helping the Bank or Credit Union to win.