Insurance companies are great at acquisition but bad at retention. Jack Morton offers our unique POV and 5 ways insurance brands can keep more customers.
The 2013 Deloitte Undergraduate Case Competition challenged students to develop strategy, technology, and human capital recommendations for MAD HATS, a company that donates a hat to a person in need for each hat purchased by one of their customers.
This is the first session (Sep 4) of our Free Open Advanced Branding Masterclass at www.mootee.typepad.com. Pls rememebr no books are needed. We will forward additional reading material for all registered participants.
Life Insurance industry has been witnessing low persistency (a policy's ability to be active and sustained premium payment)rate hence the proactive need for customer retention and maximizing renewal premium collection and need for monitoring the performance of intermediaries and agents could gain immense value from deriving highly usable recommendations.
The need for such inferences, importantly in a timely basis can't be more important than now as the rightful and the revised guidelines by the regulator ensures the need to minimize wrong selling, increased persistency and performance of all the stakeholders in Life Insurance to make business a flourishing one.
How did the evolving need of the industry coupled with constant change in market and competitive landscape was married and focused approaches were espoused through with tangible benefits on Customer Value Retention and Maximization & agent's performance improvement were met.
What are the recommendations from Sameer to individuals & enterprises who intend to devise their Analytical Vision for their respective organization, what are the areas to be considered before embarking such a journey
.
The 2013 Deloitte Undergraduate Case Competition challenged students to develop strategy, technology, and human capital recommendations for MAD HATS, a company that donates a hat to a person in need for each hat purchased by one of their customers.
This is the first session (Sep 4) of our Free Open Advanced Branding Masterclass at www.mootee.typepad.com. Pls rememebr no books are needed. We will forward additional reading material for all registered participants.
Life Insurance industry has been witnessing low persistency (a policy's ability to be active and sustained premium payment)rate hence the proactive need for customer retention and maximizing renewal premium collection and need for monitoring the performance of intermediaries and agents could gain immense value from deriving highly usable recommendations.
The need for such inferences, importantly in a timely basis can't be more important than now as the rightful and the revised guidelines by the regulator ensures the need to minimize wrong selling, increased persistency and performance of all the stakeholders in Life Insurance to make business a flourishing one.
How did the evolving need of the industry coupled with constant change in market and competitive landscape was married and focused approaches were espoused through with tangible benefits on Customer Value Retention and Maximization & agent's performance improvement were met.
What are the recommendations from Sameer to individuals & enterprises who intend to devise their Analytical Vision for their respective organization, what are the areas to be considered before embarking such a journey
.
Super shampoo products and the indian mass market case studyMustahid Ali
Super shampoo products and the indian mass market case study, their evolution, marketing strategy adopted by them, their up and downs , how they became successful, their swot analysis and how they overcome to worst situation.
Millward Brown Egypt - Meaningfully Different BrandsKantar
We look at the challenges to conducting research in Egypt and how to overcome the barriers to capturing quality data by going mobile. Charles and Praveen discuss the findings of a local study on handsets and share brand equity findings that puts Millward Brown Egypt at the forefront of innovation in market research.
Charles Foster, Managing Director, Millward Brown Africa & Middle East & Praveen Abraham, Country Manager Egypt, Millward Brown
Super shampoo products and the indian mass market case studyMustahid Ali
Super shampoo products and the indian mass market case study, their evolution, marketing strategy adopted by them, their up and downs , how they became successful, their swot analysis and how they overcome to worst situation.
Millward Brown Egypt - Meaningfully Different BrandsKantar
We look at the challenges to conducting research in Egypt and how to overcome the barriers to capturing quality data by going mobile. Charles and Praveen discuss the findings of a local study on handsets and share brand equity findings that puts Millward Brown Egypt at the forefront of innovation in market research.
