7 Benefits of a CRM for your Credit Union Marketing

Posted by Alexa Audet on Apr 5, 2017 9:00:00 AM


Credit union marketing is much more complicated that it seems to most. It doesn't just bring people into your financial institution; it informs them so that you can continue to serve them with the quality they've come to expect. One strategy to ensure a satisfied customer and a smooth running credit union is utilizing a customer relationship management tool. A CRM works not only by retaining information about your customers, but it allows that information to be used in a way that will improve your whole management system. A CRM is a software that combines information from sales, marketing, and customer service positions. This gives you a complete picture of your customers as individuals. It's a valuable tool with some great benefits.


Everyone is on the Same Page

You want people on the same wavelength, especially when it comes to your credit union marketing. With a dedicated CRM system, your whole team has access to the important customer information, from the president to the front line customer service representatives. It's practically common knowledge at this point that a common goal is essential for a smooth functioning team, so that goal and the methods to achieve it should be easily accessible. 


Positive Experience For Customers

When most people think of customer satisfaction, credit union marketing generally isn't the first thing to come to mind. But imagine it, if you know something about your customer's habits, and you have an analysis of those habits in front of you, won't you be able to provide them with a vastly improved experience? Guessing games and poor communication no longer hamper relations with your customers or clients, because you'll have a full idea of what they're looking for in advance. 


Customer Retention

This one's pretty self-explanatory, if you provide better service, customers will be happy. If a customer is happy, they won't want to leave. Period. People don't generally expect good service from financial institutions. Indeed, in our modern world, many have come to distrust these institutions. With that in mind, anything you can do to improve and personalize your credit union marketing will improve your customer retention. 


Improved Efficiency

With improved communication and information distribution inevitably comes improved efficiency. Imagine cutting steps from each transaction, or streamlining your day. That translates to increased satisfaction not only from customers but employees as well. 


Real Time Data

With a CRM data is updated in real time. That means there's no costly lag or confusion when it comes to customer data. If the data is constantly updated, you can spot potential problems before they happen and head them off before they become real concerns. You'll have happy customers that stay happy


Puts Your Data To Use

What good is data that just sits in storage? With the real-time analysis of the data, that data is translated from being an abstract, unreadable series of numbers, to being tangible. You can put your data to work for you, and it will pay dividends in your credit union marketing. It's in this analysis that the true value of a CRM lies. 


Effective Goal Setting

Every financial institution sets goals with regard to its customers. It helps employees stay focused and informed, and the results are known to improve and grow your business. But when you can see a detailed analysis and breakdown of customer behavior you can set goals more effectively, making them realistic and achievable. Improved morale, happier customers, achievable goals; what's not to like?


If you're looking to improve the management of your customer data, so that your credit union marketing can work efficiently and your employees can work together to improve your business, a CRM is an invaluable tool. 

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Topics: Web Design, Web Analytics and Tracking

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