Power of a CRM: Truth Serum

A CRM shows who is committed to the long term success or an organization.

A Client Relationship Management (CRM) platform is its most powerful when it has high adoption and engagement organization wide. To get that, a bank needs to ensure it has the right people. Before a CRM is implemented it is imperative that the organization understands the why and communicates it effectively. Change can be a difficult endeavor, it makes people uncomfortable especially if they don’t know why something is happening. This can hamper the ability for an institution to fully leverage a CRM.

The strength of a CRM is the visibility it brings to an organization. No more silos, connects the front end of a company with the back end. A complete view of the client. When it falters, is when a bank doesn’t have true engagement because either the Lines of Businesses (LOBs) were not part of the planning process or there is a very toxic culture. To get the engagement level necessary for a CRM to be successful an institution’s people need to be committed to the organization’s success. This is how a CRM becomes a truth serum.

Without failure, when culture and LOBs are aligned a CRM implementation and adoption should be highly effective. If not, that is most likely a personnel issue. When there are teams or departments not getting the anticipated results it is because they are unwilling to embrace what is going to help the bank be successful. Prior to a CRM being introduced individuals only had sales calls where activities and prospecting was reported. Now it feels like everyone wants to know everything. This resistance could be at the individual or management level.

No matter where opposition comes from it must be dealt with quickly. Leaderships needs to communicate the benefits and anticipated value to the bank with those not showing support. Distention that occurs during onboarding will derail these efforts and possibly affect others. If it occurs after then the future success could be in jeopardy. Every day the organization is not working together towards common goals critical information is being lost because it is not being captured.

When a financial institution chooses to incorporate a CRM they are not only evaluating their data better but also their associates. Those truly working to ensure the organization wins will do whatever is necessary or provide feedback to improve the process. Those not, won’t.