Life Insurance is a Contract between an Insured and an insurer where
|
|
- Angelina Cox
- 8 years ago
- Views:
Transcription
1 Importance of Customer Service in Life Insurance Life Insurance is a Contract between an Insured and an insurer where the insured agrees to pay premiums for his/her life insurance policy in due dates and the insurer agrees to pay sum of money under agreeable contract upon the occurrence of death or other event, such as illness or accident of policy owner. Customer service is an integral part of life insurance organization. It is necessary to identify the key success factors in life insurance industry, in terms of customer satisfaction so as to survive in intense competition and increase the market share. Customers often react strongly to service failures, so it is critical that an organization s recovery efforts be equally strong and effective. The life insurance providers need to reconfigure their strategy and business to sustain or improve their competitive advantage, and for this they first need to consider how to create a satisfied customer base. For answering this fundamental question, these companies must realize the necessity of studying and understanding various antecedents of customer satisfaction. A number of studies in different fields confirmed that service quality is the antecedent towards customer satisfaction. Therefore, the Life insurance players need to realize that their business depends on client service and the satisfaction of the customer and therefore it is imperative for them to improve customer service quality. In Sri Lankan insurance industry Life insurance is still not reach to the expected level of the market. Most of the customers who have taken a life insurance policy bought that policy with the intention of having long term protection for their lives. At the time of death, Hospitalization or disability they expect protection from their life insurance policy. But, some of them are not totally satisfied with the service which they get from their insurers. The most common reasons for their negative image involve bad claim experience, dissatisfaction with agents, dissatisfaction with functional services and service delays. Therefore it s crucial for Life insurers in Sri Lanka to improve their service quality ensuring customer satisfaction in order to successful in the market. The companies that offer the best technologies and great quality in every service and that have trained and motivated its employees in order to provide an efficient service are creating adequate framework for the success of a relationship marketing orientation. Most of the researchers are dealing with identification of attributes of service quality. In a competitive marketplace where businesses compete for customers, customer satisfaction is seen as a key differentiator and increasingly has become a key element of business strategy. Within organizations, customer satisfaction ratings can have powerful effects. They focus employees on the importance of fulfilling customers expectations. When a brand has loyal customers, it gains positive word-of-mouth marketing, which is both free and highly effective. Therefore, it is essential for businesses to effectively manage customer satisfaction. Page 1
2 In Life Insurance Industry the Brand is the service standards provided by its employees. Therefore, it s crucial to maintain better service standards through quality employees in order to fulfill customer expectations in Life Insurance Industry. Service standards and service levels should be maintained not only by the operational staff who is involve with the technical decision making process and payments, but also it should be maintained and practiced by sales staff and call center agents who directly involve with the customers. The level of satisfaction a customer has with a company has profound effects. Studies have found that the level of customer s satisfaction has a positive effect on profitability: A totally satisfied customer contributes 2.6 times as much as revenue to a company as a somewhat satisfied customer. A totally satisfied customer contributes 17 times as much as revenue as a somewhat dissatisfied customer. A totally dissatisfied customer decreases revenue at a rate equal to 18 times what a totally satisfied customer contributes to a company. Research has shown that when a person is satisfied with a company or service they are likely to share their experience with other people to the order of perhaps five or six people. However, dissatisfied customers are likely to tell another ten people of their unfortunate experience. With social media readily available for consumers to tell their story to all of those online, you can easily go to Twitter or Facebook and read about someone s experience with a company or service. However, merely focusing solely on customer satisfaction has its drawbacks in the marketplace as well. For those companies that focus only on customer satisfaction run a real risk a failing to differentiate their brand from others. In order to achieve long-term sustainability companies must seek to establish ties of loyalty with consumers that are strong enough to ward off the advances of competitors. Customer loyalty is much harder to obtain than satisfaction. Even though customers are satisfied with the company there are several factors that could cause the customer to defect to the competition, such as finding a better value or the competitor is more convenient. With that said, having high levels of customer satisfaction does not always lead to customer loyalty. However, a company cannot achieve customer loyalty without having customer satisfaction. Page 2
