Last week I spoke about the power of integrated CRM in creating a comprehensive customer view to drive revenues through cross-bank referrals. This week, I’m going to take it a step further and discuss how that holistic customer view can enable teams across the globe to collaborate on opportunities to grow share of wallet and deepen customer relationships.
It all comes down to sharing key information across teams, regions, and product lines. Once your team starts using information from across the enterprise to better understand customer needs and notifying other groups of potential opportunities, your corporate culture begins to change for the better. You become a more collaborative organization and global opportunity management is the next logical step. Using the shared, comprehensive customer view as a basis, teams of relationship managers can work proactively to fully understand the potential of an opportunity and collaborate on a pitch that maximizes customer value across the organization. With all the information they need at their fingertips, they can easily enlist the help of regional and product specialists for multi-region, multi-product opportunities.
Suppose a North American pipeline manufacturer and installer lands a contract to build a pipeline in New Guinea. They may need forex services in Canada to buy the raw materials for their manufacturing plant in Indonesia, financing to build a temporary assembly site in New Guinea, commercial leasing services for equipment, and project-specific insurance. With access to the same customer information and the ability to collaborate securely, teams across the bank can work together to deliver the best products at the best rates for the customer’s budget. This is key because, although each team could bid independently, a coordinated pitch that demonstrates how your firm can provide all these services at a rate that reflects the full value of the project is more likely to win the business.
Next week, I’ll discuss how integrated CRM helps users better understand customer relationships across the bank to improve account planning. In the meantime, please feel free to share your thoughts or experiences on identifying and acting on cross-bank opportunities.