Revolutionizing marketing operations and customer experience for Central Finance
Central Finance (CF) is a leading licensed finance company in Sri Lanka founded in 1957, with an asset base exceeding Rs 114 billion and offering a diverse portfolio of services including savings and deposits, loans and advances, credit cards, insurance, and leasing. The company services over 170,000 customers across all regions of the island, from Colombo to Trincomalee and from Jaffna to Matara, via 103 branches and over 1,700 staff.
Improve customer satisfaction
Agents were able to track customers’ historical data and engagements when responding to inquiries, thereby catering to their needs on a personal level and improving customer satisfaction.
Enhance sales team productivity
With a 360-degree view of customers, agents were able to keep track of past activities, follow up on leads and grow/convert opportunities, while getting recognized and receiving incentives internally.
Increase marketing campaign performance
The optimized processes helped generate a higher return on digital marketing investments, create customer loyalty through superior campaign performance, and unlock real-time performance decisions during critical campaign cycles.
Streamline business processes
By enabling multiple options such as sending notifications to the customer, sending follow-up emails, and passing complaints to higher management, the entire complaint management process became more efficient and user-friendly.
The Challenge
Central Finance has multiple systems for different business units; owing to this, customers’ historical data, interactions, engagements, and inquiries from different mediums such as social media, messages, and physical visits were scattered and not connected to a centralized database. As a result, they faced the following issues:
- Inability to create a seamless customer experience
- Limited capabilities for targeted promotions
- Difficulties in measuring team productivity
Solution Offered
Central Finance’s main requirement was to consolidate all existing systems into a centralized platform and streamline processes to get an overall view of its customers. Owing to its BFSI industry experience, technical knowledge, implementation experience, and relationship with the customer, MIT ESP was able to suggest the implementation of Sales Cloud and Service Cloud to integrate all systems, and Oracle Marketing solutions to improve visibility into their customer base and get a unified view of marketing prospects.
Implementation of Sales Cloud and Service Cloud
The Sales Cloud and Service Cloud solution helped CF to reduce inefficiencies in its processes and to generate more leads and opportunities. In order to integrate all customer touchpoints, MIT ESP recommended implementing Cisco call center integration, which would also allow agents to retrieve all information, past interactions, and past contracts to get a 360-degree view of a customer.
Implementation of the Oracle Marketing solution
The Oracle Marketing solution helped CF to improve visibility into their customer base and get a unified view of their customers. The Social Relationship Management solution implemented by MIT ESP provided an analytical view of Central Finance’s social media presence and connected all platforms to one solution, which allows them to identify customer preferences and trending topics in order to enhance the customer experience.