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CRM is not a new technology, and there are plenty of misconceptions of it. With those come a handful of myths that linger in the meeting rooms of financial institutions. Here are five common myths about CRM and the truth you need know.

360 View's own David Acevedo joins Shelly Loftin at the American Bankers Association Bank Marketing Conference to discuss the importance of data-driven marketing and how it's changed in light of the pandemic. Financial institutions have always had a lot of data in their core system or MCIF, but the past year and a half has created the need for data to be more accessible and useable. Listen to this 10-minute interview about how using 360 View CRM to access your data can lead to smarter marketing and improve your growth and retention.

When it comes to marketing at banks and credit unions, millennials get a lot of attention. They’re the largest generation with the biggest workforce, so it makes sense. But, it’s important that you not forget about reaching other generations. Baby boomers, Gen X, and Gen Z are all part of your customer base, and each generation has different financial preferences and priorities.

Let’s take a look at how you can successfully target each one.

The continued growth of digital-only banks and higher customer expectations has put pressure on traditional banks to change their approaches to customer service to remain competitive and relevant.

One way to augment your bank's customer experience strategy is to formalize a digital customer experience program with measurable goals. This program can provide a framework for identifying improvement opportunities and executing new technology and processes to address them.

One rising trend in the financial services industry is the use of a journey-driven transformation approach to optimize the digital banking experience. As part of this approach, financial institutions are making a concerted effort to organize around the customer rather than their products.

This means tracking customer buying habits and activity to better understand their needs throughout their journey with your financial institution. With access to this valuable data and analytics, banks and credit unions can have confidence they’ll get in front of the right people at the right time, something that is especially important when it comesto seasonal buying trends in banking.

Consider the following top benefits of using your CRM to map customer buying behavior and guide your sales and marketing strategies.