In 2010, the insurance industry began to evolve – previously expected market share was no longer guaranteed and the competitive landscape became crowded. Philadelphia Insurance Companies (PHLY) realized that long-term success required a fresh strategy. They needed a differentiator to set them apart from competitors. With a passion for service and customer experience being held to a high standard, they sought to make improvements.
Today marks the end of my third week since joining the marketing department at Confirmit and I’ve been asked to share my thoughts on my time here so far!
Last Thursday, I enjoyed an opportunity to interview, fireside chat style, Terry DuVarne, First Vice President at PennyMac Loan Services. Their solutions are simple and elegant yet incredible effective. What are their secrets?
Customer retention refers to an organization’s processes and activities that aim at stopping customers from churning or switching to a competitor. Increasing customer loyalty is a key goal of any business, and contributes greatly towards sustainable growth. Despite this fact, and irrefutable evidence that existing customers are more valuable than new ones, customer retention has often taken a back seat to driving sales. But this trend is changing, especially given the rise of subscription-based business models.
Earlier this year, we held our most successful B2B Summit yet – with record turn out and standing room only! Coming up next on the event docket is Confirmit’s 5th Annual Insurance Summit – one of our strongest events given its history, strength and client breadth in the insurance industry.
Phew! We’re back from ESOMAR Congress and as always, it was a huge event. Over 1200 people from 70 countries all gathered in Berlin for four days of fantastic Market Research action. There’s far too much to summarise in one blog post, but there are a few highlights it’s worth revisiting.
It’s that time of year again, where employees at Confirmit get ramped up to celebrate CX Day, and more importantly our customers!
CEM software – or Customer Experience Management software - refers to the suite of software solutions that help organizations monitor their relationships with their customers, analyze the insights from feedback and other relevant data (e.g. behavioral, purchase history), and take action in order to improve the customer experience.
Customer experience management combines all the processes an organization has in place to monitor and improve customer interactions, regardless of the channel or medium customers use to get in touch. CEM has become a key differentiator for today’s businesses, as products and services have become increasingly commoditized. As a discipline with allocated budget and resources, it is key to retaining customers and generating positive word of mouth, among other benefits, which drive business change and increase revenue.
There is a lot of talk about personalization in the world today. Particularly when it comes to personalizing the Customer Experience. And rightly so. Expectations from consumers and B2B buyers alike are sky high.