Banks and asset management firms are looking beyond customer volumes as a way to improve their bottom line.

Embracing social CRM offers significant potential marketing, sales and service upsides. But you’ll need to handle social CRM correctly to benefit from maximum business impact.

What’s the next, best step for your customer service program? To improve customer satisfaction, efficiency, and revenues, first understand where your service program lags and excels.

With a good master data management program, your organization can reduce its spending on non-value-producing activities, and instead focus on more strategic, high-value pursuits that generate additional customer satisfaction and revenue.

Twitter breakdown: If your customers have to call, email and finally tweet to get a response, it means that your customer service practices are broken. Cue customer defections.