For the past couple of years, credit unions have been implementing lead and opportunity management processes and systems. Here is my take on the evolution of our credit union's system thus far. Please feel free to challenge me if I've missed anything.
1. Just get a lead
That's right! Just get a lead. Any ole' lead will do. Incentives will be paid for leads. Employees are expected to scan for opportunities. Not just opportunities for new checking accounts, savings, etc but for mortgage, investments, and insurance products and services.
Once the lead is generated, the employee's job is done. It's up to someone else to get the business.
2. Need Quality
Departments processing the leads were complaining about quality. They were wading through the stank to find sweet smelling quality leads. To reduce the smell, incentives were based on quality leads.
3. Cross Selling
Systems were created to help employees cross sell products and services. This was the perfume. If an employee can smell, they can cross sell. Incentives are not adjusted.
4. Management Dilemma
Should employees really be paid to help generate business? Isn't that a part of everyone's job?
5. CEO Question
What's the ROI on the incentives being paid? How much business is the credit union getting from leads?
#4 and #5 are often overlooked or dare I say....IGNORED. In order to truly calculate an ROI, monitoring systems would have to be built. I.T. folks are saying that this is virtually impossible. Especially, given the number of disparate systems an average credit union operates.
Are your leads stinkin' up the place? Our leads were and we decided to start over. We've built a system that is all about efficiency and is based on Web 2.0 standards. Additionally, we're building a monitoring system that will track how the leads are performing. We like happy CEO's.