2 Ways To Improve Customer Lifecycle

The world of business is changing greatly, and this includes the insurance industry. Today, people have quick and easy access to a wealth of knowledge, and they can easily contact and interact with those they do business with using tools like email and social media. This interaction has become known as the customer lifecycle, which is essentially the progression of steps a customer goes through when considering, purchasing, using, and maintaining loyalty to a product or service. Here are two ways to keep up with these changes and to improve your customer lifecycle.

1. Establish Your Presence

Not all that long ago, there were far fewer avenues available to get the word out about your insurance business. Today, however, there are many online tools you can use. While this is encouraging, keep in mind that it also means there is far more competition. Platforms and opportunities to connect with your potential customers and existing clients include:

  • Up-to-date and continual articles posted to your website
  • A business blog
  • Facebook and social media ads
  • LinkedIn research and engagement
  • Direct mail and promotional postcards
  • Networking events in your local area

2. Keep Retention In Mind

Once you gain a customer, it can be easy to forget about them or take them for granted. They pay their premiums while you continue your ongoing hunt for new clients. However, it’s crucial to make efforts to keep the clients you already have happy. Make efforts to reach out to them, offer special promotions, and continue to thank them for their ongoing business.

Plus, you can also use your current customers to gain new ones. For starters, when possible, offer some kind of incentive to thank customers for referrals. If you’ve done your job in keeping them satisfied, it shouldn’t be difficult for them to convince their friends and family that your company provides the quality of service they expect.

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