Using CRM/SFA to Find and Keep Your Best Customers/Members

1 November, 2011 (21:29) | Blog | By: admin

By: Alan Buhler

There is no question that a small number of your customers/members provide most of your institution’s profits—you know this, I know this, we all now this! Unfortunately, the efforts to recognize this important client segment is rarely consistently implemented, and even more seldom is a comprehensive plan developed that is intended to consistently retain this extremely important group of clients.

First, let me iterate that there needs to be an easily understood and workable definition of what a “best customer” is. It really doesn’t matter whether you use total balances, total profitability, or a combination of the two to define your selection of customers/members that fall into the “best clients” category. What is important is that the definition has credibility in the whole organization and that all the information available is being leveraged to the greatest extent possible. These customers/members can be easily identified by applying the defined business rules to a marketing list in CoreTrac’s ResourceOne (R1).

Once identified, the objective is to maintain a running dialogue with these special customers/members to keep them engaged. For example, branch managers can use the list of their top customers/members and make an effort to get to know them personally, schedule calls, in-person meetings, etc. In study after study, the main complaint by customers is an attitude of indifference toward them by their financial institution—these “touches” are the simplest way to put that complaint on the sideline. In addition, this process can be automated in R1 so that none of the “best clients” are overlooked, and you have complete track-ability and reporting.

If you can add a regular communication program done over your CEO’s signature, it will acknowledge the special role these clients play. Also, let them be the first to know about special offers, new branch openings, etc. You may even consider hosting occasional social events to reinforce the personal relationships that can be developed between your customer/member and their personal banker. Finally, and at the bare minimum, a targeted “thank you” message during the holiday season is always appropriate.

Alan Buhler is Executive Vice President at CoreTrac, Inc. He can be reached at
or (512) 236-9120 ext. 272

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