3 We all have stories about when we were treated exceptionally well or extremely poorly. We tend to share these extraordinary stories with others. We all know that word of mouth marketing can be the absolute best advantage or the worst drawback for a company. Warren Buffett said it best: It takes 20 years to build a reputation and five minutes to ruin it. Therefore, it s clear that for what extend the service quality will be effect on customer satisfaction. Therefore it s important to discuss on Top Five Customer service Metrics when considering about the customer satisfaction upon service quality of Life Insurance Industry. Following are the Top Five Customer Service Metrics; Top Five Customer Service Metrics Service Level For call centers, support, and service desks, first call resolution is the Holy Grail. The first interaction with a customer will be a key determinant of whether the customer will return. Don t underestimate the importance of timeliness and thoroughness. Customer Retention For Service businesses like insurance, Utilization is the best indicator of a customer s dedication to your service. Use this metric to understand who is at risk at contract renewal time or claim settlement time. You should know which customers are using or buying different parts of your business. These customers who are with you for a long period of time are perhaps your most important customers to focus on for your retention strategies. Response time You d be surprised how many customer surveys come back with comments such as your service is great, you got back to me right away. I was surprised with how quickly you responded to my inquiry and it made all the difference even if I didn t get the answer I was hoping for In today s world of electronic relationship management, response time is one of the only ways we can communicate our sense of urgency and concern for our customers and their experience with our service. What is your Response goal within X hours? Set one and achieve it. You should know what your competition is doing and beat their goal. Want to really blow away a customer and cement your relationship? Pick up the phone and give them a personal call. Time with the Customer Are your customer-facing employees incentivized to keep calls short or to move too quickly from customer to customer? If so, you are sending the wrong message and subsequently affecting the quality of the customer interaction. There is a definite happy medium between the overly chatty service provider and the thorough and efficient provider. Set your benchmarks for call duration and general time with the customer in relation to the ultimate goal of first call resolution, NOT the other way around. In other words, a completely satisfied customer not requiring a follow-up call or visit is much preferred over a quick, unresolved interaction. Churn Cancellations and returns are the equivalent to churn. If you don t know how much business you are losing, you won t be able to understand how much new business you will require to stay out of the red. As important as knowing how much, understands Page 3
4 WHY you are losing customers. Take it to the next level and use follow-up surveys, phone calls, personalized how can we get you back s. This survey information is the real business insight for understanding your lost business. Service quality is usually defined as the customer s impression of the relative inferiority / superiority of a service provider and its services, and is often considered similar to the customer s overall attitude towards the company. Researchers have tried to conceptualize and measure service quality and explain its relation to the overall performance of companies and organizations. A common denominator of research on service quality is the conclusion that, because services are intangible, heterogeneous, and their production and consumption are usually inseparable, the process used by customers to evaluate service quality is exceptionally composite and cannot be easily identified. The insurance industry affects money, capital markets and the real sectors in an economy, making insurance facility necessary to ensure the completeness of a market. It is an industry with strategic importance for any country as it contributes to the financial sector (and hence the GDP) as well as confers social benefits on the society. At the micro-level, an insurance policy protects the buyer against financial loss arising from a specified set of risks at some cost. It thus reduces anxiety and promotes financial stability by providing a much needed social security. The role of life insurance is undergoing a phenomenal change today as is evident from the service bouquet and the product advertisements. The emphasis lies on insuring oneself and one's close family members for self-reliance high because of nuclear families are the emerging trend in Sri Lanka. To meet the varying needs of various individuals, the life insurance players have a variety of Life insurance plans and services in their Companies. Thus life insurance companies have to customize the services to improve the quality of service to suit the customer as per their needs. Page 4
5 The insurance industry forms an integral part of the Sri Lankan financial market, with insurance companies being significant institutional investors. In recent decades, the insurance sector, like other financial services, has grown in economic importance. This growth can be attributed to a number of factors including rising income and demand for insurance, rising insurance sector employment, and increasing financial intermediary services for policy holders. A sound national insurance market is an essential characteristic of economic growth. Therefore maximizing Policyholder s satisfaction is integral for any Life insurance company in-order to attract and retain profitable customers. Service quality is playing a vital role in life insurance companies to retain and attracting customers by satisfying their expectations. According to the current researches, when considering on overall customer satisfaction level towards service quality of life insurance industry in Sri Lanka it can be concluded that most customers have negative view on service quality and also most of the customers who experienced the service of the life insurance industry are not satisfied with their service due to the fact that the current practices of the life insurance industry are failed to fulfill the customer expectations up to the expected level. Therefore, all of the Insurance companies who are offering life insurance coverage and services for customers need to contemplate their customer expectations and review their current service standards and also their service procedures so as to accomplish accepted level of customer satisfaction. Article By: Anne Ineshka Janz Executive Life (Bsc.(Special) in Insurance and Valuation, PGDIP in Marketing,SLIM) Page 5
Customer Service Best Practices Survey Results
Customer Service Best Practices Survey Results Executive Summary During difficult economic times, most organizations shift their focus from acquiring new customers to retaining and growing existing customer
More informationHow much is poor customer service costing your business?
