Oct 24, 2014 By Sadev Parikh

Optimizing Lead and Referral in Banking [Infographic]

in Cloud, Sales

As software ‘eats the world,’ tech disruptors are no longer nipping at the heels of traditional banks; they’re in their kitchens cooking Thanksgiving dinner. Why is this happening? Information siloes and other obstacles to cross-team collaboration at traditional banks contribute to a startling 63% of leads that fall through the cracks and are never followed up on (1).

By adopting new digital tools that enable companies to share data across all lines of business, banks can deliver the seamless customer experience needed to improve client satisfaction and boost revenue. The opportunity is immense. Implementing an enterprise lead and referral management system can mean an additional $1.5 billion for large banks, and $500 million for mid-size banks (2).

The story portrayed in the infographic below explores how a bank can engage a prospect about whom little is known, and leverage digital tools to capture information during each stage of their customer journey to create a deep understanding of their needs. It's a customer-centric focus that engenders advocates for life.

(1) 2012 Forbes Secret Shopper Study of 10,000 Companies

(2) Estimated by the executive team of a large U.S. bank