0845 313 3500
Archive for the ‘Insurance-specific’ Category
Insurance Times: Marketing is Key
Thursday, April 29th, 2010We were thrilled this week to see that Insurance Times magazine had recognised the importance of marketing. They have commented on many of the things we find ourselves preaching about. It’s good to see there’s some method in our madness!
It’s really interesting to see that in terms of insurance marketing, the article’s main focus appears to be on all things web-based, such as social media and email strategies. This is in line with current trends within the marketing industry and is an area growing rapidly. It’s vital for businesses to understand how these new and exciting web-based solutions can help their business grow.
Follow this link to read the full Insurance Times article and pick up some great tips. If this whets your appetite for marketing, take a look around the Ignition website to find out more, give us a call, or see us at the BIBA exhibition in May.
Ignition attending BIBA 2010 Conference & Exhibition
Tuesday, April 27th, 2010Ignition are attending the insurance industry’s annual BIBA Conference and Exhibition at ExCel, London, on May 19-20 this year. With keynote presentations, seminars and other events packed into the two-day schedule, it’s the ideal opportunity to come and speak to the insurance marketing experts.
BIBA is the UK’s leading general insurance intermediary organisation, representing the interests of insurance brokers, intermediaries and their customers. Ignition is supporting the BIBA 2010 Conference and Exhibition and we will be in attendance throughout the event to answer you questions and share our insurance marketing knowledge with you. You will be able to find out more about us by coming to one of our conference sessions, or visiting us on our stand (D23).
For a free ticket, click on the image below, print it out and bring it along with you, or to find out more about the event visit BIBA’s website by clicking here.
Retention….. the hidden key to broker growth?
Thursday, March 4th, 2010Insurance brokers are indeed fortunate. Why? Well there aren’t many sectors where a company sells something to a customer, only for that same customer to return time and time again, around 80% of the time. Not in consumer goods, retail, telecoms, automotive, or a whole host of other sectors does this happen. So do brokers really appreciate the opportunity that renewal dates present to other brokers?
The reality is that competitive intensity within the commercial insurance sector is increasing within an uncertain economic landscape. Many brokers are considering some sort of lead generation activity as a solution to the problem of customer churn, often as a result of a price sensitive market. So how do you fend off the dogs and look after your own?
Brokers do have options. You could accept that you will lose some customers to rival broker lead generation whilst employing the same tactic to do the same to others… growing to stand still. You could rely on traditional methods of business development and wait for the ‘referral’ phone to ring. Welcome but unpredictable. Or you could hone and develop the customers you already have, by locking them in and giving them no reason to look elsewhere. It’s your choice but its vital to get it right.
Proper, planned, targeted and relevant Customer Relationship Management is one way to protect your customers from walking away to the next price driven offer. There is more to it though than simply relying on good customer service, it’s about working closer, becoming tighter and adding more value to their businesses through your expertise, to ultimately become their broker, rather than just a broker. Would you move your business to another supplier if they demonstrated value to your business?
True CRM is about effective communication with customers, learning along the way and building loyalty over a period of time. Knowing what they like, don’t like, need and want, all at the right time. It’s no more complicated than that. To facilitate true CRM, a broker needs to be able to interpret data intelligently and communicate with customers in a regular and relevant way, demonstrating usefulness and value to a customer (it’s not just about a newsletter!). Advice is available on how to create a simple plan and putting it into action, utilising the right tools. Get it right and you can not only protect your hard earned, happy and loyal customers from attack, but also enhance your profit and reap organic growth at very low cost.
If you do want to operate growth on all fronts by adding to the external pipeline, I know a few chaps who do a mean line in lead generation too…