Customer Tipping Point Survey Results How much is poor customer service costing your business? Executive Summary As consumers, we have high expectations of companies we choose to give our business to.
More informationUNLEASH POTENTIAL THROUGH EFFECTIVE SERVICE QUALITY DETERMINANTS
UNLEASH POTENTIAL THROUGH EFFECTIVE SERVICE QUALITY DETERMINANTS Viruli de Silva ABSTRACT This article is based on a recent research conducted in the Sri Lankan banking sector and it discusses how the
More informationThe Age of the Customer: Focus on Retention
The Age of the Customer: Focus on Retention A 5% increase in customer retention can boost profitability 75%. Does your customer loyalty make the grade? CONTENTS Customer Lifecycle 101: Roadmap to Customer
More informationFOUR STEPS TO LEGENDARY CUSTOMER SERVICE
FOUR STEPS TO LEGENDARY CUSTOMER SERVICE THE GOAL OF A COMPANY IS TO HAVE CUSTOMER SERVICE THAT IS NOT JUST THE BEST, BUT LEGENDARY. SAM WALTON IN SURVEY AFTER SURVEY, AMERICAN BUSINESS LEADERS ACKNOWLEDGE
More informationAnswerNow Guides Why Live Service Matters!
Consider this: a 2% increase in customer retention has the same effect as cutting costs by 10%. That means that simply by keeping a small number of your customers from jumping ship, you can save money
More informationEmployee Surveys: Four Do s and Don ts. Alec Levenson
Employee Surveys: Four Do s and Don ts Alec Levenson Center for Effective Organizations University of Southern California 3415 S. Figueroa Street, DCC 200 Los Angeles, CA 90089 USA Phone: 1-213-740-9814
More informationMaximizing Customer Retention: A Blueprint for Successful Contact Centers
Maximizing Customer Retention: A Blueprint for Successful Contact Centers Sponsored by Table of Contents Executive Summary...1 Creating Loyal Customers: A Critical Company Goal...1 Causes of Customer Attrition...2
More informationMORE THAN SATISFACTION Customer Experience Management
MORE THAN SATISFACTION Customer Experience Management Winning new clients is much harder and more expensive than RETENTION of existing ones. Many companies are focused on measuring customer satisfaction
More informationThe New Physics of Customer Loyalty
The New Physics of Customer Loyalty Manage Customer Migration Based on the Loyalty Profile of Your Customer Base McKinsey Marketing Practice Overview Today s rapidly changing competitive arena has caused
More informationYour helpful life insurance guide: Buying a home
Your helpful life insurance guide: Buying a home 1 When it comes to buying a home, you may not realize that having life insurance is an important part of the process. Amica Life is here to help answer
More informationVodafone Red Paper Getting closer to your customers Issues Change Solution
Issues Change Solution How to get closer to your customers Communicating with customers on their terms Every channel available The Internet enables easier comparison of companies, particularly of price,
More informationProfitingfrom CustomerExperience:
ACLICKTOOLSWHITEPAPER Profitingfrom CustomerExperience: WhyAnEasyCustomerJourneyMakesEasyMoney ByDavidJackson, ClicktoolsCEO Page 2 Profiting from Customer Experience: Why An Easy Customer Journey Makes
More informationBeyond Net Promoter Scores
Beyond Net Promoter Scores Understanding Customer-Generated Word of Mouth A Shirman Group Client Brief The highly popular Net Promoter Score (NPS) customer satisfaction metric has gained broad adoption
More information6 Low Cost Customer Retention Activities You Should Be Doing
6 Low Cost Customer Retention Activities You Should Be Doing w w w. u n i v e r s a l f u n d i n g. c o m 1-800- 8 5 6-7 0 1 4 With so much recession-recovery advice out there, it is easy to get confused
More informationWhy Is It Important? Avaya defines customer experience. What Is Customer Experience and
What Is Customer Experience and Why Is It Important? By: Brett Shockley, Senior Vice President and Chief Technology Officer, Avaya Avaya defines customer experience management (CEM) as the discipline of
More informationThe Case for Improving the B2B Customer Experience
The Case for Improving the B2B Customer Experience How better customer experiences can help you drive profitable growth and create competitive advantage I preferred the Other Brand s product but I bought
More informationThe Simple Way to Measure Customer Experience. First Briefing Paper
The Simple Way to Measure Customer Experience First Briefing Paper 2014 1 The Simple Way to Measure Customer Experience 1.1 Measuring Customer Experience Customer experience ( CX ) is the sum of all the
More informationThe Future of the Customer Experience
The Future of the Customer Experience A Consona CRM White Paper By Tim Hines, VP Product Management Executive Overview In today s highly competitive business environment, companies must maximize the effect
More informationHow To Understand And Understand The Strengths Of Amica
Amica Insurance Marketing Strategy Amica has consistently been rated one of the top insurance companies in the United States. The power of the company and its financial strength is well represented in
More informationExecutive Summary. Overview
Jack Felton Golden Ruler Award Research Based Business Transformation: Benchmark and Tracking the Customer Experience Padilla Speer Beardsley and GfK for Rockwell Automation Executive Summary Listen. Think.
