Cross-Sell and Next Best Offer

The Challenges

Let there be no doubt, your customer database is a goldmine waiting for you to effectively tap into incremental revenue opportunities. And, if the old adage that it costs ten (10) times more effort to win a new customer than to sell additional products/services to an existing customer is true, you'd be crazy not to mine your existing customer database to drive revenue!

Unfortunately, some companies lack an integrated view of customers. Instead, customer data may be spread across multiple billing or policy systems, customer interactions reside in call center or support systems, and some important data, like email addresses, may not be captured at all.

For those companies that have segmented their customers and identified the next-best option or cross-sell opportunities, communicating with those customers when they are ready to buy via the appropriate marketing channel raises another challenge. Historically, direct mail, call center or direct sales force interaction garner some success, but at what cost? While traditional marketing efforts like direct mail, direct sales for interaction and other similar methods still play an important role in the customer engagement ecosystem, digital marketing tools like email, personalized web experiences and even social media are more prevalent today and are readily embraced by baby boomers and gen-y alike.

The Package

Distribion's customer retention programs focus on customer engagement to minimize customer attrition while also enticing customers to learn more about additional products and services. Distribion's Contact Manager can store important customer database fields like policy expiration date, customer birthday/anniversary and other important customer/policy profile information that, when properly utilized, automates the process of sending nurtured messages to customers across both online and offline communication channels like email, direct mail and more.

As with all of Distribion's program deployments, customers not only gain a firm understanding how to leverage the Distributed Marketing Platform to create and deploy integrated, multi-part marketing messaging campaigns using best practices methodologies, but more importantly, generate results in weeks, not months.

The Results

Who wouldn't want to increase policy renewal rates while dramatically reducing the effort involved with retaining your profitable customers? What would a 1% increase in policy renewal rates mean to your top line? Increased marketing efficiency while reducing cost per touch point rings true for all marketing organizations faced with budget reductions and staffing levels. Throw in brand and regulatory compliance and minimum IT support needed to pull it off... Don't delay, contact Distribion today.

 

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