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The 3 Things You Need To Know About Your CRM

Client Relationships, Research & Insights 0 Comments


In August 2016, we teamed up with Redtail Technology, one of the leaders in client relationship management systems for financial advisors. Redtail has been finetuning their CRM system for over 13 years and our collaboration will allow our subscribers to manage their contacts and marketing outreach all in one place. Let’s look at the three things financial advisors should know about CRMs in the midst of our Redtail partnership.

What is a CRM?

Client Relationship Management systems (or CRMs) are platforms used to manage the relationships you have with your clients. This includes data management, tasks and communication, appointments, and more. There are too many CRMs to list, but some of the largest ones are Salesforce, Redtail, and Infusionsoft.

At FMG Suite, we use Salesforce to manage all of our leads, prospective customers, and project management. This helps us keep our different departments, such as sales, accounting, and marketing, organized. A financial advisor could use a CRM for similar tasks, as well as:

  • Scheduling appointments with clients
  • Analyzing analytics with email and other digital communications
  • Storing contact information for clients and prospects
  • Managing basic portfolio information and project statuses

The Advantages of Using a CRM

As a business grows, so does its project list and need for accountability and organization. CRMs can help your firm with these tasks, as well as many others. Some of the most salient benefits of using a CRM for financial advisors include increased efficiency, opportunities for collaboration, and an improved customer experience.

Increased Efficiency

Often times, the things that hold a business up most are daily responsibilities such as data organization, marketing outreach and analytics. These sorts of tasks are exactly what CRMs are built for — they replace manual processes with more efficient, automated tools that allow a business owner to focus more on client interactions.

Opportunities for Collaboration

Even for small businesses, many tasks are too complex or time-consuming to be handled by a single advisor. By using a CRM, you can collaborate with other members of your team and various departments on a single project. For example, when we have a new Exclusive customer, our sales reps share the project with our Client Success Coordinators who work with our White Glove team and designers to get everything done. We can easily mark when a portion of a project is complete and team members are held accountable for their share of the process.

Improved Customer Experiences

Ultimately, any business owner’s goal is to provide the best customer experience possible in the hopes of retaining clients and generating new leads. CRMs save you money, time, and resources, all of which lead to more time spent with your clients helping them with what matters most. When used properly, you will be able to send out relevant content to the right people, follow up on all stages of the customer journey, and seamlessly manage your clients’ projects.

How to Use Your CRM

By now, we hope we’ve educated you on the benefits of using a CRM and the efficiencies they can bring your business. We chose to partner with Redtail because they are the leading CRM for financial advisors, and with the integration of their technology into our Dashboard, you will be able to answer questions like:

  • What stage of the customer journey is this prospect in?
  • Who should I send this Campaign or email to?
  • What are the social media handles and emails of all my clients?
  • Where did this lead come from (ex: Video of the Month, Have a Question widget, social media)?
  • What products or services is this prospect interested in?

In addition to teaming up with Redtail Technology, we have also released our new product, Campaigns. Now, FMG subscribers can manage who they send their Campaigns to, import their contacts directly into their Dashboard, and manage their Campaign and email engagements. To learn more about Campaigns, check out this video.

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