CRM System
Allowing users to track and organise their leads contacts and meetings
Client
PhillipCapital
Project scope
3 months
Tools
Figma
Role
Heuristics Evaluation
Competitive Analysis
Design system
Design Mockup
Usability testing
Overview
Currently at PhillipCapital, Financial Advisors (FAs) each have their own way of maintaining or keeping track of their leads contacts (e.g excel file, etc). However with the need to track Financial Advisor's progress with their sales, a CRM system was needed to consolidate all the data and to assist the Financial advisors in managing their leads and clients in an efficient and effective way.
The Problem
With the large number of clients that FAs recieves after each webinars, FAs do not have a system to keep track of their leads contacts and managers would like to have a way to track FAs progress
Our Solution
PhillipCapital has a current CRM platform with limited CRM features. However, according to our data, most Financial Advisors do not use this, choosing to use their own way of maintaining their lead contacts. As it is vital from the company's perspective to have a centralised CRM database that contains all the lead's information and history while allowing managers to track the sales performance of their Financial Advisors. We decided to improve the system with features that enables users to easily manage their leads and clients more efficiently and effectively. We added key features such as a conversation log that helps log key information during appointments with leads or clients that can be used for future reference.
Our High Level goals are:
-
To make the system easy to use with useful features to ensure that Financial advisors are willing to switch from using their system to our CRM system
-
To enable managers to track productivity of their team or individual FA more efficiently.
-
To ensure that Financial Advisors can be proactive in engaging their VIP clients where they are able to easily track client's fund movements to ensure that they can further advise them
Initial Discovery phrase
To ensure we design features that will be helpful to the Financial advisors, we conducted user interviews to get more insights on what features would be useful to them. We did 3 rounds of iterations, validating every iterations with our users.
Insights garnered
Able to keep track of past conversations
Managers wants to be able to track the progress of their Financial advisors
More information on client to better serve them
of users would like to be able to have a space to record information and findings they collect on their clients. FAs are able to refer back on past info when planning for their clients.
60%
100%
of users(managers) want to track the progress of their FAs and team in terms of sales performance or contacting their lead contacts .
50%
of users request more information such as fund movement of their clients to better serve and advice their clients
Features after 3 rounds of usability testing
Dashboard
FAs will have their individual dashboard that shows them their lead contact status, upcoming appointments, sales performance, etc.
Managers will get a similar dashboard but they are able to view the entire branch/ team's performance. This would allow them to monitor the sales performance of the whole team.
Persona
The next step was to create a persona based on the research insights.
Competitive Analysis
Next, I reviewed well known CRM platforms to evaluate their key features. Below are some of the strengths and weaknesses.
Assignments
Managers are able to assign lead contacts to FAs (esp new FAs) as assignments for them to complete.
Managers will be able to monitor the assignment progress and re-assign any outstanding to other FAs if necessary.
Conversation Log
FAs are able to log conversations with their client for that particular meeting. This will help them in recording any important information for future reference.
Client management
FAs are able to create customised tags to group clients into categories. In addition, we provide a feature for clients to be linked by a direct family relationship. This information would be valuable when the FA plans to propose products to their clients.
Fund Movement
We provide client's available cash information where FA will find it useful to know how much cash client currently have in their phillipcapital account. Knowing this would better assist them in planning for their clients.
Client's deposit and withdrawal history is also available for FAs to track. Whenever a deposit is made, FA will be able to contact clients for further actions while any withdrawal will alert FAs to check with clients for any reasons. This will allow FAs to have better reaction time towards clients fund movements to better serve them.
Next Steps
We strive to create a platform that consist of the entire eco system for the FA sales channel starting from a lead to client retention. This can include a wide spectrum of services such as FA training materials, campaigns, financial planning tools and resources. Further research is needed with users to identify what is the next feature to develop in the eco system.