CRM stands for Customer Relationship Management. Customer Relationship Management is a marketing and sales strategy devised and applied by a business with the intention of developing loyal clients, resulting in business growth. Each company’s CRM strategy is specific to the business, however they all have one thing in common: client focus. Continue reading →
There are several reasons your existing clients are your business’ most valuable asset.
Increased profits from sales
Increased profits from reduced operating costs
Increased profits from referrals
Not only is it 3-5 times cheaper to keep a client than to engage a new one, but studies show that repeat customers pay more for purchases and purchase more often. Satisfied clients also help your business to grow through referrals to friends and family. Continue reading →
The uptake of CRM software is growing at a steady rate of approximately 13% each year over the last few years according to reports from Gartner (2014; 2015). And with good reason – CRM software enables companies to grow loyal relationships with their clients by allowing a better understanding, segmentation and tiering of their client base, improved targeting of promotions and cross selling, and the implementation of alerts that signal a client is about to depart. CRMs are a complex software that can deliver what many refer to as a ‘360 degree view’ of their clients. Continue reading →
For this month’s post we have taken a slightly different perspective. After an underwhelming firsthand experience with an insurance company that appeared to have missed the bigger picture, we decided that this edition we’d look at how not to implement digital technology. Continue reading →
Thanks to the shift in the customer experience largely influenced by the World Wide Web and the Internet Of Things, the entire competitive landscape is changing. Consumers now prefer ease over price, insurance included. Consequently, it is the companies that provide frictionless experiences that are both relevant and convenient that will always win. Continue reading →
There would have been a time, not that long ago, where if a company told a client “do it yourself”, that company would no longer have that client. But slowly overtime there has been a shift in the role of the client and their involvement in the delivery of services. We saw it with the demise of the petrol pump attendant (although the UK have revived them for a short time), the introduction of ATMs, and more recently the supermarket checkout. Most predominantly customer self-service can be found on the internet. It appears customer self-service is a lot of work voluntarily taken on by the client. So why do clients love self-service?