Charles Foster, Managing Director, Millward Brown Africa & Middle East & Praveen Abraham, Country Manager Egypt, Millward Brown
Hanging on: A new look at commercial insurance customer retentionAccenture Insurance
Core market strategies around consistent underwriting risk appetite and pricing are critical drivers of high customer retention. But in themselves they are not sufficient to achieve strong retention. Instead, carriers need to define and execute a dedicated strategy that includes four distinct areas: distribution management, customer stickiness, the renewal experience and M&A responses.
Check out this presentation from Qubit's Predict Analytics Webinar where you will learn how to use predictive analytics to solve for customer retention. Learn what predictive analytics is, and how you can utilize the data you already collect about your visitors to predict intent, and optimize the experience. Essential is being able to identify the risk factor of different users and personalize their experience to make them stay.
The Future of Mobility: How We Connect to Our Cars by MRYDavid Berkowitz
MRY released new research in 2014 featuring first-party surveys and social listening to determine what people want out of connected cars, how their decision journey works when purchasing them, and how people value cars versus their smartphones.
The 7 Causes Customer Churn and How to Prevent ItOpsPanda
Customer churn is problematic for most every company. Even if your churn rate is below 1% each month it's still taking a very significant chunk out of your revenues. Customer success teams can use this presentation to get their arms around what causes churn and what they can do to prevent it.
From customer on-boarding to customer marketing, from overselling to customer service there are many customer touch-points that can trigger the experience and emotions that lead to churn. Use this presentation to develop a strategy that segments the customer lifecycle and the typical causes of churn. Then consider the recommended tactics that can help you drive down your customer churn rate.
Whether for-profit or nonprofit, customer retention strategies are the same. Here are seven strategies to retain your customers that you should consider.
DESIGN THE PRIORITY, PERFORMANCE AND UXPeter Rozek
Page speed is increasingly important for websites. Performance is User Experience and not only a Development Issue. Performance is a process and starts in conception and design.
Research makes it clear, the generation of children in our ministries today is vastly different than any other group of children the Church has ever sought to reach. They engage and edit media, experiment with culture, and experience community in new ways. Discover the unique learning charac- teristics of today’s kid and learn to leverage those characteristics in your ministry.
Customer Satisfaction VS. Customer RetentionAhmad Heshmat
it explains the difference between retention and satisfaction, and typed of loyal customers, and also discuss reasons behind churn, specially for telecom industry. (if you want to download,it is open now :)
Customer Retention: Why Your Dog Would Make More Money Than YouChris Hexton
Customer Retention is extremely important for any online business, though is often overlook. Learn how to increase your customer retention rate (and reduce churn) with these tips and tricks.
Presentation given at the Academia Cotopaxi, Quito Ecuador.
Interested in working with Silvia Rosenthal Tolisano? Contact Silvia via http://www.globallyconnectedlearning.com
Presentation with audio commentary on trends that are affecting brands and brand strategy. Marketing and brand thinking from Justin Basini (www.basini.com) and Tom Farrand (www.pipelineideas.com). First presented at the Financial Services Forum, October 2009.
Brand equity is the added or subtracted value given to a current or potential product or service, influenced by the brand. It is “the differential effect of brand knowledge on consumer response to the marketing of the brand” (Keller, 1993).
Consumers have a perception and desire that a brand will meet their promise of benefits. The higher the perception of value, the higher the premium customers are willing to pay.
An elevated level of positive brand equity requires cooperation between the tangible and intangible aspects of a product or service. The intangible aspects come from a customer’s subjective experiences with a brand, the brand’s uniqueness and personality and ability to stay relevant and build a relationship with loyal customers.
Companies can create brand equity by making products and services memorable, easily recognisable, and superior in quality and reliability.
Marketing is a major driver of brand equity through differentiating products from competing brands. Marketing builds strong brand equity through influencing the brand associations held in a consumer’s mind.
Enhance the strength of your brand by investing in advertising and resist often discounting products. Create a personality for your brand expressed through your marketing mix. The connection a consumer feels with your brand’s personality can define your relationship with customers.