More informationGet Better Business Results
Get Better Business Results From the Four Stages of Your Customer Lifecycle Stage 1 Acquisition A white paper from Identify Unique Needs and Opportunities at Each Lifecycle Stage It s a given that having
More informationEnrollment in a similar plan
Automatic Plan Renewals If you bought a health plan through the Marketplace in 2014, you ll probably be automatically enrolled for 2015. If you don t take any action, your coverage will start January 1,
More informationCUSTOMER RELATIONSHIP MANAGEMENT OF SELECT LIFE INSURANCE COMPANIES
I n t e r n a t i o n a l J o u r n a l o f M a n a g e m e n t F o c u s 1 CUSTOMER RELATIONSHIP MANAGEMENT OF SELECT LIFE INSURANCE COMPANIES G. RAJU Asst. Professor of Business Administration, St. Thomas
More informationThe customer experience: have customers been forgotten?
The customer experience: have customers been forgotten? In the current economic climate, keeping customers happy ought to be at the top of every company s agenda. But many managers are simply too bogged
More informationReducing Customer Churn
Reducing Customer Churn A Love Story smarter customer contact Breaking up is hard to do The old adage that it s cheaper (and better) to hold onto an existing customer than to acquire a new one isn t just
More informationThe Case for Improving the B2B Customer Experience
The Case for Improving the B2B Customer Experience How better customer experiences can help you drive profitable growth and create competitive advantage I preferred the Other Brand s product but I bought
More informationChapter 1: Strategic Customer Relationship Management Today
Chapter 1: Strategic Customer Relationship Management Today Overview Topics discussed: From the marketing to the customer concept CRM and customer value The concept of CRM CRM from a business strategy
More informationMarketing and the 7Ps
Marketing and the 7Ps www.cim.co.uk/marketingresources The Chartered Institute of Marketing 2005 www.cim.co.uk/knowledgehub 1 ONE What is marketing? Marketing is the management process responsible for
More informationKea Influencer Relations and Marketing for High-Tech & Technology Providers
Kea Analyst Relations Industry analysts play a key role in defining markets and educating buyers. We work with clients to identify and track the most influential and relevant industry analysts, and advise
More informationAchieving customer loyalty with customer analytics
IBM Software Business Analytics Customer Analytics Achieving customer loyalty with customer analytics 2 Achieving customer loyalty with customer analytics Contents 2 Overview 3 Using satisfaction to drive
More informationthe big key criteria for a great SaaS company
Sometimes called cloud-based, web-based, or on-demand, Software as a Service ( SaaS ) is a way of delivering applications over the internet. Instead of installing software locally, you simply access it
More informationLeverage Your Customer Experience In Growing The Top Line Cheaply By John Goodman
PUB0001 Leverage Your Customer Experience In Growing The Top Line Cheaply By John Goodman American Management Association Fall 2012 You can t cost-cut your organization into sustainable prosperity a better
More informationMeasure the Value of Customer Experience Improvements
WHITE PAPER Measure the Value of Customer Experience Improvements Customer Experience Value Analysis connects customer initiatives to tangible financial impact. A TeleTech Company Table of Contents Key
More informationCustomer relationship management MB-104. By Mayank Kumar Pandey Assistant Professor at Noida Institute of Engineering and Technology
Customer relationship management MB-104 By Mayank Kumar Pandey Assistant Professor at Noida Institute of Engineering and Technology University Syllabus UNIT-1 Customer Relationship Management- Introduction
More informationGet Better Business Results
Get Better Business Results From the Four Stages of Your Customer Lifecycle Stage 2 Service A white paper from Identify Unique Needs and Opportunities at Each Lifecycle Stage Each stage in the customer
More informationMaking the Case for Service Recovery - Customer Retention
Making the Case for Service Recovery - Customer Retention Service Recovery is one of the key ingredient s to good service, leading to happy customers and we all know happy customers are very good for business,
More informationTake Online Lead Generation to the Next Level
Take Online Lead Generation to the Next Level 5 Ways to Capture New Market Niches By: Deven Pravin Shah WSI Internet Marketing Consultant Overview Many business owners ask the same questions about capturing
More informationTHE 2015 CUSTOMER EXPERIENCE ROI STUDY
THE 2015 CUSTOMER EXPERIENCE ROI STUDY Demonstrating the business value of a great customer experience Excellence leaves a lasting impression TM A MESSAGE FROM WATERMARK S F O U N D E R Six years ago,
More informationSuccessful Price Negotiation with Professional Supply Managers. The purchasing world is changing and sellers are being left behind.
