Customer Retention
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holli.flower
- Insurance Journal Fan
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- Joined: Mon Aug 15, 2011 12:41 pm
Customer Retention
What is the secret(s) to customer retention? Your thoughts, suggestions, issues you have encountered, programs you have found success through upon implementation… all feedback is welcomed and appreciated.
Re: Customer Retention
Coming from the customers point of view:
1. Do what's in the client's best interest. Don't assume that you can just "renew as is" every year.
2. If you claim to provide "value added service", be prepared to define what that "service" is and how it actually benefits the client.
3. Understand what your client does. I deal with our vendors/contractors/service providers insurance agents/brokers on a daily basis, and very few of them have a clue as to what their client actually does, or understands what their real exposures are.
4. Understand your insurance markets, what they are, and are not looking for.
5. Understand what actually is, and is not, covered under an insurance policy. Also, have a broad understanding of the various insurance coverages available, and how they fit into an overall risk management program for your client.
6. Don't "sell". Salespersons are a dime a dozen, and no one really trusts them.
1. Do what's in the client's best interest. Don't assume that you can just "renew as is" every year.
2. If you claim to provide "value added service", be prepared to define what that "service" is and how it actually benefits the client.
3. Understand what your client does. I deal with our vendors/contractors/service providers insurance agents/brokers on a daily basis, and very few of them have a clue as to what their client actually does, or understands what their real exposures are.
4. Understand your insurance markets, what they are, and are not looking for.
5. Understand what actually is, and is not, covered under an insurance policy. Also, have a broad understanding of the various insurance coverages available, and how they fit into an overall risk management program for your client.
6. Don't "sell". Salespersons are a dime a dozen, and no one really trusts them.
Re: Customer Retention
In addition to what Big Dog had to say:
1. Be available to EVERY client 24/7
2. Promise to return phone calls IMMEDIATELY
3. NEVER/EVER let a client pay more than they have to for comparable coverage/company
4. Holiday and Birthday cards are a must
5. Monthly newsletter
6. Call at least once a year to offer an insurance review
7. Renewal 'Thank You' postcards (vistaprint.com or gotprint.com)
8. Billing 'Reminder' notice
9. Non-pay reminders
10.Service/Service/Service
90%-95% Retention
1. Be available to EVERY client 24/7
2. Promise to return phone calls IMMEDIATELY
3. NEVER/EVER let a client pay more than they have to for comparable coverage/company
4. Holiday and Birthday cards are a must
5. Monthly newsletter
6. Call at least once a year to offer an insurance review
7. Renewal 'Thank You' postcards (vistaprint.com or gotprint.com)
8. Billing 'Reminder' notice
9. Non-pay reminders
10.Service/Service/Service
90%-95% Retention
Re: Customer Retention
agreed.. with both above. If you care then show that you actually care and a client wont dare go somewhere else.. make them feel special. 