Brand loyalty management is important given the enormous investments and impact on the bottom line taking into account the fact that generating new brand users costs 6-10 more than keeping existing brand users. In contexts where brands need to be supported heavily by employees / people (service, B2B, ...), big negative impact of employee turnover on customer brand loyalty. Short-term oriented vision hampers development of customer brand loyalty (e.g. focus on sales figures of current quarter).
What the hotel industry can teach insurance companies about creating brand loyalty.
For more white papers and webinars, go to http://www.sldesignlounge.com
Or visit us at http://www.sld.com
How to Audit Your Loyalty Marketing StrategiesSallie Burnett
Consumers have so many choices in the world and generally edit their possibilities and maintain their own manageable menu of brands they trust. These brands are said to be in the “inner circle”. The inner circle is like your favorites or bookmark list on your computer. In our age of information and global competition, companies are looking to loyalty programs to put themselves in the customer’s inner circle.
So how can you strengthen the customer’s connection with the brand and putt you in the customers inner circle of favorite brands? Find out in this new complimentary white paper by Customer Insight Group, Inc.
This document was developed by Corporate Excellence – Centre for Reputation Leadership and among other sources contains references to the
book Brand Premium by Nigel Hollis, VP and Chief Global Analyst at Millward Brown. The book was published by Palgrave in 2013.
NRF is the world’s largest retail conference with over 38,000 attendees. It’s also a show where some of the largest players in the B2B space come together and show the world what is on the horizon for retail tech.
This year, Jay Menashe, Director of Business Development, looked for the exhibit elements and experiences that stood out most to him. Check out what he thought!
Jack Morton's very own, Jay Menashe (Gold level Certified Trade Show Marketer), shares his favorite moments from CES 2019.
Read more: http://www.jackmorton.com/blog/my-10-favorite-moments-from-ces/
What’s missing from your experience tech strategy?
The relationship between events and technology is a subject of much debate and experimentation; clients are asking for the latest technology and our industry has a rich heritage when it comes to harnessing new and innovative technologies to create ever more impressive, immersive and interactive experiences.
But we risk using it for its own sake, forgetting that it is great ideas – not great technologies – that engage audiences and deliver effective results for brands. So technology can be a great enabler, but it can’t create a great experience on its own.
For most content marketers, sourcing or creating content is their biggest challenge. In our industry, however, we have always been creating killer content. It’s just that we often haven’t had a strategy to share it or to target it as a marketing tool.
Brands are made for and by humans. Their greatest wish is to connect with humans. So why do they find it so difficult? From jarringly chirpy digital, social & mobile experiences to misguided content marketing efforts, brands’ (and, let’s face it, agencies’) attempts to ‘be more human' often make us cringe.
And now, algorithms and big data means brands know more about us than ever before, and with this their opportunities to ‘act human’ have multiplied exponentially. But in many cases, their brand building efforts are failing: either to be convincing or in adopting the right aspects of humanity. And in so doing they become clingy, nosey or just plain creepy.
So brands face a paradox: the more they try to be human, the more they risk alienating the humans they so want to connect with. So can brands be ‘more human’? Or more importantly…should brands be more human?
How pharma and healthcare brands can engage consumers in order to drive growthJack Morton Worldwide
At Cannes Lions Health this year, Ryan Quigley of AbbVie and Jack’s Chief Creative Officer, Bruce Henderson, presented our vision for the future of healthcare brands. It’s not enough for pharmaceutical companies, health insurance companies, and other organizations dedicated to healthcare to merely provide medical or financial solutions. Rather--through content marketing, digital, social & mobile engagement and more--brands must re-connect with people’s needs and revolutionize their healthcare experience. It’s a level of empowerment that could only come from a superhero.
Big data has given marketers an unprecedented view into the attitudes and behaviors of larger audiences than ever before. But as we become increasingly reliant on big-data analytics, we’re also basing our insights on the same data pool—and arriving at very similar ideas. It’s a race to the middle that can dilute brand perceptions and value.
For brands to stand out, big data isn’t enough. That’s where small data comes in.
