Financial services enterprises operate in a challenging sales and marketing environment. The recent financial crisis eroded consumers’ trust in the financial community and resulted in increased governmental scrutiny of the sales and marketing activities of financial services firms. In addition, many financial products and services are complex and difficult to understand, and many purchases of financial products or services are high-stakes decisions for the potential buyers.
Because of these conditions, most financial services enterprises are high-touch businesses that rely on their frontline representatives to generate revenues. In recent years a growing number of financial services firms have turned to a variety of technology-based tools to boost the sales and marketing effectiveness of their frontline representatives. In general, these solutions are designed to streamline sales, marketing, and sales support activities for both the enterprise and its frontline representatives.