The Role of Customer Relationship Management (CRM) Solutions for Financial Services Wholesalers

Whitepaper

Account Managers | Product Managers | Channel Managers

Table of Contents

The opportunity ...... 3 CRM: a valuable business investment...... 4 Industry experience drives superior solutions...... 5 Corporate Solutions ...... 6 Marketing Solutions...... 6 Sales Solutions ...... 7 Customer Solutions ...... 7 Call Center Solutions...... 7 Mobile Solutions ...... 7 Wholesaler CRM solutions can deliver substantial value ...... 8 Quick, definitive return on investment ...... 8 Pre-configured integration with industry-leading back office systems ....8 Lower total cost of ownership ...... 8

Think you’re getting all you can from CRM? Think again

Does your organization have the tools you need to acquire and retain a profitable base of channel partners that are loyal to your products?

• Do you have complete visibility into the sales pipeline of wholesale opportunities – and the ability to manage sales efforts toward successful close?

• Are you able to effectively manage customer relationships to ensure continuous satisfaction and follow-on business?

• Do your product managers have the information they need to create insightful production reports on each sales channel to determine the most profitable product mix and the most marketable enhancements?

• Are you able to effectively market to your customers to drive cross-selling and maximize the potential value of existing customer relationships?

• Do you have solutions in place that help you manage compliance?

The opportunity For financial services wholesalers, every Internet. The way that product is distributed business opportunity is dependent on has evolved. And regulatory changes have customer satisfaction. Because the truth is significantly shortened the shelf life of both that today’s customers have a plethora of life and annuity products, creating an choices when it comes to choosing product. opportunity for new business – or the loss of To combat the perception that every product business – every time a product offering is a commodity, wholesalers need to focus becomes obsolete. on two critical areas: ensuring top-notch customer satisfaction – and the loyalty that it creates – and differentiating their product Additionally, the wholesaler’s customer base offerings so that price isn’t the primary is evolving to include brokerages, insurance decision factor. companies, and banks – all competing in each other's markets. As a result,

wholesalers face an unprecedented Why has commoditization become such a opportunity to extend their market reach in burning issue? In the past, wholesale these new channels. customers based the bulk of their business decisions on service. But while service remains the primary differentiator, technology has dramatically changed how business is transacted. Customers can now search for competing products on the

Added to these pressures are changing compliance requirements – including stringent regulations regarding account The Power of Comprehensive maintenance and compliance reports. As a Relationship Management result, the sheer complexity of the business can tend to pull the focus away from Successfully managing customer relationships is managing the sales force and ensuring their critical to the wholesaler’s success. ability to build the all-inclusive customer relationships that result in increased sales. To ensure that each client receives the attention they need and the right products at the right price, CRM: a valuable business a global approach to relationship management is investment key. This means extending CRM methodologies throughout the organization. It means providing To be effective, wholesalers need a wide variety of information at their fingertips. global visibility into each customer touch point, From corporate to product management to and leveraging that information to more effectively sales and marketing, they need a solution develop new products to ensure future growth, to that can help analyze that information to differentiate existing products in the minds of the arrive at the most optimal conclusions, and one that can scale to meet the needs of a customer, and attract and retain a strong, loyal fast-growing organization and a constantly client base that places at least as much value on expanding customer base. For wholesalers, their proven business relationship as they do on a comprehensive CRM solution is a simple product pricing. business investment that cannot be delayed.

Think a generic CRM solution can meet your needs? Think again.

Industry experience drives superior solutions The Tangible Value of Industry Expertise E-Z Data offers an innovative, industry- specific approach to leveraging your E-Z Data’s industry experience provides tangible valuable customer assets. From customer benefits to today’s wholesalers. E-Z Data’s database segmentation; to delivery of solutions are built with the insight of nearly two educational seminars and marketing decades of industry insight. As a result, our campaigns; to management of the back office brokerage and pending case solutions address the wholesaler’s unique processing; to the tools needed by challenges – without significant customization – to wholesalers to deliver an optimal product help deliver real-time, aggregate analysis of mix; our integrated solutions help today’s compliance, risk management, customer evolving wholesale organization deliver better, more comprehensive service while relationship management, policy administration, helping to drive new business and gain a and other systems to maximize return-on- greater share of the distributors’ business. investment and reduce costs. Using E-Z Data’s extensive database, wholesalers can evaluate Our solutions are uniquely designed to help multiple data sources to make quick, intelligent wholesalers: decisions to meet ever-changing compliance regulations, particularly important in the face of Expand revenue by uncovering untapped opportunities in their existing the USA PATRIOT Act, Basel II, the Gramm-Leach portfolio of clients Bliley Act, and, and other regulatory challenges. Tailor individual customer interactions on a multi-channel basis to enhance customer loyalty, satisfaction, and retention unique functionality, our solutions meet the Use proven cross-selling techniques to customer-focused requirements of your help generate new business business. E-Z Data offers unmatched industry expertise and a CRM solution that Improve the productivity of every meets the needs of your entire organization member of their organization – from the robust back-office systems required by wholesalers to the analytic capabilities required for effective product E-Z Data is the only CRM solutions provider management to the interactive selling and focused exclusively on the specialized marketing tools needed by the sales force. needs of your industry. By marrying the The result is a powerful CRM solution that valuable capabilities of CRM with industry- transforms data into insight.

