Every customer wants to feel like a company has an vested interest in their satisfaction. There are plenty of options for consumers in the modern world, and a business's ability to provide personal service could help it stand out from competitors.
Recently, MarketWatch reported that many banks now use Microsoft Dynamics CRM software to provide customers with tailor-made experiences. Representatives from numerous financial organizations praised the performance of Dynamics CRM solutions at the 2014 Sibos global banking event. Company leaders said the technology was a perfect solution for an industry that has to balance customer desires with strict government oversight.
"We can deliver solutions to our clients in a much more relevant way because we understand their needs," Citi Private Bank's Chief Operating Officer Dena Brumpton told MarketWatch. "We know what they're interested in and what their preferences are, which means we can target them better. As well, Microsoft Dynamics CRM makes it easy to be compliant with regulatory requirements in each jurisdiction."
Speakers said the CRM solutions were easy to implement, adapted to existing infrastructure, and personalized customer engagements. Microsoft Dynamics CRM services are beneficial to any business that wants a flexible solution to improving customer care.
Businesses focus on personalized success
Attendees at the conference said global competition was one of the primary factors forcing their industry to focus on customized experiences. Consumers use eCommerce solutions to browse merchandise and virtually visit businesses from around the world. Digital content offering products and services that personally appeal to a customer's preferences are in high demand.
All industries have shifted resources toward personalized marketing content and customer service. Econsultancy performed a survey that found 94 percent of companies viewed personalization as a critical factor for business success. Respondents said focusing on particular customer needs improved business performance and client satisfaction.
The consultancy report also discovered that businesses wanted to personalize online materials like their websites to facilitate engaged customer interactions from first impressions. While the desire is there, the practice could still use work. Both consumers and business representatives who replied to the survey said most online materials were still lacking a personal touch.
CRM solutions for personalization
How can a company create personalized marketing materials? Fourth Source, a digital marketing blog, suggested starting with plenty of data.
Microsoft Dynamics CRM software integrates with existing systems to store information from customer engagements. Whenever a client calls in or sends a message, service agents should store the information in a centralized database. Marketers have to do the same when tracking leads or reporting recent converts. A CRM solution displays information so users can spot trends and design strategies based on the preferences of individuals or groups.
If the business would like to generate more data, CRM services can assist in collecting information from numerous sources. Besides direct communications, employees can analyze customer data presented in service orders. Company representatives can search online materials such as websites or social media pages. Marketing teams can create surveys or online competitions that encourage viewers to submit personal details. Employees can then store all of this information on the CRM platform and use it to create a history of each client's personal relationship with a company.
When implementing new technology, business heads should brainstorm what critical consumer and client information is missing in their system and then contact a CRM partner to find a solution. A CRM consultant with plenty of experience in the given industry can suggest strategies based on business size and IT capabilities. Working together, a business and a CRM partner can design content and services that treat each customer like the individual he or she is.
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