A new report from Aite Group found that 25% of advisors surveyed don't have a CRM or don't find it applicable to their businesses. The problem is not the CRM, it's that advisors are not being trained on new software.
The press release says Aite Group's report rates seven CRM systems, but the ratings of these apps fail to reflect an important component in adoption of new software: training.
The most popular and sticky apps used by advisors are simple and require no training. Unfortunately, CRM systems require training.
CRM is now the most important app in advisor practice management because it is used to manage clients and employees. Embedding your workflows is difficult but necessary in order to get the most from a CRM, but few advisors get that far with their CRM systems.
For advisors to utilize CRM systems effectively, the training they get can be as important than the CRM's ease of use.
Advisors need to know that buying a CRM is only a first step. To adopt a new CRM takes training and planning. It takes time for an employee in your firm to learn how to use software for his job.
You need to make sure he employees get the resources and training materials to learn the app, and you must tell--or show--him how he's expect to sue the program in his job.
Once an employee masters the basics, you want to ask him for suggestions about how to use the app more effectively.
Once you've achieved adoption, be prepared to devote the resources to continuously improve how you use the software by molding it around your practice.
Unless an advisor works through these CRM adoption issues, they will only scratch the surface in using a CRM to improve productivity.