{"id":11658,"date":"2018-07-16T14:39:00","date_gmt":"2018-07-16T21:39:00","guid":{"rendered":""},"modified":"2023-07-03T14:15:33","modified_gmt":"2023-07-03T21:15:33","slug":"enrich-customer-relationships-with-intelligent-sales-advisor","status":"publish","type":"post","link":"https:\/\/www.microsoft.com\/en-us\/industry\/blog\/financial-services\/2018\/07\/16\/enrich-customer-relationships-with-intelligent-sales-advisor\/","title":{"rendered":"Enrich customer relationships with Intelligent Sales Advisor"},"content":{"rendered":"<p><strong class=\"alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-486077 alignleft\" src=\"https:\/\/www.microsoft.com\/en-us\/industry\/blog\/wp-content\/uploads\/2018\/04\/Howard.jpg\" alt=\"Howard Bush headshot\" width=\"143\" height=\"187\" \/>Howard Bush is a Principal, Banking and Capital Markets Lead on the Azure Cloud Industry Experiences team at Microsoft. Howard is a 25+ year banker, wrapped in IT clothing, building bridges to cloud adoption impacting the Banking and Capital Markets industry at the speed of innovation.<\/strong><\/p>\n<p><strong>Below, Howard\u00a0provides insights on how artificial intelligence (AI) is empowering banks to deliver differentiated customer service through personalized experiences and relationship selling.<\/strong><\/p>\n<h2>Personalizing retail banking with AI<\/h2>\n<p>In the 1950s, being a successful retail banker meant developing lasting relationships\u2014taking time to understand each customer\u2019s personal and financial goals. Bankers listened carefully and internalized details about each customer\u2019s business network, community involvement, and personal relationships. This informal social database was key to a bank\u2019s success, and experienced bankers passed information along to new hires much in the way folklore is passed from one generation to the next.<\/p>\n<p class=\"alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-488959 alignleft\" src=\"https:\/\/www.microsoft.com\/en-us\/industry\/blog\/wp-content\/uploads\/2018\/07\/Picture1-5b4d0412b8b6c-2.png\" alt=\"p1\" width=\"300\" height=\"176\" \/>In a world dominated by automated processes, this relationship-based approach to banking has fallen by the wayside. Far from serving as trusted advisors, some bankers have become cogs in an impersonal financial services machine. Today, only 24% of consumers believe their bank understands their current goals.<sup>1<\/sup> Because of this, many banks are looking for new ways to help sellers and advisors cultivate the reputation of reliability, trust, and competence they need to establish and maintain customer relationships.<\/p>\n<p class=\"alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-488960 alignright\" src=\"https:\/\/www.microsoft.com\/en-us\/industry\/blog\/wp-content\/uploads\/2018\/07\/Picture2-5b4d042d6b0e1-2.png\" alt=\"p2\" width=\"300\" height=\"180\" \/>\u00a0Advances in AI are empowering bankers to bridge the understanding gap to their customers and reestablish themselves as trusted advisors. Though financial services firms are in the early stages of AI adoption, 32% are already using AI technologies.<sup>2<\/sup> Given that improving customer experience is a priority at more than 90% of large banks, it\u2019s no surprise many of these early adopters are focused on engaging customers more effectively.<sup>3<\/sup> According to a recent survey, generating personalized communications at scale is one of the key reasons today\u2019s financial services organizations are turning to AI.<sup>4<\/sup> As banks and financial services organizations adopt AI, many are also beginning to explore intelligent sales strategies that leverage AI-generated insights to help advisors foster lasting relationships by tracking life events, business activities, and professional relationships that matter to customers.<\/p>\n<h2>Transforming customer engagement with Intelligent Sales Advisor from Microsoft<\/h2>\n<p>Intelligent sales strategies leverage technology to map customer interactions, identify customer networks, and highlight opportunities to influence customer behavior early in the buying cycle. \u200bDeploying these strategies enables sellers and advisors to highlight the value they deliver for customers and make contacts aware of their professional skills. Intelligent Sales Advisor from Microsoft provides pre-integrated software as a service (SaaS) apps and platform as a service (PaaS) technology that leverage AI, empowering advisors to make informed decisions based on each customer\u2019s actions, behavior, and personal network. To provide these capabilities, Microsoft combines its portfolio of customer relationship management tools and advanced cognitive services with partner cloud applications that aggregate customer data and leverage predictive analytics to provide actionable insights and anticipate each client\u2019s needs.