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 →
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?
If all your leads were high quality leads, what would that mean to your business? It could mean obtaining a deeper knowledge of who your target market is and where they are. It could mean a clearer picture of the buyer’s journey and identifying more opportunities to act upon. Essentially, it could mean more sales and more referrals. Continue reading →