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The MCIF Dilemma...

You know you need the system, yet you know the system isn't being used

Are you getting all the value you should from your MCIF...

The MCIF (Marketing Customer Information File) is the foundation of a successful Customer Relationship Management strategy. 

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It is the essential tool for understanding your customers, planning sales and marketing strategies, and measuring performance. 

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It captures all the information you have about your customers, and makes it available in one place. 

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You can see at a glance your best customers, your best branches, your best products.

... or is it an expense without a return?

The fact is that the majority of banks are not getting the most out of their MCIF system. For many it is an expense with no return.

Usually this is not because they chose the wrong system. It is because they have not solved the problem of who should operate it. Without an expert operator, the MCIF system can be the barrier between the MCIF users and the MCIF information.

Operating an MCIF is a part time job that requires full time expertise. The MCIF operator needs to combine a set of skills that is difficult to find in one person:

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A marketing professional

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A database professional

bulletA banking professional

In today’s tight job market, it is difficult to find people with one or two of these skills, let alone all three.

The first question often is where should the MCIF reside? In Marketing? In IT? Or should it be distributed to your line sales people?

Any solution is usually a compromise. The IT technician can run inquiries on the system, but may not be involved in the strategic issues behind the inquiry. That means they are not in a position to evaluate whether their answer makes sense.

Conversely, the marketing officer knows the marketing objective or targeting criteria, but may not have the technical skills to retrieve the necessary reports or lists.

Line sales people are usually too busy selling (you hope) to spend time learning and using a marketing information system.

Our recommendation?

Let your marketing people do marketing. Let your IT professionals run and maintain your systems. Let your front line sales people sell.

And let Quantisis Research operate your MCIF. Click here for The Quantisis Solution

 

 

 

 

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