Successful Price Negotiation with Professional Supply Managers The purchasing world is changing and sellers are being left behind. The Problem You have flawlessly executed your sales process at multiple
More informationFOSTERING CUSTOMER RETENTION CALLS FOR A FULL 360-DEGREE PERSPECTIVE
FOSTERING CUSTOMER RETENTION CALLS FOR A FULL 360-DEGREE PERSPECTIVE Satisfying and retaining current customers is three to 10 times cheaper than acquiring new customers, and 65 percent of a typical company
More informationThe Right Choice for Call Recording Call Recording for Customer Retention and Superior Service
Call Recording for Customer Retention and Superior Service An OAISYS White Paper Table of Contents Leveraging Superior Service in a Down Economy...1 Tracer: The Professional Interaction Management Solution...1
More informationbranding guide for tax pros
by Your Business Matters the branding guide for tax pros how to grow your tax business by building a powerful brand What s in this guide? What branding means Why branding matters in your tax practice How
More informationObjectives 3/27/12. Process Improvement: The Customer is Not the Problem. Rosa West PhD, MBA, LMHC, LMFT. Westcare Wellness & ConsulHng, LLC
Process Improvement: The is Not Process Improvement: The is not the Problem Rosa West PhD, MBA, LMHC, LMFT This product was supported by the Florida Department of Children & Families Substance Abuse and
More informationInsurance customer retention and growth
IBM Software Group White Paper Insurance Insurance customer retention and growth Leveraging business analytics to retain existing customers and cross-sell and up-sell insurance policies 2 Insurance customer
More informationAn introduction to marketing for the small business
An introduction to marketing for the small business Membership Services Moor Hall, Cookham Maidenhead Berkshire, SL6 9QH, UK Telephone: 01628 427500 www.cim.co.uk/marketingresources The Chartered Institute
More informationA Service of SRI World Group, Inc. 74 Cotton Mill Hill A-255 Brattleboro, VT 05301 (802) 251-0110
A Service of SRI World Group, Inc. 74 Cotton Mill Hill A-255 Brattleboro, VT 05301 (802) 251-0110 www.csrwire.com Printed on recycled paper Introduction Today, forward-thinking companies understand that
More informationSatisfaction with Contact Centers Drives Customer Loyalty
Satisfaction with Contact Centers Drives Customer Loyalty By Sheri Teodoru CFI Group Partner and CEO Across American industry, company contact centers have become critical channels for building customer
More informationCustomer Care for High Value Customers:
Customer Care for High Value Customers: Key Strategies Srinivasan S.T. and Krishnan K.C. Abstract Communication Service Providers (CSPs) have started investing in emerging technologies as a result of commoditization
More informationThe Financial Services Industry
The Financial Services Industry AN INTRODUCTION TO SOCIAL MEDIA The Challenge The Financial Services industry is one of the most established and complex around. Many of its key processes and systems have
More informationCHAPTER VII SUMMARY OF MAJOR FINDINGS AND RECOMMENDATIONS
CHAPTER VII SUMMARY OF MAJOR FINDINGS AND RECOMMENDATIONS 395 7.1 Findings Related to Secondary Data In the initial phase the analysis of secondary indicates that CRM is emerging as a strategic factor
More informationCustomer Engagement. The Rules Are Changing, But Customers Are Still In Charge
Customer Engagement The Rules Are Changing, But Customers Are Still In Charge WHITE PAPER Marketing Alternatives, Inc. 2550 Northwest Parkway Elgin, IL 60124 www.mktalt.com INTRODUCTION Goodbye customer
More informationThe Role of Feedback Management in Becoming Customer Centric
A Customer Centricity White Paper 5 Old Coach Road Hudson, NH 03051 603-491-7948 www.customercentricity.biz The Role of Feedback Management in Becoming Customer Centric By Stewart Nash QuestBack Boston
More informationReputation Management for Local Businesses: Protect Your Image
By: James Iannelli RI Reputation Management www.reputationmanagementri.com (401) 316-2931 1 Introduction As a business owner, you already know that managing a business is a LOT of work; from keeping the