In our latest white paper, we show how using small data—the tiny clues that can uncover consumers’ drivers and desires—can uncover consumer insights that can't be found through big data alone.
Read the white paper, and find out how small data can lead to breakthrough ideas that transform brands and brand experience.
Employee engagement meetings are powerful experiences.
Done well, corporate meetings can have a transformative effect on an organization, unifying employees and elevating the company’s goals and objectives.
However, meetings that don’t live up to their potential can be damaging, with a negative effect on morale, a failure to deliver key messages, and provide little in the way of ROI.
At Jack Morton, we’ve been elevating corporate meetings and engagements for over 75 years, and we’re sharing our thoughts on four principles that are proven to deliver extraordinary results for our clients.
Read our POV, and make your meetings extraordinary.
Jack Morton's Tim Leighton presented with Cecilia Dahlstrom from Ericsson at the eurobest Festival of Creativity 2015.
How do you challenge and break the way something has always been done?
As an industry, we have to evolve our methods of engagement to survive. A little more conversation and a lot less one-way show and tell.
Yet much of our creative still isn’t focused in this way. In fact, some of our brand engagements are strangely inhuman, inhospitable experiences whereby brands compete not to understand people and offer value, but to simply shout the loudest. One of the worst offenders has to be the trade show. It’s a rare opportunity to waste – it’s where game-changing conversations can happen and multi-million dollar deals can be sealed.
Join our session to find out how Ericsson embraced the trade show, tore up the rule book and created a thoroughly modern brand experience that sits at the centre of its marketing strategy. Hear how its innovative creative approach radically changed the way people connect in this environment and learn what we can take away from this when we approach engaging with people through any channel.
Dr. Paul Frost, a Digital Strategist in our London office, presented at Event Tech Live this year. His presentation is titled "Creating effective digital ecosystems: Amplifying audience footprints through end to end digital enablement."
Best practices for creating a brand experience strategy, presented by one of our Senior Creative Directors, Karen Chui, at the marketing conference Spikes Asia.
From the moment we’re born, our senses make up the fabric of our experiences. They’re entwined with our emotions, anchored in our memories, and according to new research that’s challenging the tenets of Western philosophy, our experience in the physical world has an unconscious effect on how we think, feel and behave.
It’s no surprise then our senses have the power to shape our perception of brands, affecting how intuitively we connect with them, and how credible we perceive their messages to be, whether it’s at a single touchpoint or across the entire customer journey. What is surprising is that many brands quite literally take leave of their senses – and the resulting disconnect between what a brand says and how it feels can leave a bad taste in our mouths.
This eclectic, illuminating and interactive talk weaves together key strands of scientific research, from synesthesia to sensory metaphors, to reveal the three critical drivers of multisensory brand experience – and how you can harness them to create a more impactful, holistic experience that will ultimately change the way people feel – and behave – in relation to brands.
How pharma and healthcare brands can improve their customer experienceJack Morton Worldwide
The SVP and Managing Director of Jack’s Chicago office, Matt Pensinger, presented at Lions Health 2015 with Katie Bang from Eli Lilly and Company about improving the customer experience for patients:
There is growing recognition amongst healthcare brands that understanding the full patient journey is essential for success in today’s healthcare environment. The sheer extent of this both physical and emotional journey, from awareness through to treatment and adherence, opens the patient to many potential experience gaps between their expectations and reality that can lead to frustration, disillusionment and even dropping the prescribed treatment.
So, healthcare companies must understand this journey if they are to improve the customer experience – and offer necessary patient support that extends far beyond a given medication. Being truly effective requires that the entire organisation (from science through to sales) understands the patient journey in order to meet patient needs and effectively engage the many stakeholders that are becoming increasingly important to a therapy’s success.
This is a significant undertaking and healthcare brands and their marketing agencies need to think differently about how they engage with patients and support communications for all the other stakeholders. This talk will examine the experience journey and what it means for the way we market.
Don’t get us wrong—we're not saying that editorial calendars are all bad.
