DomesticKeeping Customers for longer |
|
Providing excellent service to customers is of paramount importance to all high street banks. Winning your customers trust is part of the business of winning their transactions. Almost all of your competitors offer the same products you do, from savings accounts to pet insurance. To break this same old same old cycle you need to find ways to get closer to the day to day things your customers feel strongly about and hopefully find these in areas in which your competitors don’t operate.
If we take a few moments to look at some statistics that typify this we’ll find that the ABI (Association of British Insurers) state that 77% of households have home contents insurance and that this figure has not changed significantly over the last 5 or so years. Put simply this means that large chunks of your organisation and those of your competitors are chasing market share. This is fine but it offers no differentiation and continues the cycle of same old same old.
Looking more closely at the fundamentals of some of the products you sell might help you redefine what it is you are selling. Home Contents insurance for example helps your customers when the proverbial hits the fan. It’s good to be the provider of this service and the customer feels secure in the knowledge that an organisation like yours will step up to the square in times of need. Another way of thinking however might be that shouldn’t you be helping them prevent the proverbial hitting the fan in the first place. Think about it… in almost every other area of your business you are helping and advising your customer to be prudent in their lives, why on earth aren’t you facilitating home security; or to look at it differently – proactive insurance.
There are approximately 24 million homes much over the last few years. It is a mature market. Now if we now look at the professionally certificated home security market it has a penetration rate of circa 10% We need to understand why is this market is so under developed?
In the most recent worthwhile survey conducted by the BISA some 36% of households stated that they’d like an alarm but thought it was too expensive, this is hardly surprising as the average cost of installing an alarm is anywhere between £600 and £1000 this plus the monitoring of the alarm post installation which costs anywhere between £16.50 to £35 per month. Maintenance is often charged separately typically costing £100 per annum.
Working with 4bi you can install high quality monitored home security into the homes of your customers at no cost, that’s no cost to you and no cost to them. The monitoring and aftercare costs just 82 pence a day.
4bi will pay you a commission for introducing the customer to us and share the ongoing revenue stream with you for as long as the customer stays with us or for as long as we have a working relationship with you.
Just like insurance all this can be branded as your product, all correspondence and telephones will be answered in an agreed format.
For more information about working with 4bi please contact us on:
T: 0203 006 0461 Option 1
|
|
Banking |