Think CRM is just for Sales? Think again.

While customer relationship management is determine the most appropriate – and often perceived as a methodology designed profitable – product mix. These solutions to drive performance benefits strictly for help the product management team to: customer-facing personnel, the fact is that a rich CRM solution has the power to drive Identify the most desired product significant benefits for the entire functionality from a customer organization. An integrated, centralized perspective CRM solution can provide wholesalers with Define the most profitable product mix the information they need to effectively by customer segment identify and manage new channels, ensure compliance, deliver a profitable product mix, Match product recommendations to and increase customer satisfaction and specific sales cycles loyalty by closely managing each customer Analyze customer buying behavior to contact. By using the power of CRM to predict future trends leverage customer information, wholesalers can strengthen strategic sales and Integrate with third-party data sources marketing efforts and, ultimately, deliver for relevant customer investment and organizational efficiencies that directly portfolio information impact the bottom line.

Corporate Solutions Marketing Solutions Provide management with global visibility to Provide global visibility into customer- help manage customer satisfaction and focused activities, as well as the mechanism effective product management. These needed to drive collaboration among the key solutions help the wholesale management players in sales, marketing, and customer team to: service. Marketing solutions help: Prioritize product and customer activities Create effective marketing campaigns based on market needs around changing market conditions, Identify and close new sales channels such as interest rate changes, new product trends, and evolving customer Help manage complex sales cycles segments Improve sales forecast accuracy Drive corporate branding activities Increase productivity across the based on actual market analysis organization Analyze customer buying behavior to Maintain data and system security to optimize sales and marketing efforts ensure information assets remain safe Target marketing activities to customers and prospects with the highest Effectively manage and realign sales territories and customers propensity to buy Develop and automate referral and lead- sharing programs Product Management Execute cross-marketing campaigns Solutions Generate leads via direct mail and email Deliver the insight required to effectively broadcasting analyze new and existing customer needs to

Sales Solutions Call Center Solutions Empower wholesalers with mobile solutions Help synchronize customer service and that strengthen field sales and service while sales opportunities by allowing phone reps improving accountability. These solutions to more effectively manage customer make it possible to: relationships using scripts, processes, and supervisory tools that require a minimal Automate and standardize prospecting amount of training. Call Center Solutions processes support: Document each customer interaction, Outbound telemarketing and telesales including calls and follow-ups campaigns Create and track customer orders Inbound call management Manage service items Computer Telephony Integration (CTI) Focus product discussions on customer Contact center channels requirements Administration and supervision Track accounts and the influencers within those accounts Lead tracking and distribution See producers in relation to their Automated workflow and call scripting position in the distribution hierarchy Sales activity tracking Selectively control access to sensitive

information, such as contacts, notes, activities, and letters Mobile Solutions Set triggers to generate automatic letters based on customer criteria Enable wholesalers to remain productive – even when on the road. By providing a full menu of downloadable information, the solutions allow users to add and modify Customer Solutions records when disconnected, and then synchronize those changes back to the Help improve distribution customer enterprise database. E-Z Data’s mobile satisfaction, reduce costs, and strengthen solutions include support for: customer control. These solutions make it possible for distributors and producers to: Disconnected laptops View a history of activities with the Palm OS® PDA devices wholesaler Windows Powered Pocket PC View policy details – including total devices value – via the Internet Track account information, including cases pending issue Access all accounts online

Wholesaler CRM solutions can deliver substantial value E-Z Data provides the solutions you need to transform your business and become your customers’ favored provider. Our solutions for wholesalers deliver:

Quick, definitive return on investment Our solutions are eagerly adopted and accelerate investment payback. Our customers experience successful system implementations, high user acceptance, and strong return on investment. We are proven in practice with companies just like yours.

Pre-configured integration with industry-leading back office systems Our solutions for wholesalers provide robust, out-of-the-box functionality for key marketing, sales, and customer service processes.

Lower total cost of ownership A wise investment choice, our solutions leverage strategic technology investments and nearly two decades of industry experience. Our out-of-the-box industry functionality and strategic offshore research and development centers allow us to deliver greater value at a lower overall cost.

About E-Z Data

E-Z Data, Inc., established in 1986, is the leading provider of front-office systems for wholesalers, insurance companies, general agents, broker-dealers, agents, and investment advisors. Its web- based Enterprise CRM Platform™ (ECP™) provides a comprehensive solution to synchronize the efforts of all the key players in sales, marketing, and customer service. E-Z Data clients include American Express Financial Advisors, AXA Australia, ING, MetLife, New York Life, Prudential, and Wachovia Bank. Its web-based Enterprise CRM Platform™ (ECP™) provides a comprehensive front office system to synchronize all key players in sales, marketing, and customer service. E-Z Data’s domain expertise, coupled with mature, industry-specific business components, results in consistently successful customer implementations that are proven in practice. E-Z Data is headquartered in Pasadena, California. www.ez-data.com.