More informationCUSTOMER EXPERIENCE MANAGEMENT THE MOST IMPORTANT DIMENSION OF THE SERVICE FIRM STRATEGY
CUSTOMER EXPERIENCE MANAGEMENT THE MOST IMPORTANT DIMENSION OF THE SERVICE FIRM STRATEGY Ra iu Monica Paula Romanian-American University, Faculty of Internal and International Tourism Economy, 1B, Expozi
More informationBest in Class Customer Retention
Take your business to the next level Best in Class Customer Retention A 5% Improvement Can Double Your Bottom Line Profits Free Sales and Marketing Audit Call 410-977-7355 Lead Scoring, Prioritization,
More informationYour helpful life insurance guide: Raising a family
Your helpful life insurance guide: Raising a family Being a parent is one of life s greatest joys. As your family grows, it s essential to have enough life insurance protection in place to help ensure
More informationREAL ESTATE FIRMS INVESTMENT FIRMS INSURANCE FIRMS CUSTOM DIGITAL MARKETING SOLUTIONS FOR ALL
REAL ESTATE FIRMS INVESTMENT FIRMS INSURANCE FIRMS CUSTOM DIGITAL MARKETING SOLUTIONS FOR ALL Targeted Email Newsletters Showcase your properties Target the right group of customers. Promotional emails
More informationAcquiring new customers is 6x- 7x more expensive than retaining existing customers
Automated Retention Marketing Enter ecommerce s new best friend. Retention Science offers a platform that leverages big data and machine learning algorithms to maximize customer lifetime value. We automatically
More informationThe following is intended to outline our general product direction. It is intended for information purposes only, and may not be incorporated into
The following is intended to outline our general product direction. It is intended for information purposes only, and may not be incorporated into any contract. It is not a commitment to deliver any material,
More informationOn Customer Experience
2013 On Customer Experience Benefits. Best Practices. Truths. > Global Speaker > Practicing Customer Experience Designer > Consultant On Customer Experience There s certainly nothing new about focusing
More informationTraditional Market Research and Big Data Integration
Traditional Market Research and Big Data Integration Unlocking the Secrets to Why Customers Act the Way That They Do Greg Mishkin Vice President, Research and Consulting Market Strategies International
More informationManaging Customer Retention
Customer Relationship Management - Managing Customer Retention CRM Seminar SS 04 Professor: Assistent: Handed in by: Dr. Andreas Meier Andreea Iona Eric Fehlmann Av. Général-Guisan 46 1700 Fribourg eric.fehlmann@unifr.ch
More informationManaging Effective Brand Relationships. friend is someone you can rely on, truly enjoy being around, and depend on even when
Kristin Dziadul MK 440- Marketing Seminar Professor McKeon Marketing Theory Managing Effective Brand Relationships Think back to one of your first true friendships and what that meant to you. A true friend
More informationYour Complete Guide to Building vs Outsourcing Your Company s Service Desk
Your Complete Guide to Building vs Outsourcing Your Company s Service Desk Over the past few decades, organizations have made unparalleled strides toward improving customer experiences through a combination
More informationMarketing Plan Development 101: The Importance of Developing a Marketing Plan for Public Transit Agencies & Commuter Assistance Programs
Marketing Plan Development 101: The Importance of Developing a Marketing Plan for Public Transit Agencies & Commuter Assistance Programs Mark Glein, PhD, Marketing Florida State University Marketing Plan
More informationCustomer Experience: Essential Requirements for Company Profitability and Competitive Success
Customer Experience: Essential Requirements for Company Profitability and Competitive Success By Dr. Natalie Petouhoff TABLE OF CONTENTS Executive Summary...1 Economic Imperative of Focusing on the Customer
More informationHow to Improve Customer Loyalty in Small Business
Achieve Customer Loyalty with Hosted CRM Software Salesboom.com Customer satisfaction is important to any small business and is shown through clients repeatedly coming back to you due to your service.
