Integral Client Solutions: Better by experience

  • Wallet Migration
  • New Hires
  • Supervision
  • Margin Retention
  • Education, L&D
  • Support & Fairness
  • Client Survey
  • Work Experience
  • Compensation
  • Empowerment
  • Advice, Ideas & Solutions
  • Transaction Frequency
  • Accountability
  • Execution
  • % of Wallet
  • Client Credibility
  • Price / Value
  • Margin / Risk

Many organisations invest a lot of time and money to build a Client Relationship Management (CRM) framework but now find that unexpected challenges are hampering the implementation and they are struggling to fulfil even the basic initial requirements and now face the risk of complete derailment.

Making CRM work.

A Client relationship management system (CRM) should enable an organisation to define its sales strategy, sales culture and motivational drivers and also provide a goal-focussed approach to leveraging client relationships.

CRM systems enable management and client interfacing people such as RM’s and sales to focus on identified sales value chains that contain cognitive client strategies with the purpose to increase revenue, transparency of how value is generated and client satisfaction.

It is necessary to base a CRM system within a holistic strategic sales framework with pillars such as budgeting, planning, reporting etc. but also with cognitive client migration action plans with the ultimate aim of an explicit or implicit link to compensation policy.

A fully functioning CRM system will give management and staff information which clearly highlights where value is created and associated opportunities. An initial evaluation within the bank is suggested to identify the framework within which the CRM will fit.

This is a process which involves discussions with business management and the relevant front desks with the essential aim being to identify gaps and define the core sales culture and value drivers of the organisation.

For example, six primary areas to be discussed and defined could be:

  1. Strategy: identify competitive advantages and USP’s combined with outcome objectives.
  2. Culture: identify the sales culture including goals, motivations and compensation policy.
  3. Execution: Define the levels of interaction and service.
  4. Structure: How are individuals or teams created and motivated.
  5. Talent: Identify gaps and upgrading requirements.
  6. Growth: Building future revenues i.e. how to embed client relationships and enable migration planning.

“A person without information cannot take responsibility, while a person with information cannot help but take responsibility” Jan Carlzon, CEO, SAS

Causal Models build virtuous circles

It is necessary to establish a causal model of the plan for the CRM system which highlights the drivers of strategic success. Such a model, in simple form, might take shape as above. It is circular in shape to highlight the learning and self-leveraging effects of the system.