There are several reasons your existing customers 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 customer than to engage a new one, but studies show that repeat customers pay more for purchases and purchase more often. Satisfied customers 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 customers by allowing a better understanding, segmentation and tiering of their customer base, improved targeting of promotions and cross selling, and the implementation of alerts that signal a customer is about to depart. CRMs are a complex software that can deliver what many refer to as a ‘360 degree view’ of their customers. 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’s no denying that the insurance industry is a highly competitive market. With more outsider businesses, such as banks and supermarkets, offering insurance products, the competitiveness of the insurance market is only looking to increase. How are SME insurance businesses, such as brokers, able to compete with the giants?
There are a lot of myths out there about online payments and we’re here to set the record straight. Unfortunately many business owners are still scared of online payments, or think they aren’t necessary for their business. These business owners are in fact missing out on an opportunity to please and attract clients, reduce back office processes and save money. We’ve debunked 7 common myths so your business doesn’t have to miss out any longer.
Almost a year ago we posted on how mobile apps can improve the workplace. Flexibility, communication, productivity, customer expectations, and job satisfaction made up the list of many benefits that apps can bring to a business environment. With these benefits in mind, apps can prove to give your business an edge on your competition. This post we wanted to explore in greater depth just how mobile apps can help your business stay ahead of the competition and help build your brand. Continue reading →
There would have been a time, not that long ago, where if a company told a customer “do it yourself”, that company would no longer have that customer. But slowly overtime there has been a shift in the role of the customer 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 customer. So why do customers love self-service?