Nfluence A 360-Degree View of Every Customer: A) Sales Force Automation

in the present Indian Banking Scenario, two prominent phenomena are the focal point
to emerging practices and policies. These are ‘Technology’ and ‘Relationship Marketing’.
The power of technology that has revolutionised banking services and practices.
‘Relationship Marketing’ is seen as the only differentiating factor given the almost
commoditisation of banking services. On observation of the recent restructuring,
rebranding and reengineering efforts of many banks, we find that the key motive
towards these is to utilise customer centricity as a strategy. Further, catalysing the
importance of Technology and Relationship marketing is the Core Banking Solution
(CBS)
Broadly, three types of CRM are adopted by banks:

1. Operation CRM – In this, CRM software packages are used to track and efficiently organise
inbound and outbound interactions with customers including the management of marketing
campaigns and call centres. Operational CRM supports frontline processes in sales, marketing and
customer service, automating communications and interactions with the customers. They record
contact history and store valuable customer information to ensure a consistent picture of customer’s
relationship with the bank that can be retrieved by staff as per requirement. The major benefits of
operational CRM to banks are
a)Sales Force Automation-nfluence a 360-Degree View of Every Customer
A banking Salesforce CRM is a merged framework that can coordinate with your other financial
software projects to give a single view of every customer account. From making a deposit at an ATM
to mentioning data about a particular sort of loan, each pre-decided move a client makes can be
recorded in your CRM. This makes it snappy and simple to increase further experiences into their
habits and personal preferences, which can assist you in aligning certain products to their money
related objectives.
Improved Customer Retention

To increase new customers is a troublesome activity for banks. In this extreme market condition,
retaining existing customers is additionally a troublesome activity. Retaining the existing customers
turns into a significant part to have a grasp in this competitive market. Customer retention can be
cultivated by improved customer fulfillment and dedication.
Better Customer Service and Experience

Salesforce CRM gives deeper insights into clients’ information, therefore empowering more
noteworthy customer support services. It gives better customer service by means of snappy
automated response to users’ inquiries, facilitating services pertinent to them. Salesforce
Implementation Consultant helps in improving the user experience. Salesforce and banks together
make better user experience through helping with recognizing what the audience wants, outfitting
snappy help, building personal relationships and afterward keeping up an ongoing journey.
Use Insights to Improve Sales and Marketing Efforts
The information in your Salesforce CRM can be aggregated into reports so you can increase gain a
much deeper understanding of your users. From that point, you can recognize trends, effective
campaigns, and regions for development that will assist you with foreseeing client needs and tailor
your future marketing endeavors. You can likewise utilize the information in your client profiles to
pinpoint regions for strategically pitching and upselling. For instance, if a customer makes a store
inside the bank, the teller can have a full perspective on their profile and advise the customer of new
products they might be interested in or qualify for, such as a platinum Mastercard.
Boosted Sales
Sales have become an essential part of banks with an expansion in the development of CRM.
Salesforce Software Implementation helps banks in sales management with sales modules. It
likewise recognizes and convert the leads into potential customers and aid the procurement of new
clients with the assistance of past track records.
Expanded Productivity
About eight of every 10 (79%) of all marketing leads are never changed over to sales. Unbelievable,
yet right? Suppose you have a full sales group. Would you hire an additional banker if, by and large,
he without any help expanded loan sales by 29% and offered an arrival of 5.6 times his pay in
revenue? It’s an easy decision.
Imagine a scenario where you could get these outcomes with innovation arrangements rather than
another contract. You can, because that is actually what a Salesforce for financial services can
accomplish for your bank. Salesforce help cut expenses by limiting tedious managerial tasks,
streamlining proposition, and keeping your sales team insider savvy with only a couple of clicks.
With the right technology, financiers are fit for taking care of more records in less time.
Effective Communication
Bank call centres are utilizing Salesforce software for some reasons. Salesforce is automating
interactions and communication with clients. A Salesforce CRM likewise causes banks to monitor
discussions about their products and brand crosswise over various online media. It is additionally
aiding between office correspondence.
Expanded Customer Loyalty

