CRM Techniques Effective Methods of Member

Relationship Management

CRM Techniques

What is CRM?What is CRM?

Credit Union CRM ProjectsCredit Union CRM Projects

Avoiding CRM PitfallsAvoiding CRM Pitfalls

What is CRM?

CRM is actually MRMCRM is actually MRM

Tools and techniques = attracting Tools and techniques = attracting and retaining membersand retaining members

Centralized database to store Centralized database to store information that can be used information that can be used throughout CU to serve Membersthroughout CU to serve Members

Way of thinking about members

Software Tools and SystemsSoftware Tools and Systems

The Power of People!!!The Power of People!!!

Software Tools and Systems

Solutions for Call CentersSolutions for Call Centers

Data Mining & Data WarehousingData Mining & Data Warehousing Web-based Financial ServicesWeb-based Financial Services Event/Product driven Campaign Event/Product driven Campaign

ManagementManagement Sales Force AutomationSales Force Automation

Power of the People!!!

Technology is nothing Technology is nothing

without peoplewithout people

CRM tools designed to enable CRM tools designed to enable people in their member marketing people in their member marketing and retention effortsand retention efforts

CRM Systems Require:

Gather data about membersGather data about members

Store data easy to use systemStore data easy to use system

Use that data to market and Use that data to market and communicate with memberscommunicate with members

Benefits of CRM

Target specific Target specific member member segments for segments for marketingmarketing

Give 1to1 Give 1to1 member service member service through all through all channelschannels

Credit Union CRM Progress

Nevada Federal CUNevada Federal CU

Campus Federal CUCampus Federal CU

North Shore Credit UnionNorth Shore Credit Union

McCoy Federal CUMcCoy Federal CU

Nevada Federal Credit Union

Cross functional team approachCross functional team approach New technology and enhanced New technology and enhanced

member service training go hand member service training go hand and handand hand

CRM leads to Business IntelligenceCRM leads to Business Intelligence

Nevada Federal Credit Union

Campus Federal Credit Union

Currently use MCIF systems to slice Currently use MCIF systems to slice and dice data for:and dice data for: Targeting members for cross Targeting members for cross

selling additional servicesselling additional services Do information E-Mail to direct Do information E-Mail to direct

members to special web page on members to special web page on productproduct

North Shore Credit Union

Goal - Increase Goal - Increase cross-selling of cross-selling of internal sales internal sales forceforce

Shift emphasis to Shift emphasis to a 1-to-1, advisory a 1-to-1, advisory role with role with members.members.

North Shore Credit Union

NSCU’s ROI:NSCU’s ROI: Senior financial advisor sales Senior financial advisor sales

revenue increased 20%revenue increased 20%

Identified new selling Identified new selling opportunities that increase opportunities that increase member valuemember value

McCoy Federal Credit Union

Just purchased Marquis package Just purchased Marquis package which will profile member data by:which will profile member data by: Income levelIncome level Family makeupFamily makeup Buying habitsBuying habits CU financial account profileCU financial account profile

McCoy Federal Credit Union

AC emphasizes People Power by:AC emphasizes People Power by: Comprehensive customer service Comprehensive customer service

trainingtraining

Walking around , asking Walking around , asking employees what they liked and employees what they liked and what else would you like to seewhat else would you like to see

CRM Pitfalls

More than 80% of the causes from:

Organizational Organizational ChangeChange

Inertia and Inertia and PoliticsPolitics

Lack of CRM Lack of CRM understandingunderstanding

Poor PlanningPoor Planning Lack of CRM Lack of CRM

SkillsSkills

Pitfall Solutions

Strategy Driven from Top DownStrategy Driven from Top Down Set-Up Cross-Functional Steering TeamSet-Up Cross-Functional Steering Team Have an overall Strategic Framework but Have an overall Strategic Framework but

Think Big and Start SmallThink Big and Start Small Build CRM business skills in parallel with Build CRM business skills in parallel with

CRM Technology baseCRM Technology base Set-up CU wide CRM education and skill Set-up CU wide CRM education and skill

building training programbuilding training program

Final Exam Mr. Member mad because of late fee Mr. Member mad because of late fee

on auto payment & wants it waivedon auto payment & wants it waived Has Auto Loan - $35,000; Checking Has Auto Loan - $35,000; Checking

Account - $15,000; Time Deposit - Account - $15,000; Time Deposit - $75,000; son has two savings $75,000; son has two savings accounts for total of $100,000 AND accounts for total of $100,000 AND wife’s business does payroll with youwife’s business does payroll with you

Three Legged Stool of MRM

CRM Software Solution - Tool, CRM Software Solution - Tool, Enabler +Enabler +

Process Improvement - Better Process Improvement - Better service +service +

Sales Culture - Move from Sales Culture - Move from transactor to proactive cross-selling transactor to proactive cross-selling = More ROI= More ROI