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When the COVID-19 pandemic hit, life as we know it was turned completely upside down. All of a sudden, we could not do things the way we used to, from how we engage with clients, team members, conduct business to how we socialise. To survive a lot of businesses had to pivot and do so very quickly. The past two years have taught that businesses have to stay ready for any eventuality, have a plan in place to make sure their business can continue to operate and thrive in a time of crisis.
That’s why Santam is committed to helping you flourish with a few sure-fire ideas on future-proofing your intermediary business.
Map your client experience
These days, a customer-centric company is expected to be more than one that provides good service – it’s about putting yourself in your customers’ shoes at every interaction. Every single touchpoint makes an impression, from how you answer the phone to your reception room, website and social media presence. From the awareness stage, through to the purchasing process up to post-purchase, it’s important to map your customer’s journey to ensure that you are the best you can be at every stage.
The first step to take is to create a customer journey map (if you do an online search, you’ll see that it resembles an infographic). You can use a specific online tool such as Smaply or any project management tool such as Trello or Asana to gather information, share ideas and put together your visualisation. Or brainstorm with your team using a whiteboard or sticky notes to gather your ideas.
To get started, decide:
Look for new ways to be ‘found’
As consumers become more tech savvy, they become less receptive to outbound or ‘push’ marketing. They are more likely to do a quick online search to review a product. According to one study*, South Africans spend 8 hours on the internet daily. Therefore, it’s imperative for your business to be present and easy to find through a website, opinion articles on your blog and by having a strong social media presence. Here are a few ideas on improving your visibility:
Sell your value proposition
It’s a tough economy, we know, but you don’t have to compete on price alone. Apply your value proposition to grow your business. This ‘in-a-nutshell’ that sets you apart from competitors can improve every part of your business, from marketing and sales to customer service and recruitment. If you haven’t narrowed down yours, this article runs you through the steps.
Put your value proposition to use in the following ways to sell your business:
Stop client ‘churn’
It can cost up to 5x more to win new clients than to keep existing ones, so it’s important to know the warning signs when a client could consider leaving your business for another. It could be obvious things such as better dealing with client complaints but you could also formulate an upselling action plan around life events, for example:
If you want more advice on growing your business, visit the dedicated intermediaries section of our blog. Articles such as the 7 main industry changes coming over the next few years will help you flourish in a tough trading climate. Get in touch with your relationship manager if you have any queries about Santam products.
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