Why a “Big Box” CRM Won't Really Help Your Credit Union

When navigating the complexities of the contemporary financial landscape, credit unions encounter plenty of options for cultivating meaningful member connections. In the thick of these choices, the spotlight usually falls on off-the-shelf Customer Relationship Management (CRM) software, commonly known as "big box" CRM solutions.

 Delve into our blog to unravel the pivotal role these solutions play, discover why a more custom adoption is crucial for credit unions, and explore how our insights pave the way for navigating this transformative terrain with precision.

At 360 View, we firmly believe that there is no one-size-fits-all solution when it comes to CRM software for credit unions. In this article, we'll dive deeper into the world of CRM software, explore the key differences between our banking CRM solution and off-the-shelf options, and provide you with three compelling reasons why "big box" CRM won't truly help your credit union unlock its full potential.

What Is Customer Relationship Management Software (CRM)?

New call-to-actionBefore we delve into the intricacies of CRM software and why off-the-shelf options might not be the best fit for your credit union, let's start with the basics. CRM stands for Customer Relationship Management, and it refers to a set of tools and strategies that organizations use to manage and analyze their interactions with members. CRM software is designed to help businesses and credit unions alike streamline their processes, improve member relationships, and ultimately boost revenue.

A CRM system typically includes features like contact management, lead tracking, sales automation, marketing automation, and member support. It's a valuable tool for credit unions to keep track of their members' needs, preferences, and interactions, enabling them to provide a more personalized and efficient service.

Banking CRM Software vs. Off-the-Shelf Software Solutions

We are a CRM software built by bankers, for credit unions. Specifically designed for the financial industries. We offer a complete suite of tools to help you maximize your team's performance and grow your institution. We tailor our software to you and your needs, not the other way around. 

Let's explore other fundamental differences between 360 View’s CRM software and off-the-shelf solutions.

  • Tailored to Your Unique Needs: Off-the-shelf CRM solutions are generic and designed to serve a wide range of businesses across various industries. They offer a one-size-fits-all approach, which can be limiting for credit unions. Credit unions often have unique needs, regulatory requirements, and member engagement strategies that can't be adequately addressed by a one-size-fits-all solution. Our CRM software, on the other hand, can be tailored to meet the specific needs and goals of your credit union. We are a banking CRM software, made by bankers for bankers and financial institutions. Whether it's integrating with your existing systems, adhering to compliance standards, or providing advanced member tracking, our banking  CRM is designed with your credit union in mind.
  • CRM Statistics states, businesses, including credit unions, are increasingly recognizing the pivotal role of Customer Relationship Management (CRM) solutions, and the global CRM market is projected to surge to approximately $128.97 billion by 2028, noting its growing significance and need. A custom solution whether it's integrating with your existing systems, adhering to compliance standards, or providing advanced member tracking, might just be the important piece you are missing.
  • Expert Integration and Migration: Credit unions often rely on complex data systems, and transitioning to a new CRM can be a challenging process. Off-the-shelf CRM solutions may not provide the level of expert integration and migration support necessary for a seamless transition. Our banking CRM development offers you the expertise and support required to ensure a smooth migration, reducing downtime and minimizing disruption to your credit union's operations.
  • Access to Customer Service Reps: When issues or questions arise with your CRM software, having access to knowledgeable customer service representatives is crucial. With off-the-shelf CRM solutions, you might find yourself navigating through a maze of automated responses and support forums. A custom CRM development typically includes ongoing support from experienced professionals who understand your specific CRM system, ensuring that your credit union can address challenges promptly and effectively.

3 Reasons Why "Big Box" CRM Won't Really Help Your Credit Union

Now that we've explored the differences between custom CRM software and off-the-shelf solutions, let's discuss three compelling reasons why "big box" CRM might not be the ideal choice for your credit union:

Lack of Customization and Personalization: Off-the-shelf CRM systems offer limited customization options. Credit unions thrive on personalizing their member experiences and services. To truly engage and retain members, you need a CRM system that can be tailored to your unique brand, culture, and member engagement strategies. Our banking CRM development allows you to create a personalized experience that strengthens the bond between your credit union and its members.

Inefficient Marketing Automation: Effective marketing is a cornerstone of credit union growth. However, off-the-shelf CRM solutions often provide basic marketing automation tools that lack the sophistication needed for targeted and data-driven marketing campaigns. Our banking CRM software can empower your credit union with advanced marketing automation capabilities, enabling you to segment members, analyze data, and deliver personalized marketing content that resonates with your audience.

Missed Revenue Opportunities: Credit unions operate in a highly competitive financial landscape. To stand out and thrive, you need to identify and seize revenue-generating opportunities. Off-the-shelf CRM systems may not provide the insights and analytics necessary to uncover these opportunities. Our custom banking CRM can equip your credit union with advanced data analysis tools that allow you to make data-driven decisions, identify trends, and discover new revenue streams.

A CRM for Credit Unions: Elevating Member Experiences Beyond "Big Box" Solutions

In conclusion, the choice between off-the-shelf CRM and custom CRM software is a critical decision for credit unions. While the convenience and affordability of "big box" CRM solutions may seem attractive, the limitations they impose on customization, integration, and support can hinder your credit union's ability to provide exceptional member experiences and drive growth. Our banking CRM development offers a tailored solution that aligns with your credit union's unique needs, helping you build stronger member relationships, improve your employees' and members' experiences, and ultimately increase revenue.

360 View is here to support your credit union's journey towards a custom banking CRM solution that can help you reach new heights in member engagement and financial success. Your credit union deserves more than a "big box" CRM—choose a solution that's as unique as your credit union itself.

Schedule a demo today to see how 360 View can help you provide your members with the personalized service they expect. Or click to download our guide below and see how to get started.

Download the Getting Started with CRM Guide