More informationTarget and Acquire the Multichannel Insurance Consumer
Neustar Insights Whitepaper Target and Acquire the Multichannel Insurance Consumer Increase Conversion by Applying Real-Time Data Across Channels Contents Executive Summary 2 Are You Losing Hot Leads?
More informationABHINAV NATIONAL MONTHLY REFEREED JOURNAL OF REASEARCH IN COMMERCE & MANAGEMENT www.abhinavjournal.com
e-crm OPPORTUNITIES AND CHALLENGES IN DIGITAL WORLD Dr. T. N. Murty 1, N D Chandra Sekhar 2 and S Vidya Sagar 3 1 Professor & Director, Nimra College of Business Management, Vijayawada, India Email: thamminaina@yahoo.com
More informationFinding the Best Merchant Service Program in Prince George
Finding the Best Merchant Service Program in Prince George Getting paid for your products or services is critical to your success in business. You want to make as much profit as possible so you DO NOT
More informationFINAL THESIS REPORT. Adding value to the customer through customer relationship management Case: Ruukki. Anna Nisula
T AMPEREEN AMMATTIKORKEAKOULU U NIVERSITY OF A PPLIED S CIENCES B USINESS S CHOOL FINAL THESIS REPORT Adding value to the customer through customer relationship management Case: Ruukki Anna Nisula Degree
More informationBricks And Clicks A Look At Today s Retail Marketing Trends
Bricks And Clicks A Look At Today s Retail Marketing Trends A Quick and Easy Guide to Digital Advertising for Local Businesses TABLE OF CONTENTS 3 4 7 11 The New Customer Path to Purchase The Rise of Mobile
More informationHow to Choose a Social Media Monitoring and Review Analytics Tool. Make sure the greatest possible range of data is indexed
How to Choose a Social Media Monitoring and Review Analytics Tool by Josiah Mackenzie, ReviewPro Over the past year, a lot has changed in the hotel reputation management industry. And these changes require
More informationMeasuring the strategic value of Customer Data Integration
An Experian white paper August 2008 The economics There is little doubt that customer-centricity has become a strategic battlefront in business. This momentum continues to grow as the timescales from innovation
More informationThe Trustee. There are four alternatives trustees that can be utilized in establishing a trust:
The Trustee The following is a discussion of the use and type of various trustees. It covers many significant topics that a trustor (the one establishing the trust) should consider, but it is imperative
More information7 Good Reasons to Implement a Formal Win/Loss Analysis Approach
7 Good Reasons to Implement a Formal Win/Loss Analysis Approach By Jen Berkley Jackson The Insight Advantage 7 Good Reasons to Implement a Formal Win/Loss Analysis Approach Published by: Jen Berkley Jackson
More informationLife Insurance and Credit Union Members
Life Insurance and Credit Union Members Insights for Credit Unions to Help Their Members Understand Life Insurance and Select the Right Product Brian Gerdes Senior Product Manager, Whole Life CUNA Mutual
More informationA Quick Guide to Social Customer Service: Measure, Refine & Scale
A Quick Guide to Social Customer Service: Measure, Refine & Scale Measuring how well your Social Customer Service program is working for both your customers and your business is not easy. For the last
More information5 FATAL MANAGEMENT COMPANY DEFICIENCIES THAT DESTROY CASH FLOW
5 FATAL MANAGEMENT COMPANY DEFICIENCIES THAT DESTROY CASH FLOW Most people believe that they do a good job at what they do, however the people that typically do the best jobs recognize that there is always
More informationFive Best Practice Strategies for Maintaining Excellence in Workers Compensation Self-Insured Groups
Five Best Practice Strategies for Maintaining Excellence in Workers Compensation Self-Insured Groups Safety National is the market leader for providing excess workers compensation coverage for self-insured
More informationLife Insurance Buyer's Guide Prepared by the National Association of Insurance Commissioners
Life Insurance Buyer's Guide Prepared by the National Association of Insurance Commissioners Buying Life Insurance How much do you need? What is the Right Kind? Finding a Low Cost Policy Things to Remember
More informationOnline Presence: What SMBs Want
Online Presence: What SMBs Want How to successfully provide digital offerings to your SMB customers April 2015 An ebook by Contents Introduction...3 5 Facts about what SMBs want from online presence...4
More informationMULTICHANNEL MARKETING
REPORT Report Multichannel Marketing MULTICHANNEL MARKETING A Study Highlighting Current Approaches and Investment, Opportunities and Key Challenges 1 2 Introduction 4 Key findings 6 Conclusion 19 3 INTRODUCTION
More informationBusiness Value Drivers
Business Value Drivers by Kurt Havnaer, CFA, Business Analyst white paper A Series of Reports on Quality Growth Investing jenseninvestment.com Price is what you pay, value is what you get. 1 Introduction
More informationDear Friend: I have a very important question to ask you
Avoid the 7 Deadly Sins of Term Life Insurance What the Insurance Companies Don t Want You to Know Dear Friend: I have a very important question to ask you Do You Know What to Look For When Selecting a
More informationMaximize Social Media Effectiveness with Data Science. An Insurance Industry White Paper from Saama Technologies, Inc.