What’s the true test of how much value your audience? Customer maintenance through client
support. Although well-planned sales and offering products dependent on customer needs are
significant, 76% of buyers state customer care is an essential factor in how they value a brand.
Great service is the part of the business pipe that keeps your customers returning for additional.
In what manner can Salesforce help? By giving you access to rich customer profiles with only a
couple of snaps. Your customers have organizations to run, so requesting that they repeat their
problem or customer history each time they address another agent extends their understanding and
wastes your time and theirs. Rather, you can in a flash pull up each service ticket, buy, and data
point at the exact minute customer need assistance so you can swoop in to make all the difference.
At the point when you utilize a salesforce solution to stay over customer care tickets and customize
your reaction, you can transform issues into open doors for expanding loyalty and fulfillment.
(b) Customer Service and Support-
The Facts
Because of increased competition, banks are required to become more and more
customer-focused, according to Washburn Financial Services. It is more costly to
acquire new customers than it is to retain existing customers. Retaining customers
requires customer service staff in banks to provide service that is quick, error-free and
convenient.
Bank Tellers
Bank tellers are the first point of contact for many customers. Tellers who are friendly,
quick and knowledgeable are a definite tool for customer service in banking. Many
customers make a decision on whether or not to do their banking with a particular
institution based on the personalities and expertise of bank tellers. On-the-job training is
usually offered for bank tellers, including emphasis on customer service skills.
Call Centers
Many banks, particularly large banks, employ customer service representatives in call
centers to be the initial point of contact for customer inquiries. Call center
representatives may try to solve problems or they may be responsible for directing calls
to specialists within the banking organization. Call center representatives should have
good communication skills, good listening skills and problem-solving abilities.
Other Jobs in Banking
There are many other staff members who offer customer service in banking. Branch
managers may be able to soothe an irate or dissatisfied customer. Customer service
representatives are able to perform more complex transactions such as opening
accounts. Loan officers offer customer service to customers, both consumer and
commercial, who wish to borrow money
1. Analytical CRM – It is about analysing customer information to better address marketing and
customer service objectives and deliver the right message to the right customer at the right time
through the right channel. It involves the use of data analysis to extract knowledge for optimising
customer relationships.
The major benefits of Analytical CRM to banks are:
 Customer Retention
(b) Fraud Detection
(c) Optimising marketing efforts as per customer life time value
(d) Credit Risk Analysis
(e) Segmentation and targeting
(f) Development of customised new products matching the specific preferences and
priorities of customers.
1. Collaborative CRM – These involve systems facilitating customers to perform services on
their own through a variety of communication and interactive channels. It brings people process and
data together and enables channelling of data and information appropriately to bank staff for
proactive decision making and enhanced informed customer service and support activities. It
provides a means of information sharing to all concerned in timely manner and includes customer as
a creator of service. The major benefits of collaborative CRM to banks are
(a) Providing efficient customer communication across a variety of channels
(b) Online services to reduce customer service costs
(c) Providing access to customer data while interacting with customers.
Thus, CRM can be understood as a catalyst enabling transformation of Banking from

traditional ‘Transactional banking’ to ‘Relationship Banking’ by use of technology.

Nfluence A 360-Degree View of Every Customer: A) Sales Force Automation

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in the present Indian Banking Scenario, two prominent phenomena are the focal point

Broadly, three types of CRM are adopted by banks:

a)Sales Force Automation-nfluence a 360-Degree View of Every Customer

Improved Customer Retention

Better Customer Service and Experience

Expanded Customer Loyalty

(b) Customer Service and Support-

Other Jobs in Banking

(c) Optimising marketing efforts as per customer life time value

(d) Credit Risk Analysis

(e) Segmentation and targeting

(b) Online services to reduce customer service costs

(c) Providing access to customer data while interacting with customers.

Thus, CRM can be understood as a catalyst enabling transformation of Banking from

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