Why CRM becomes a liability after a couple of years!!
As your business grows, the most important activity to grow becomes selling!! Whether it is managing the pipeline, monitoring the sales metrics or evaluating the performance of your sales team, XLS becomes too cumbersome to manage all this. There comes need for a CRM. Typically, SMBs go for a SaaS CRM which offers value for money and hardly any capex. Makes sense…right?
In Insurance, most of the times we focus on the high premium paying customers as the most important customers and focus our marketing strategize to grow these customers. Consider the following scenarios for these high premium paying customers
- Some of them may stop paying premium after sometime (Lapsation)
- Some may not buy any other policy thereby limiting the revenue they can generate
- Few of them may be involved in fraudulent claim activities
It is widely known that analytics can help immensely in various aspects of a business like revenue growth, arrest customer churn, identify fraud, better forecasting and planning etc. If the benefits of adopting analytics are so compelling then, why it is not leveraged by the companies of all sizes? Gartner says that only 11% of […]
With the advent of Big Data and the advancement of technology to store it, are we justified in holding large quantities of it? What are the drawbacks/benefits of doing so and how can organizations find the right balance. This is more than a decade ago. A large telecom organization was negotiating with its strategic […]
The most important parameter to build a successful telecom business is the “Ability to Attract, Retain and Grow” the most profitable customers. While a lot of efforts and resources are spent to attract new customers, the attention on Retention and Growth of existing customers is not that high. Customer retention is essentially the ability to […]