Maximize Social Media Effectiveness with Data Science An Insurance Industry White Paper from Saama Technologies, Inc. February 2014 Table of Contents Executive Summary 1 Social Media for Insurance 2 Effective
More informationAttention Agents: How to Generate Leads and Make More Money
1 Attention Agents: How to Generate Leads and Make More Money Copyright No part of this consumer report may be reproduced or transmitted in any form without the written permission of the author. This electronic
More informationOpportunities for Action
Winning by Understanding the Full Customer Experience The old adage What gets measured gets done is fine as far as it goes. But what if what you re measuring doesn t provide the full picture? That is often
More informationNew Channels Create New Growth Opportunities for Insurers. North American Insurance Distribution Survey Findings
New Channels Create New Growth Opportunities for Insurers North American Insurance Distribution Survey Findings Introduction After a period marked by disruption of the financial systems and heightened
More informationCreating an Awesome Customer Experience
Creating an Awesome Customer Experience The need to provide a great customer experience. To have profitable customers who stay with you a long time, your goal must be to create the kind of experience that
More informationWin win or lose. The ability to build sustaining partnerships is vital in the digital world
Win win or lose The ability to build sustaining partnerships is vital in the digital world The business model of the communications industry is of a single provider owning and controlling all of the assets
More informationThe Executive s CXM Strategy Guide
The Executive s CXM Strategy Guide Cut through the CXM noise Customer Experience Management (CXM) is a strategy and practice for delivering online and offline customer experiences to acquire and retain
More informationHow To Get A Quote For Insurance Online For Free
.com White Paper 02: The Case for Upfront Price Quotes- The New World Order in On-Line Insurance Sales By Brian A. Hannigan, Co-Founder RateElert, LLC Executive Summary :::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::
More informationWHITE PAPER. SPEECH ANALYTICS for Predicting Customer Churn. Uniphore Software Systems Contact: info@uniphore.com Website: www.uniphore.
WHITE PAPER SPEECH ANALYTICS for Predicting Customer Churn Uniphore Software Systems Contact: info@uniphore.com Website: www.uniphore.com 1 Table of Contents Introduction... 3 Problems... 3 Solution...
More informationWRS CLIENT CASE STUDIES
WRS Billing Services are great: the fees are low, I can track everything on the computer, and it s all very easy for me to look at. Emily Gordon, M.D. Vital Signs Medical Associates Middletown, NY Vital
More informationThe Top 9 Ways to Increase Your Customer Loyalty
Follow these and enjoy an immediate lift in the loyalty of your customers By Kyle LaMalfa Loyalty Expert and Allegiance Best Practices Manager What is the Key to Business Success? Every company executive
More informationLoyalty to service provision: creating loyalty through the customer experience
Loyalty to service provision: creating loyalty through the customer experience WWW.SBS.OXFORD.EDU EDUCATING LEADERS FOR 800 YEARS Dr Richard Cuthbertson Research Director Oxford Institute of Retail Management
More informationSocial Media Marketing for Local Businesses
Social Media Marketing for Local Businesses The average number of hours a U.S. consumer spends on social media per week. - PQ Media, 2013 Social is the Norm A lot has changed in the 10 years since Facebook
More informationEffectively Managing your Customers Experiences through Enterprise Feedback Management
breakfast habits change as they grow older. Take hot cereal as an example, there is a clear relationship between age and consumption incidence: 15-24 years old: 37% 25-34 years old: 45% 35-49 years old:
More information