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The bank just spent 7 months selecting a CRM system – defining business goals, building a business case and hosting countless demos.  Now the real work begins! To ensure the project is successful, attention to business process and change management is key.

CRM projects focus specifically on the deepening of customer relationships, and the process by which these relationships are developed becomes a critical part of the project. Many CRM projects automate existing workflows at a financial institution, instead of enabling customer-centric processes that are more valuable to customers and bankers alike.

So how do you avoid making the same mistake?

  1. Involve Users, Early and Often. This creates buy-in from end users, produces advocates who have a sense of ownership and allows potential business process mistakes to be identified and avoided early.
  2. Plan for User Adoption. Is the CRM system set to provide value to your actual users? Or will it mostly act as a reporting tool, another big-brother bank system to track activity? You must: Give Value to Get Adoption. If the CRM system is not set to make life better for your relationship bankers and managers, adoption will be low and the project may likely fail in terms of ROI.
  3. Executives Lead the Charge. The drivers and goals for the CRM must be modeled from the leadership team. This means leading sales teams from within the CRM, not out of a spreadsheet that was exported from the very expensive CRM just implemented!

A properly planned and implemented CRM project allows a credit union or bank to improve the customer experience. This motivates employees who are empowered to serve their clients in the best way possible and produces value for everyone involved – customers, bankers, management teams.