Wealth Management: 7 Steps To Build Book Value With CRM Technology - Maximizer CRM

Wealth Management: 7 Steps To Build Book Value With CRM Technology

BY Maximizer
June 24, 2015

bookIt wasn't too long ago that the Maximizer team was in Toronto giving a presentation to wealth managers. When we returned to Vancouver this was followed with a presentation on how a CRM can help your organization build book value.

"7 Steps To Build Book Value With CRM Technology" was a live webinar viewed by dozens of individuals in the wealth management industry.

Step 1: Create A One View World

Creating a One View world involves generating a complete client profile across demographics, compliance, goodwill, and financial planning. With a CRM all this appears in one place. Without a CRM you're probably bouncing between Excel, Office, and handwritten notes. Productivity is vastly improved when a CRM is used and mistakes are reduced due to increased visibility.

Step 2: Focus on the C in KYC

By focusing on the customer you're taking advantage of intuitive data capture to eliminate admin. This lets you easily change and adapt and provides the foundation of genuine client engagement on a personalized level.

Step 3: Embrace Prospect Nurturing

It's crucially important that you pay attention to not just customers but prospects as well since building a pipeline of new business keeps your entire company moving forward. We recommend targeting prospects with email campaigns and other outreach and to use the internet to capture leads. With a top-tier CRM you are able to implement forms that interface directly into your CRM and then send emails to these individuals.

Step 4: Go Social

Social selling is a big deal. There are numerous studies showing that individuals who use social media in the selling process typically outperform those who don't. CRM technology allows you to interface directly with social media to get comprehensive personal profiles and connect with clients and prospects.

Step 5: Make 'Process' A Competitive Advantage

Many of the actions you perform each day are repeatable. By identifying these processes you can use a CRM to map task flows and create Action Plans. When you create a repeatable workflow within your CRM you save time and give yourself an optimal process so you can delight clients.

Step 6: Make Your Smartphone Smarter

By harnessing the power of mobile CRM you can take your client database with you anywhere. Whenever you're meeting out of the office you'll be able to quickly log in and get information about your client, their preferences, and your previous meetings and interactions. This invaluable tool gives you a key advantage so you can deliver a superior client experience, boosting retention.

Step 7: Measure + Monitor = Money

CRM technology has multiple monitoring and measuring tools which let you see performance, pipelines, and customer acquisition. By staying on top of what's happening in your organization you can hold true to the old Drucker mantra: "What gets measured gets managed," and we all know that what gets managed gets better, earning you more money.

CRM Technology in a Nutshell

These are 7 ways that CRM can help you build book value. As you can see a CRM reaches out into all parts of your organization, bolstering productivity and helping you serve a better client experience.

We developed a CRM solution specifically for wealth managers. To learn more about this solution please head to www.Maximizer.com/wealth

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