How can the Financial Services Industry Improve Customer Relations?

The financial services industry has made significant strides in developing customer relations in recent years. However, there is still room for improvement. One of the easiest ways to improve customer relations, and a method used by many financial services firms already, is to use a Customer Relationship Management solution like Salesforce. 

3 ways the financial services industry can enhance its customer relations 

1. Know your customers

Today, the first and most important thing with customer relations is to know your customers. This goes beyond just knowing their identity; it is also about knowing their preferences and their circumstances. A financial service firm concerned about customer relations should ensure that they have mapped out a proper customer journey. 

The easiest way to design a customer journey and understand your customer base is by pulling insights from customer data. This will then allow you to create personalised experiences, design products that address customer needs and improve online engagement with your brand. 

Knowing your customers will help you be proactive, and it will enable you to make customer-centric innovations.

2. Incorporate omni-channel solutions

Most business isn’t conducted over the telephone anymore. We have many other modes of communication. Therefore, it is important for those working in the financial services industry to ensure they are making the most of omni-channel solutions.

Think about how your firm interacts with customers on social media, via email, webinars, and events. Ensure that you are maximising every communication opportunity and that you know the channels your customer base prefers. This is key to the digital transformation journey of any company.  

3. Route to the relevant people

It is vital that your customers are able to interact and speak with the right people. There is nothing more frustrating than talking to someone who is clueless about your situation. A CRM like Salesforce makes it easier to funnel customers through to the right personnel. 

Routing to the right people will often involve a blend of human and digital interactions. It is essential that these connections are seamless. 

Ultimately, digital engagement is at the centre of customer relations and will only grow in importance as technology improves. Nevertheless, in financial services firms, it should also be easy for associates to personally serve customers and clients in a simple, effective, and informed way by insightful data.

When considering how to funnel customers to the right people effectively, you should ensure your staff are ably supported with the best available CRM solutions. 

Customer relations can be tricky for financial services, but today there are many modern and tailored solutions to make the process as easy as possible. 

Using a customer relationship management platform like Salesforce is the easiest way to ensure that you are continually improving your customer relations. You can also use Salesforce to manage a broad range of processes within your firm. 

Click here to find out about the features and benefits of Salesforce Financial Services Cloud.

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Salesforce is making life easier for people that work in the financial services industry. To learn more about Salesforce implementation and how you can improve your processes and relationships, arrange a call today with one of our solution experts.