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CRM for Credit Unions: Managing Referrals & Incentives in Sugar

by Katie Liesmann on July 24, 2018

4 minute read

As a credit union, having a systemized way to track what offers you are making to members is very important. It’s mission-critical to be respectful of your members time and avoid repeating offers, it’s crucial to make sure your employees get credit for their incentives fulfilled, and it’s key to be able to track referrals related to these offers.

A flexible CRM system, such as SugarCRM, is just the tool to help you better manage referrals and incentives. We’ve built an integration between SugarCRM and Symitar, which can be used to combine legacy and current data to get a full picture of your member. Keep reading for a deeper dive in managing referrals and incentives in Sugar.

Referrals in Sugar

Using a custom module in Sugar called Referrals, you can track and manage referrals. This module notifies all referees when they have a new referral, making it less likely for referrals to slip through the cracks. This module also notifies the referrer when the referral is complete or has aged past a certain time frame without status change.

By tracking referrals in your CRM, you can:

  • Determine what employees, divisions, and  branches have the highest performance
  • Discern which referees are taking too long to follow through
  • Have more accurate metrics around referral success
  • Accurately ensure employees get credit for referrals
  • Track aging referrals
  • Potentially boost employee referrals by providing them with competitive insight into their performance
  • Set goals and quotas for employees referrals and track their progress towards the goal

Smarter Referrals

If you are using a legacy database to track this information, it’s likely difficult for your employees to make smart predictions for incentives to offer members unless they know the member very well. A teller only has a short time of interaction with the member--and they need quick access to the data.

The algorithms custom built for you within Sugar can make it easier for your tellers to see what the best product to offer members are. Using information such as products offered to the member in the past, current incentives available, and demographic information on the member, the teller can quickly and efficiently offer the member something that is likely to be relevant to them.

Incentives in Sugar

You can also use a custom module called Incentives to track and manage all incentives. This acts as a historical timeline of incentives you have run for employees, and what referrals they made under each incentive. Reports in the CRM can be used to automatically calculate payouts to each employee, and you can easily track and alert employees of expiring incentives.

What’s amazing about Sugar is its flexibility. Sugar offers development teams such as W-Systems the ability to adapt it to meet any organizations’ needs. To learn more about using CRM in a credit union or to see a demo specific for your organization, contact us here.