Saturday, July 7, 2001

Online Analyzers Significant Components of CRM Program

Meridien Research, a leading financial technology analyst firm, today released a report in which they describe a new category of online applications that is becoming an important component of CRM programs by providing high quality leads.

More than $US 4.6 billion will be spent this year by financial institutions gathering and analyzing data in order to understand customer behaviors and to develop more and better sales leads. Despite these efforts, direct marketing response rates are declining.

Financial calculation and planning tools designed to help consumers achieve their personal financial goals are providing institutions with sales leads that are have closing rates that are running as high as 30 percent.

“Analyzers and financial planning modules are helping consumers to educate themselves, to make better choices, and to identify their needs for financial services,” said Tom Richards, Research Director at Meridien Research. “A key benefit for the institutions that are providing these tools is their ability to gather information that supports business development and sales.”