United Solutions was tasked with recommending a CRM tool for our core data processing systems, focusing on enhancing member interaction, cross-sell opportunities, complete member history, and tracking analytics. Recognizing the significant impact of CRM systems on customer satisfaction and sales efficiency, we invested considerable time and resources into researching existing member relationship management systems such as Salesforce, Novus, and others. However, in alignment with our commitment to meeting the specific needs of credit unions, we decided to develop our own tailored solution.
Our in-house Member Relationship Management (MRM) product not only keeps costs down but also integrates seamlessly with our XP2 and DataSafe systems. The MRM has quick interaction screens for small requests like asking to have a password reset, and deeper screens for logging other calls with the credit union. Studies consistently show that satisfied customers are more likely to buy more than unsatisfied customers, highlighting the importance of enhancing member interaction and satisfaction through effective CRM tools (source: Harvard Business Review).
Our Member Relationship Management tool includes the following features and benefits:
- Member interaction: Enhanced member interaction capabilities in our MRM tool facilitate personalized communication and responsiveness, ensuring that staff can provide tailored support and service to members promptly.
- Cross-sell opportunities: By analyzing member data from the core system through our MRM tool, staff can identify relevant products or services, enabling them to effectively present cross-sell opportunities that meet members' evolving needs.
- Complete member history: Access to comprehensive member history directly from the core to our MRM tool empowers staff to have a holistic view of member interactions, preferences, and transactions, facilitating more informed decisions and personalized service delivery.
- Tracking analytics: Utilizing tracking analytics in our MRM tool allows staff to measure and analyze member engagement, satisfaction levels, and operational performance, enabling continuous improvement strategies that enhance member experience and loyalty.
- Importing files: The MRM can import lists from other third-party applications such as a third-party mortgage or student loan program so your member service team can work through the lists in the MRM.
Research indicates that organizations using CRM or MRM systems can experience a significant increase in sales productivity by up to 29% (source: Salesforce). Additionally, the return on investment (ROI) from implementing a CRM system is substantial, with businesses typically seeing a return of $8.71 for every dollar spent on CRM (source: Nucleus Research).
By eliminating the hefty costs associated with external CRM platforms, our solution not only reduces expenses but also enhances operational efficiency and member relationship management capabilities. This transition underscores our commitment to delivering cost-effective, tailored technology solutions that empower credit unions to thrive in a competitive market environment.
United Solutions’ development of a specialized MRM product reflects our dedication to innovation and client satisfaction.