The competition in the commercial banking sector has grown in recent years. Banks are not only competing with each other, but also with new players such as neobanks, fintech companies, and alternative lenders, making it more challenging for them to attract and retain clients.
To stay competitive, commercial banks need to adopt a new approach to client acquisition. Banks that continue to rely on traditional methods such as spreadsheets, cold calls, and purchased lists are likely to fall behind. A data-driven approach, however, can enable banks to identify better-qualified leads and give them the attention they require. Opportunities with lower probabilities but still attractive can be maintained through drip campaigns and marketing journeys. Ultimately, this approach can lead to a larger client base and a stronger business future.
Atrium’s Data-Driven Client Acquisition solution allows relationship managers to effectively prospect and acquire new clients. By utilizing data insights from external sources, teams can pinpoint potential clients that align with their ideal client profile, including their desired services and referral sources. The solution allows teams to measure their performance by tracking activities, meetings, pitches, key contacts, and relationships. Additionally, it helps in refining and standardizing sales processes which can aid in identifying and resolving obstacles in the sales pipeline, ultimately leading to an increase in conversion rates.
Maintaining a strong commercial loan portfolio is vital to the overall success and health of the institution. Atrium’s Data-Driven Client Acquisition solution can help by bringing better leads into your pipeline, and making sure your team is armed with the insights to better serve them, creating lifelong, happy client relationships.
Automate and streamline the lead generation and conversion process by leveraging existing client, ideal client, and 3rd party data for scoring and propensity to buy models, acquire new clients and predict the likelihood to win new business with existing relationships.
Track and manage client and prospect interactions across different channels. Identify the most profitable clients and prospects in order to personalize offerings, increase engagement, and surface the right information for relationship managers to take action.
Measure campaign effectiveness, ROI impact, and optimize marketing efforts.
Incorporate referrals from Centers of Influence to the top of the funnel, prioritize with likelihood to convert models, and match most qualified referrals with appropriate LOB relationship managers.
Manage and track potential pipeline throughout the sales cycle. Prioritize deals, 1st-year revenue and fees, and identify potential roadblocks. Understand stalled deals, deal risk, and impact on the forecast. Integrate lower probability opportunities on drip campaigns and marketing journeys to give sales more time to focus on closing business.
Leverage Next Best Action for personalized and relevant recommendations to clients based on their behavior, goals, and interactions.
In addition, create and track custom plans and pitches, engage other LOBs, and optimize customer interactions and account management processes .
Increase the return on technology and data investments by surfacing insights enhanced by 3rd party data in Salesforce, where users work on a day-to-day basis, and providing them with an action framework to increase the likelihood of a positive outcome.
We help Financial Services businesses in banking, wealth management, and mortgage create compelling, intelligent experiences to attract and retain clients and achieve ROI on data science investments in the process.
Atrium helped Capital One win more business from their third-party data. With Bloomberg/UCC and Salesforce data surfaced directly in their CRM Analytics instance, relationship managers are able to proactively identify likely prospects. This gave Capital One a data-driven competitive advantage.