But using one poorly can lead to obscure social media posts, videos and white papers that do nothing to achieve your business goals, and other time- and budget-wasters that have little to no real ROI.
89% of content marketers are focused on creating more engaging, higher quality content now or within the next 12 months. If you’re one of them, maybe it’s time to ditch the calendar (or at least use it better).
Our latest Jack POV, Why editorial calendars make your content suck, was presented by our VP, Strategy Director, Ben Grossman at this year’s SXSW Interactive, and we’re making the insights from Austin available to you.
This 2015 Mobile World Congress showcased the latest innovations in mobile technology, bringing together the leaders and pioneers of the mobile industry, consumer brands, and the growing amount of businesses touched by the mobile market.
Out of over 2,100 companies flaunting their newest and best, only a handful of exhibitors really stuck out for their ability to cut through the noise noise and connect with their audience.
We've taken a look at these standout exhibitors and examined what made them so memorable. Read our POV, and learn the 4 ways to win at the tradeshow that will connect people with your products and services and build your business.
From gold lamé to vin rosé, Cannes is a special place indeed.
It’s home to the world’s largest and most revered awards festival for the best creative work in Film, Creative Effectiveness, and more.
The week’s content includes seminars, forums and workshops presented by creative leadership from around the world — both from inside and outside the marketing industry.
We learned of brand experience examples such as the Google Creative Sandbox and the Ipsos Ladies Lounge provided insight and inspiration in a relaxed environment.
Oh — and of course — there was legendary partying in true industry style.
More and more, brands are realizing the power of integrating tactics like events and digital campaigns into a larger effort to build the long-term relationships with their customers that help them reach their overall marketing goals.
However, budget, influenced by emotion, is all too often the primary factor in deciding how and when to employ these valuable marketing assets.
Enter portfolio planning: a strategic approach that allows companies to make informed decisions on the right number, type, frequency, and cadence of tactics needed to generate an optimal experiential marketing mix. In essence, “brand experience media planning”.
In the latest Jack POV, learn the 6 principles of portfolio planning and how you can incorporate a strategic approach to better engage your customers.
As always, let me know if you’d like to learn more about how brand experience media planning can help your business.
Find out more at jackmorton.com.
Consumer Electronics Show (CES) 2015 marketing trends for brands and marketersJack Morton Worldwide
A fresh, no gadget take on the 2015 International CES, this report covers the top trends marketers and brands need to know as they enter 2015. Based on the evolution of the CES show over the last several years, the report also documents the rising in notoriety and popularity of CES within the marketing and advertising industry, now rivaling events like the Cannes Lions International Festival of Creativity and SXSW Interactive.
After 48 years in existence, the event shows no signs of slowing down. 2015 marked the largest CES in history, with over 170,000 industry professionals in attendance and more than 2.2 million net square feet of exhibit space occupied by exhibitors. Today, the show sits comfortably at, as the Consumer Electronics Association (CEA) has dubbed it, “the center of convergence among content, services and products.”
Your colleagues and employees are already armed with smartphones and tablets—but how can these devices be transformed into productivity powerhouses tailored specifically to your business and sales needs?
In our latest white paper, apps@work, discover how adding apps to your company’s arsenal can increase productivity, creativity and credibility, and learn how apps can boost employee engagement with tools they can use wherever they are.
Growing your business requires investment—but with so many competing priorities, where should you focus your time, money and expertise?
Start with a resource you already have that can drive both profitability and customer satisfaction: your employees.
Studies have proven that companies with engaged employees had 2.6 times the earning per share growth of companies with below average employee engagement and 86% higher success rates on customer metrics.
In our latest white paper, learn the four key requirements of effective employee engagement and how treating your employees like customers can improve your business.
Our senses fuel our perceptions of the objects and events that surround us. Yet as marketers we're often limited to just two of them—sight and sound.
How much more compelling could brand experiences be if we used the science of perception to design better, more persuasive interactions—taking into account all of our senses?