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-488961 size-large\" src=\"https:\/\/www.microsoft.com\/en-us\/industry\/blog\/wp-content\/uploads\/2018\/07\/Picture3-5b4d0458268c1-2.png\" alt=\"p3\" width=\"1024\" height=\"372\" \/><\/p>\n<p>LinkedIn Sales Navigator, VeriPark Customer Insights, and VeriPark Next Best Action empower advisors to identify high-potential leads, build holistic customer profiles, anticipate customer needs, and personalize client offers and alerts. VeriPark\u2019s VeriTouch and VeriChannel solutions enable more effective customer acquisition by providing a secure platform that empowers organizations to manage seamless customer journeys across multiple touch points. Finally, Microsoft Office 365 and Microsoft Dynamics 365 for Sales complement these capabilities by providing sellers with the business tools they need to communicate effectively and manage ongoing customer relationships. By uniting these solutions, Microsoft\u2019s Intelligent Sales Advisor scenario empowers banks to transform the way advisors work.<\/p>\n<p>Instead of cold calling or sending templatized emails, advisors using Intelligent Sales Advisor leverage data-driven sales recommendations that help them track customer transactional activity and identify the appropriate financial products and services to offer. Additionally, Intelligent Sales Advisor creates personalized communication processes that enable sellers to establish themselves as trusted advisors by engaging clients more effectively and delivering differentiated customer service.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-488962 size-medium alignleft\" src=\"https:\/\/www.microsoft.com\/en-us\/industry\/blog\/wp-content\/uploads\/2018\/07\/Picture4-5b4d0499a1e6d-2.png\" alt=\"p4\" width=\"300\" height=\"176\" \/>Intelligent sales strategies are already delivering impressive results. Research indicates that banks deploying machine learning tools to predict customer needs and guide outreach can increase sales pitch response rates by a factor of 20.<sup>5<\/sup> Why do these strategies work so well? Because advisors leveraging intelligent sales techniques know how to engage the right customers at the right time, they gain customer interest and mindshare. Rather than receiving generic emails or awkward cold calls, customers receive tailored messages that correspond to their current needs. This personalized outreach builds trust, which, in turn, enables advisors to cultivate lasting relationships built on an understanding of each customer\u2019s goals and challenges.<\/p>\n<h2>Delivering a new era of personalized banking<\/h2>\n<p>Just like in the 1950s, new relationships, enabled through social channels, are timeless bridges that connect trusted sellers to the customers they serve. Helping customers make the right choice at the right time has always been at the heart of sales. While times have changed and new technologies have emerged, listening to customers and understanding their individual goals remains critical. Leveraging intelligent tools enables advisors to deliver the personalized service customers have always expected at the speed and scale today\u2019s business environment demands.<\/p>\n<p>Check out the Intelligent Sales Advisor scenario on Microsoft.com\/Banking today to learn more about empowering your sellers to deliver differentiated customer service, build better relationships, and grow their customer portfolios.<\/p>\n<p>To stay connected to the latest in the Financial Services industry, follow me on <a href=\"https:\/\/twitter.com\/HowardBush2?WT.mc_id=IntelligentSalesAdvisorScenario-Blog2-hbush\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> and <a href=\"https:\/\/www.linkedin.com\/in\/howardbush\/?WT.mc_id=IntelligentSalesAdvisorScenario-Blog2-hbush\" target=\"_blank\" rel=\"noopener\">LinkedIn<\/a>.<\/p>\n<hr \/>\n<p><sup>1<\/sup>NIIT Technologies, Delivering Personalized Digital Banking Experience, Undated<\/p>\n<p><sup>2<\/sup>Narrative Science, The Rise of AI in Financial Services, 2016<\/p>\n<p><sup>3<\/sup>Digital Banking Report, Improving the Customer Experience in Banking, 2017<\/p>\n<p><sup>4<\/sup>Narrative Science, The Rise of AI in Financial Services, 2016<\/p>\n<p><sup>5<\/sup>McKinsey &amp; Company, The future of customer-led retail banking disruption, 2017<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Learn how Intelligent Sales Advisor from Microsoft is empowering bankers to enrich customer relationships and deliver differentiated customer service.<\/p>\n","protected":false},"author":843,"featured_media":11812,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ms_queue_id":[],"ep_exclude_from_search":false,"_classifai_error":"","_classifai_text_to_speech_error":"","footnotes":""},"categories":[1523],"post_tag":[],"content-type":[1492],"coauthors":[4311],"class_list":["post-11658","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-services","content-type-news-and-announcements"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Enrich customer relationships with Intelligent Sales Advisor - Microsoft Industry Blogs<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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