CRM Techniques Effective Methods of Member Relationship Management

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CRM Techniques Effective Methods of Member
Relationship Management
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CRM Techniques

• What is CRM?
• Credit Union CRM Projects
• Avoiding CRM Pitfalls

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What is CRM?

• CRM is actually MRM
• Tools and techniques attracting and retaining
  members
• Centralized database to store information that
  can be used throughout CU to serve Members

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Way of thinking about members

• Software Tools and Systems
• The Power of People!!!

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Software Tools and Systems

• Solutions for Call Centers
• Data Mining Data Warehousing
• Web-based Financial Services
• Event/Product driven Campaign Management
• Sales Force Automation

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Power of the People!!!

• Technology is nothing
• without people
• CRM tools designed to enable people in their
  member marketing and retention efforts

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CRM Systems Require

• Gather data about members
• Store data easy to use system
• Use that data to market and communicate with
  members

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Benefits of CRM

• Target specific member segments for marketing
• Give 1to1 member service through all channels

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Credit Union CRM Progress

• Nevada Federal CU
• Campus Federal CU
• North Shore Credit Union
• McCoy Federal CU

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Nevada Federal Credit Union

• Cross functional team approach
• New technology and enhanced member service
  training go hand and hand
• CRM leads to Business Intelligence

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Nevada Federal Credit Union
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Campus Federal Credit Union

• Currently use MCIF systems to slice and dice data
  for
• Targeting members for cross selling additional
  services
• Do information E-Mail to direct members to
  special web page on product

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North Shore Credit Union

• Goal - Increase cross-selling of internal sales
  force
• Shift emphasis to a 1-to-1, advisory role with
  members.

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North Shore Credit Union

• NSCUs ROI
• Senior financial advisor sales revenue
  increased 20
• Identified new selling opportunities that
  increase member value

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McCoy Federal Credit Union

• Just purchased Marquis package which will profile
  member data by
• Income level
• Family makeup
• Buying habits
• CU financial account profile

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McCoy Federal Credit Union

• AC emphasizes People Power by
• Comprehensive customer service training
• Walking around , asking employees what they liked
  and what else would you like to see

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CRM Pitfalls
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More than 80 of the causes from

• Organizational Change
• Inertia and Politics
• Lack of CRM understanding

• Poor Planning
• Lack of CRM Skills

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Pitfall Solutions

• Strategy Driven from Top Down
• Set-Up Cross-Functional Steering Team
• Have an overall Strategic Framework but Think Big
  and Start Small
• Build CRM business skills in parallel with CRM
  Technology base
• Set-up CU wide CRM education and skill building
  training program

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Final Exam

• Mr. Member mad because of late fee on auto
  payment wants it waived
• Has Auto Loan - 35,000 Checking Account -
  15,000 Time Deposit - 75,000 son has two
  savings accounts for total of 100,000 AND wifes
  business does payroll with you

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Three Legged Stool of MRM

• CRM Software Solution - Tool, Enabler
• Process Improvement - Better service
• Sales Culture - Move from transactor to proactive
  cross-selling More ROI