In our latest white paper, we explain how an experiential approach harnesses the science of the senses to create more effective, more engaging experiences that amplify your message and brand.
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
1. WHY INSURANCE COMPANIES ARE GREAT
AT ACQUISITION BUT BAD AT RETENTION,
AND 5 WAYS INSURANCE BRANDS CAN
KEEP MORE CUSTOMERS.
THE BREAK UP
2. CUSTOMERS ARE BREAKING UP WITH
THEIR INSURANCE PROVIDER.
INTRODUCTION Hanah Holpe
Creative Strategist at Jack Morton Chicago
Hanah Holpe
Once upon a time… insurance was sold exclusively by Agents – primarily
relying on building relationships and generating word-of-mouth to drive
business.
But today, customers have stopped caring about relationships because many
insurance companies have stopped focusing on them. Outside of receiving a
bill or filing a claim, a policyholder has only infrequent contact with his or her
insurance carrier. And that contact isn’t typically by choice—driven by a need
to file a claim or update coverage. Consumers have been choosing providers
by convenience, or even price.
The reality is that it’s a whole new insurance
ballgame, requiring a whole new approach.
The following pages highlight some top-level findings and focus on five ways Jack
Morton can improve your customer experience. We’d love to hear what you think.
THE BREAK UP: 5 WAYS INSURANCE BRANDS CAN RETAIN MORE CUSTOMERS
2
3. CONSUMERS
VALUE EXPERIENCE.
In a recent study we conducted, we discovered that1…
80%
Agree (60% strongly)
87%
Agree that previous
78%
Agree (44% strongly) that
that overall experience experience is they’d pay more for a
is the #1 factor when important (62% very product or service if they
deciding to purchase a important) when choosing knew they’d have a unique
product or service. brands to use in the future experience with that brand
However, we found an interesting gap…
Only
26% believe that the experiences they’ve actually had
with brands have been extremely or very unique
THE BREAK UP: 5 WAYS INSURANCE BRANDS CAN RETAIN MORE CUSTOMERS
3
4. AND THERE ARE
HIGH EXPECTATIONS
FOR THE WAY AN 66%
INSURANCE BRAND of recent auto insurance
buyers said “strong
ENGAGES. customer advocacy”
makes a big difference
when choosing an
Sure, price is a key factor when shopping for insurance, but insurance brand.3
it isn’t the only thing that matters. In fact, 10% of recent auto
64%
insurance shoppers didn’t select the lowest priced quote.2
It’s really about the
experience above all else. of recent auto insurance
buyers said it’s important
for a brand to be known
Research shows that strong customer advocacy and for “superior customer
superior customer service are rated the top two things service.”3
customers look for in insurance providers.
THE BREAK UP: 5 WAYS INSURANCE BRANDS CAN RETAIN MORE CUSTOMERS
4
5. YET, THE PRICE
TUG-OF-WAR IS
COMMONPLACE.
Customers are armed with an increasing number of price-comparison shopping tools.
And brands are playing along with the price war with constant “switch and save”
messaging. But really, how low can insurance companies go?
In addition, switching rates have sharply increased – doubling from 2005 to
2011, rising sharply since 2008.4
THE BREAK UP: 5 WAYS INSURANCE BRANDS CAN RETAIN MORE CUSTOMERS
5
6. AND THE SPLASHY
AD CAMPAIGNS ARE
PERVASIVE.
Do-it-yourself, rate-shopping companies and traditional insurance
companies are all campaigning to be the loudest –
investing a lot of money on mass advertising (4.15 billion in 2009
– more than double what the industry spent in 2000), and even
on multiple campaigns at once.5
It’s a competition to be the loudest, most convincing, or cheapest.
Sure, the messaging is attention grabbing and they’re getting
creative on storytelling, but they’re doing very little to
deliver on that investment. Ultimately, they’re losing,
rather than retaining, the customers acquired.
THE BREAK UP: 5 WAYS INSURANCE BRANDS CAN RETAIN MORE CUSTOMERS
6
8. EXPERIENCE BRANDS
CREATE DEEPER, STRONGER
RELATIONSHIPS THROUGH
ENGAGEMENT.
