How to Make Financial Service Customer On-Boarding Process Effective?


Customer onboarding is related to all activities to introduce your services, product, and company to your new customers. Rather than informing your customers about your all offers and product, you have to introduce all gradually. In the customer on-boarding process you have to listen to all the queries of your customers and have to offer them good products and services. In a nutshell, it is all about making their experience quite smooth.

We have brought this post today to throw some light on the customer onboarding process and the way to make it more effective. However, we will also discuss some other factors related to customer onboarding related issues. Let us start our discussion with small focus on the importance of customer on-boarding process.

Importance of Customer On-Boarding Process

For every business, the customer is the most valuable asset, and you must try to keep them happy that only can make your customer onboarding successful. The complete process is all about delivering the services on agreed conditions. It does mean to deliver the services in best way to the customers. This is the step and point about which many companies do not think and that is why it becomes somewhat important for the companies.

Customer onboarding can make your customers happy some other benefits that you can get through the complete process are listed below:

Importance of Customer On-Boarding Process

A). Customer Comeback Reward

Happy customers will be more likely to buy your services again that may be a reward for you. Repeat or come back customers are the assets for your business. It costs more to acquire a new customer rather than maintaining the existing one. This makes coming back customers more valuable. They decrease the retention rate and increase organizational revenues.

B). Customers will Bring More Customers

Do you know about word-of-mouth marketing? When one of the satisfied customers recommend your service or product of other customers in their network, then it is always considered beneficial for your business. The value of customer network marketing cannot be measured. Every customer like to use and believe that service which has been used by any of their near and dear one or is recommended by their friend or any well-known.

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C). More Money Making

Making more money is just a driven benefit of the aforementioned points. If you will try and put effort into more customer come-back, then you may make more money even without making the sale. All of your these efforts are not only to increase your sale even you will get more money or increased revenues as a benefit as well.

Changing Expectations of New Customers of Financial Sector

Today the customers are using the latest technologies and so have become more adaptive as well. All businesses that want to survive in today’s era need to get connected with their customers and respond to their queries in timely manner. Just like other industries the expectation of financial industry is also increasing every day. That is why customer-driven approach is of utmost importance and requires strategic shift as well.

The financial service providers need to deliver innovative and quality services to each and every customer. If you are not aware of what customer onboarding is for financial institutions and banks, then it is just all about the completion of specific tasks that may not be tracked.                                                                                                    

Customer onboarding is a key step towards establishing customer expectations. The first experience of the customer can build trust and give them the message that you actively listen to their problems and resolve the issues as well. Any bad experience can raise questions on your reputation and lead to unsatisfied customers, loss of business opportunities and frustrated employees.

Financial service providers can provide easy and fast services through a single platform and make customer on-boarding process more effective. It may also promote the growth of new customers and may help in not disrupting the existing relationship of customers. The customer onboarding process can prioritize the customer’s expectation and build a strong relationship as well.

How to Provide Better Customer Experience through Salesforce Lightning Bolt?

With the help of the Financial Service cloud, the capabilities of financial service providers have been increased. They can get streamlined and managed client’s information and can focus on improving banking standards. Salesforce like CRM can help the financial organization in providing better opportunities and creating positive customer experience.

Salesforce Lightning bolts are there that can provide the templates for the business process that can also accelerate the business ecosystem. Salesforce Lightning Bolt can provide streamlined onboarding experience to the customers of financial services with the help of its built-in automation tools

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The tools of Salesforce Bolt can guide on every step of customer onboarding automation process. It can also analyze the customer experience and provide and guide through every step of this journey of the customers. This may enable financial institutions and banks to provide targeted product recommendations at right time that too, at any point in the customer journey.

The customer onboarding process does not only involve better branding experience. Instead, it also includes many other business objects, workflows, and configuration by which the best practices can be adopted by the businesses. Some of the steps include the following:

How to Provide Better Customer Experience through Salesforce Lightning Bolt?

1). An On-Boarding Timeline

This gives a real picture of customer on-boarding journey experience. It can give insights into their real-time journey.

2). Automated Product Recommendations

The customer responses can be automatically evaluated, that may help in precisely recommending the product. This may also evaluate customer response.

3). Guided Workflow

If you are new to Salesforce Lightning, then you will be thoroughly guided throughout the path that may eventually simplify all steps of customer on-boarding.

Overall Benefits of Customer On-Boarding Process

Though there are many benefits of all the steps and process of this process, here we are going to enlist a few of them:

  • Accelerated deal cycle
  • Less coding and decreased implementation effort
  • Make sure that customers and providers are on the same page
  • May help the banks and financial service provider to focus on their important issues
  • May speed up the development process and reduce the duration of the full project
  • Can easily automate repetitive and regular activities
  • Increased transparency across the organization
  • New features and capabilities can be easily added

This may help in providing efficient and quality services to the customers. Slowly you may entertain and welcome all of your new and existing customers, and they will feel honored.  You can also effectively connect to your customers and make their experience of onboarding journey far better. Salesforce configuration can help in easy adoption of the services and manage customer requirements. You can also save time and money and increase the value of your service by managing the increased customer requirement.  You can check the Salesforce website to get more insights into Salesforce Lightning Bolt.

Final Word

The customer onboarding experience can be made more effective by using Salesforce Lightning Bolt like CRM. As it may not only make their journey smooth but also attract new customers and increases business revenues. The prebuilt accelerator can save your time and money and increase business value, as well. Salesforce Lightning Bolt is no doubt an unmatched solution for customer-on-boarding process or journey. Leverage the platform and drive more customers.

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