How CRM software can help grow your financial sales

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The financial services industry can appear complex and confusing for consumers, particularly if they do not understand exactly what they need or which company to go through. This can make it hard for financial businesses to grow their sales, as their clients have very little knowledge of the products and services they offer.

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One way you can improve how you sell to clients is to use CRM software to keep track of sales and data.

Building up trust

Research shows that just 50 per cent of adults in the UK say they have some knowledge of financial services and products, with those in the 18 to 24 age group having the least understanding. It is therefore essential that you build trust with new clients so that they see you as an expert and value your recommendations. A CRM package is a simple way of maintaining client data to enable you to put together more tailored solutions for them.

Benefits of CRM

CRM back office systems for financial advisers are far more advanced than the original packages and now contain a wealth of information rather than just basic details such as name and contacts. They can feature demographic data and notes on interactions you have had, enabling you to track progress, prioritise important accounts, and highlight areas where you can improve your offering.

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In addition to helping to increase sales, CRM software, such as the back office systems for financial advisers available from providers such as, can enhance sales productivity and forecast accuracy. These can all lead to both happier clients and more engaged sales staff.

Find opportunities

With consumers having a limited knowledge of financial products, it is up to you to build a level of trust with them and recommend the best opportunities. Detailing past conversations and other interactions on CRM systems can help you to recommend new services and prevent you having to go through their history on each call. This makes your business appear more professional and your staff knowledgeable and capable of dealing with their financial transactions.

There are not many industries that rely on the same level of trust and loyalty as financial services. Having extensive knowledge of clients and their requirements can go a long way to improving your sales potential.

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