Many brands are wising up. They recognize the power of experiences can inspire
people and drive business growth. They’re investing in unique engagements and
maximizing every touchpoint where they interact with key audiences.
We call these brands “experience brands.”
However, too many insurance
brands are still missing the mark.
They fall short at exactly those moments when a brand can build a
relationship with its most important people.
THE BREAK UP: 5 WAYS INSURANCE BRANDS CAN RETAIN MORE CUSTOMERS
8
9. TO BE AN EXPERIENCE BRAND,
INSURANCE BRANDS SHOULD…
1. AVOID THE PRICE WAR AND FOCUS ON
HOLISTIC VALUE
2. TRANSFORM THEIR EMPLOYEES AND
CUSTOMERS INTO BRAND ADVOCATES
3. CREATE CROSS-CHANNEL CONSISTENCY FOR
A SINGULAR COHESIVE EXPERIENCE
4. DELIVER SUPERIOR CUSTOMER SERVICE BY
ENHANCING OWNED MEDIA
5. BUILD LOCAL RELATIONSHIPS TO GENERATE
QUALITY REFERRALS
THE BREAK UP: 5 WAYS INSURANCE BRANDS CAN RETAIN MORE CUSTOMERS
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10. 1. AVOID THE PRICE WAR AND
FOCUS ON HOLISTIC VALUE
Price matters to shoppers and customers
alike. But what matters most is the return on
experience (ROE) brands provide.
D
EX
Make it your goal to redefine what value
AN
YO IEN
PE
means to your brand – not just customers’
BR
R
pockets – by championing the unique offering
UR CES
UR
(beyond your products) you provide to UNIQUE
YO
customers. VALUE
Every interaction your brand has with
customers and shoppers should provide an
inimitable interaction that brings your YOUR PEOPLE
brand’s unique offering to life – your
brand, your people and the experiences you
provide help differentiate.
THE BREAK UP: 5 WAYS INSURANCE BRANDS CAN RETAIN MORE CUSTOMERS
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11. 2. TRANSFORM EMPLOYEES
(AND CUSTOMERS) INTO
BRAND ADVOCATES
Similar to any franchise model, keeping the brand consistent from marketing to field agents is difficult.
Align and guide your most important assets – front-line employees including Agents,
Agency Managers, Customer Service Reps and Sales Reps. They can be your greatest advocates—
transforming your customers into advocates, too. A three-pronged focus will help your Agents become
a relationship-focused and make your brand a proactive, service-oriented brand.
Distribute focused, timely and relevant communication to your
COMMUNICATE workforce so they’re up-to-date on key messages and programs
Provide a forum for agents to share insights and ideas, fueling a BRAND
ENGAGE sense of ownership and responsibility for corporate initiatives PASSIONATES
Equip agents with useful tools and information that empower
EMPOWER them with confidence to advocate your brand
THE BREAK UP: 5 WAYS INSURANCE BRANDS CAN RETAIN MORE CUSTOMERS
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12. 3. CREATE CROSS-CHANNEL
CONSISTENCY FOR A
COHESIVE EXPERIENCE
Today, insurers rely on multiple channels:
along with agents, they sell directly through call CU
S RR
centers, the web, and increasingly, mobile devices. P ER FIELD E
OFFICE
N
P
And the consumer is in the driver’s seat – expecting to
T
O
CU
L.
SH
MO
seamlessly and conveniently hop from one channel to
CIA
SO .
DIG . SO
BIL ITAL
BIL
S
TOM
E
ITA CIAL
NEW
the next.
MO DIG
E.
L.
ER S
.
Cross-channel selling is complicated. And while every
touchpoint should be customized by audience and SALES CLAIMS
need, focusing on holistic experience design – CENTER CENTER
choreographing the interactions between a brand and DIGITAL. MOBILE.
SOCIAL.
its most important people – makes a big difference.
