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Retirement Services Sales Benefits from the Right CRM Application
Blog / For Sales Pros / Mar 1, 2014 / Posted by Nikolaus Kimla / 3506

Retirement Services Sales Benefits from the Right CRM Application

Customer relationship management for retirement services salesRetirement services is a very specialized industry.

You are assisting individuals in planning the security of their retirement years—the time in which they will no longer be working for a living and will depend on maximized investments to fully support them.

Retirement services sales is, to say the least, a demanding occupation. On the one hand you must keep abreast of the many different instruments available and evaluate new instruments as they come on the market. On the other hand you must take detailed care of your clients, ensuring their investments are in the right places and consistently earning. You can be considerably assisted by the right CRM solution.

Attention to Detail

A particularly delicate time in retirement services sales is when a sales cycle is in progress. If you’re to win a client, you must clearly demonstrate that you have fully understood their needs and totally have their best interests in mind. You must be timely in all your communications, answers to their questions, quotations and obtaining of necessary forms.

Of course once a sale is made you still need to remain vigilant and ensure the instruments clients have invested remain in force and are earning. You also need to stay on top of any needed renewals so that you continue to keep clients on board.

Sales Administration Support

With the need to constantly monitor such details, the last thing you need is a lack of support in the administration of new and renewal sales. Many retirement services sales agents utilize spreadsheets to track and stay on top of their sales, but the problem with such solutions is the lack of a visual view of the entire sales process. Without proper CRM application, extra time must be spent combing through data to make sure no priority activities are missed—time that could be better spent servicing existing clients and garnering new ones.

The answer is a leading-edge CRM solution. With such a solution you are able to visually track new or existing client sales. These can be viewed in total, or by particular groupings such as a particular financial instrument. Because such a CRM application is tailored to your specific sales process, each sale can be logically followed and vital tasks are not accidentally forgotten or neglected.

Sales Management and the CRM Application

The level of detail for retirement services is multiplied many times when it comes to sales management; a sales manager must be confident that all of his or her agents are tracking each and every sale through their sales funnel or a pipeline. With a leading-edge CRM application sales management can rapidly and fully view the sales pipeline of one agent, a territory, or that of an entire agency or company.

Another often time-consuming aspect of retirement services sales is that of analysis and reporting. An individual agent will need to stay regularly informed of revenue sources; which are the most profitable instruments, and who are your highest-paying clients. The right CRM application provides the facility to rapidly and visually analyze profit centers so that sales efforts remain on-track.

Sales management and financial officers will also have need of these facilities, for the analysis of individual agents, territories or even the whole firm. From these analyses can be created opportunity reports and sales pipeline insights, eliminating the need for constant interaction with agents.

For retirement services sales agents, the automation of important details eliminates the problem of their getting lost in the cracks. Utilize a leading-edge CRM solution and apply the considerable time savings to where it will be most valuable—servicing more clients.

Get your free trial of Pipeliner CRM now.

About Author

CEO and partner of pipelinersales.com and the uptime ITechnologies, which I founded in 1994 and has since played a significant role in the development of the IT-environment. pipeliner is the most innovative sales CRM management solution on the market. Pipeliner was designed by sales professionals for sales professionals and helps close the gap between the requirements of C-level executives for transparency and the day-to-day operational needs of field and inside sales. I am also the founder and Initiator of the independent economic platform GO-AHEAD!, which orientates itself on the principles of a free marketplace in terms of liberal and social responsibility. Connecting people, the trust of business leadership in terms of values such as freedom, self-responsibility, and entrepreneurial spirit, and strengthening their awareness in order to create a dynamic boost within the economy triggered through spontaneity, all stand for the initial ideas surrounding GO-AHEAD! I studied in Los Angeles and Vienna and received my Masters's Degree in 1994. I am married and have 3 children My Specialties are in: Sales Management, Sales CRM Software, CRM Cloud Solutions, SAAS, Business Strategy, Software Development, "Pipeline Management", Social responsibility, outbound sales, b2b sales, inside sales, sales strategy, lead generation, sales process, entrepreneurship, coaching, mentoring, speaker, opportunity management, lead management, Austrian School of Economics

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