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CRM Techniques Effective Methods of M ember R elationship M anagement

CRM Techniques Effective Methods of M ember R elationship M anagement. CRM Techniques. What is CRM? Credit Union CRM Projects Avoiding CRM Pitfalls. What is CRM?. CRM is actually MRM Tools and techniques = attracting and retaining members

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CRM Techniques Effective Methods of M ember R elationship M anagement

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  1. CRM TechniquesEffective Methods of Member Relationship Management

  2. CRM Techniques • What is CRM? • Credit Union CRM Projects • Avoiding CRM Pitfalls

  3. What is CRM? • CRM is actually MRM • Tools and techniques = attracting and retaining members • Centralized database to store information that can be used throughout CU to serve Members

  4. Way of thinking about members • Software Tools and Systems • The Power of People!!!

  5. Software Tools and Systems • Solutions for Call Centers • Data Mining & Data Warehousing • Web-based Financial Services • Event/Product driven Campaign Management • Sales Force Automation

  6. Power of the People!!! • Technology is nothing without people • CRM tools designed to enable people in their member marketing and retention efforts

  7. CRM Systems Require: • Gather data about members • Store data easy to use system • Use that data to market and communicate with members

  8. Benefits of CRM • Target specific member segments for marketing • Give 1to1 member service through all channels

  9. Credit Union CRM Progress • Nevada Federal CU • Campus Federal CU • North Shore Credit Union • McCoy Federal CU

  10. Nevada Federal Credit Union • Cross functional team approach • New technology and enhanced member service training go hand and hand • CRM leads to Business Intelligence

  11. Nevada Federal Credit Union

  12. Campus Federal Credit Union Currently use MCIF systems to slice and dice data for: • Targeting members for cross selling additional services • Do information E-Mail to direct members to special web page on product

  13. North Shore Credit Union • Goal - Increase cross-selling of internal sales force • Shift emphasis to a 1-to-1, advisory role with members.

  14. North Shore Credit Union NSCU’s ROI: • Senior financial advisor sales revenue increased 20% • Identified new selling opportunities that increase member value

  15. McCoy Federal Credit Union • Just purchased Marquis package which will profile member data by: • Income level • Family makeup • Buying habits • CU financial account profile

  16. McCoy Federal Credit Union • AC emphasizes People Power by: • Comprehensive customer service training • Walking around , asking employees what they liked and what else would you like to see

  17. CRM Pitfalls

  18. Organizational Change Inertia and Politics Lack of CRM understanding Poor Planning Lack of CRM Skills More than 80% of the causes from:

  19. Pitfall Solutions • Strategy Driven from Top Down • Set-Up Cross-Functional Steering Team • Have an overall Strategic Framework but Think Big and Start Small • Build CRM business skills in parallel with CRM Technology base • Set-up CU wide CRM education and skill building training program

  20. Final Exam • Mr. Member mad because of late fee on auto payment & wants it waived • Has Auto Loan - $35,000; Checking Account - $15,000; Time Deposit - $75,000; son has two savings accounts for total of $100,000 AND wife’s business does payroll with you

  21. Three Legged Stool of MRM • CRM Software Solution - Tool, Enabler + • Process Improvement - Better service + • Sales Culture - Move from transactor to proactive cross-selling = More ROI

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