Create simple and direct transitions from one touchpoint
to the next to enable customers to focus on the
experience rather than the logistics.
THE BREAK UP: 5 WAYS INSURANCE BRANDS CAN RETAIN MORE CUSTOMERS
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13. 4. DELIVER SUPERIOR
CUSTOMER SERVICE BY
ENHANCING OWNED MEDIA
Insurance is an intangible product (not to mention complicated). Owned media
experiences – the touchpoints and assets your brand owns – in the customer’s shopping, purchasing
and service journey are most important in helping make it as simple, empowering, helpful and
tangible as possible. Three owned media channels are key: your digital ecosystem, your people and
your environments. Enhancing owned media will, in turn, influence positive earned media.
DIGITAL PEOPLE ENVIRONMENTAL
• Empower consumers with easy- • Provide a clear set of customer • Develop a kit of parts to make
to-use online tools and apps service expectations to deliver a each local office experience feel
• Balance education and seamless experience and look the same
entertainment on your website • Offer educational and training • Make each local office
• Leverage social media for opportunities that focus on the environment feel like a destination
ongoing customer customer experience • Bring your office into the
service and • Develop a platform for employees community with a pop-up or
STAT!
insight- COOL lennials to stay up-to-date on campaigns mobile experience
f Mil
gathering 48% o h 28%
it
and programs
ared w
(comp mers)
get
oo
of Baby B otes
nce qu
insura
online.
4
THE BREAK UP: 5 WAYS INSURANCE BRANDS CAN RETAIN MORE CUSTOMERS
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14. 5. BUILD LOCAL RELATIONSHIPS
TO GENERATE QUALITY
REFERRALS
Relying on cold calling will do very little in building relationships (not to mention little opportunity
to differentiate from the competition). What generates the most successful and long-term business is
creating a pipeline of quality referrals – from both your most loyal customers, of course, but
also your (many times overlooked) local business partners. From mortgage brokers and real
estate agents to the local go-to auto shop, these connections can help Agents tap into a pool of like-
minded, relevant shoppers.
Create appreciation Integrate business Develop a standard
programs for your most partner referrals into process when
valuable local business your sales goals and engaging partners
partners to encourage metrics to encourage for agents and agency
referrals, celebrate your the field to hunt for managers to fully maximize
partnership and generate new relationships and the long-term power of
brand loyalty. strengthen existing ones. these business partners.
THE BREAK UP: 5 WAYS INSURANCE BRANDS CAN RETAIN MORE CUSTOMERS
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15. INSTEAD OF THE LONG-TERM
RELATIONSHIPS
GETTING INVOLVED INSURANCE BRANDS
IN A SEEMINGLY CREATE WITH THEIR MOST
IMPORTANT PEOPLE –
NEVER-ENDING FROM EMPLOYEES TO
ACQUISITION CUSTOMERS, SHOPPERS,
COMPETITION, BUSINESS PARTNERS AND
THE LOCAL COMMUNITY
MAKE IT YOUR – IS KEY TO BUILDING
PRIORITY TO A STRONG BASE OF
LONGTIME CUSTOMERS.
SATISFY AND
RETAIN CURRENT
CUSTOMERS IT’S TIME TO
BY HAVING GET BACK TO
MEANINGFUL ENGAGING (NOT
INTERACTIONS JUST TALKING).
WITH THEM.
THE BREAK UP: 5 WAYS INSURANCE BRANDS CAN RETAIN MORE CUSTOMERS
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16. RESOURCES
1. Jack Morton proprietary study,
“The Best Experience Brands”, 2011
2. J.D. Power & Associates Reports, “Importance
of Price to Insurance Shoppers Increases,
While Satisfaction with Price Decreases”, 2010
3. Forrester, “The US Auto Insurance Buyers Journey”, 2009
4. McKinsey Consumer and Shopper Insights,
“Consumers Shake Up the Insurance Market”, June 2011
5. Advertising Age, “How the Insurance Industry Got Into a
$4 Billion Ad Brawl”, February 2011