Case 6

Financial Services: Lead Generator Pilot & Development of CRM Capabilities

Acceleration in the implementation of CRM and Marketing Intelligence capabilities across different brands of the company.

Boost in CRM and Lead Generation capabilities

The challenge

A multi-brand financial services company did not have a dedicated CRM department and their Marketing Intelligence capabilities where limited. As result, there was a lack of customer insights and hence lost opportunities to cross-sell, increase customer satisfaction or retain clients, among others.

The organisation realised an urgent need to become more CRM oriented and to develop lead generation and campaign management capabilities within the company. However, the company struggled to bring this process up to speed as experienced CRM professionals are scarce in the market and to bring them in is rather costly and internal people did not have the required skills.

The solution

  • Lead Generation Pilot: a concrete initiative to establish first CRM results for the company in the short term. Enables to kick-start the change towards a more CRM oriented approach. Enables to get experience with advantages of using sophisticated modelling to identify clients that are most likely to buy a product or offer, as input for concrete lead lists.
  • Support in the development of the CRM department: clear description of the functions, profiles, KPIs of the CRM staff, and support in the selection process. Support in establishing optimal distribution of responsibilities between CRM, Marketing & Sales.
  • Knowledge transfer workshops: training on the job. Among other skills, state-of-the-art Marketing Intelligence and modelling techniques, lead processing, campaign management and lead channel distribution.

The impact

  • As result of the Lead Generator Pilot, the company obtained first CRM results: considerable increase in the sales conversions, obtained better customer insights and their propensity to buy certain products, gained experience in lead generation, campaign management, training of sales managers and getting their feedback, etc.
  • First CRM team members were hired and trained on the job. Internal people with no previous CRM experience were trained to perform certain CRM-related tasks.
  • The company was able to kick-start the implementation of CRM solutions and benefit from its results sooner than other institutions from their sector.
  • Strong kick-start of the organizational change towards customer centric culture.

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Reinventing Financial Services

Financial Times Pearson, 2010-2011



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