Financial services CRM: 3 Tips to offer Better Value Added Services

In this fast-changing financial era, regulations, economic situations, investor relations, profit margin rates are changing like never before. Customers are facing additional problems with the fluctuating rates of additional fees charged on their returns. In such situations, what a financial security firm can do to brighten their profits with a better customer satisfaction.

Value added services through Financial services CRM

Value added services (VAS) are the add-on services offered by any financial service firm like real-time recommendations, demat accounts with special features, alerts etc. But financial security firms are struggling with the challenge to make VAS more effective for the clients and profitable for the organization. They are facing the problem to distinguish these VAS that will attract clients to one firm and not the other.

But with the help of CRM for financial services, VAS can be more effective. Here is how…

1. Develop a strong core service

A strong core service lays the foundation for your financial securities firm. Your core service should be customer focused, return-oriented, trustworthy and effective. When customers will see the values in your existing product/ services, they will automatically convert into a reliable prospect for your VAS. An agile CRM system helps you to develop a reliable core service.

2. Establish your unique proposition

Financial service companies across the globe are more interested in boosting margins instead of providing (real) value added services. A unique proposition in terms of how the products or services are provided or presents before the consumers can make a big difference.

It will automatically convert your customers to a prospect while pitching the VAS. With the help of guided selling through financial service CRM your service team can check the complete customer profile including customer journeys for improved cross selling. It helps to add value to the customers, something which core services alone will not provide.

3. Understand your client

Understanding your customer is the basic rule of success for any business. Understand the service need of your customer by conducting a survey. It will help you to understand the customer’s needs and serve them better.

With the help of a Financial CRM’s dynamic pricing mechanism, you can crunch the price listing and correlate in scheme codes to present best pricing option for cross or up-selling. With the help of predictive analysis of transnational and interaction history, Loyal customers can be rewarded regularly to create a WOW effect.

A customer always prefers a service provider, who offers a frictionless experience on all platform. To elevate above the competition, add cost efficient values to your service offerings. It will help to increase profits by gaining more customers.