Self-Service: A Great Way to Help (and keep) Your Customers
Now is a great time to share information about self-service capabilities with your customers. Whether it’s paying a bill, starting a claim online or getting proof of insurance, your customers will appreciate the flexibility and control that self-service options can provide.
But did you know sharing these kinds of solutions can also help you retain your customers? It’s true.
Aside from the obvious benefit of lowering your cost to serve your customers, self-service options (provided free of charge by partners like us) are actually what your customers want and they may stay with you longer as a result. According to research by the Aberdeen Group, companies who are best-in-class for self-service retain 76% more of their customers and have 14.2 times greater customer satisfaction. It’s simple: give people what they want and they will stay.
And small business owners are no different. They want the advice of their agent on premium and coverage changes, but want to do the simple things themselves, like paying their bill online. Business owners are busy people, and they need the flexibility to do the smaller tasks on their own time. By allowing customers to help themselves with the simpler tasks, it keeps you and your staff free to help with the more complex issues — and that’s where you truly shine.
Aberdeen Group reports that companies with strong self-service programs enjoy an 85% year-over-year increase in customer retention rates
So, as you’re helping your customers understand all the ways you can support them, remember to talk about the self-service options you can provide. Not only will your customers appreciate it right now, it’s likely they will be your customer longer as a result.
Cathy is the Vice President, Small Commercial Sales and Distribution. She is accountable for the profit and growth of $2 billion in direct written premium across the United States. Her responsibilities include sales and distribution, and relationship management for more than 11,000 distribution partners. Prior to her current role, she was the Regional Vice President for the Central Atlantic, and Northeastern Regions where she was accountable for profitability for both personal and commercial lines.
With over 25 years of industry experience, Cathy has served in roles of increasing responsibility across many disciplines, including Vice President of Small Commercial. During her tenure as Vice President, Small Commercial she was primarily responsible for Commercial Pricing, Reporting, Analytics & Predictive Modeling as well as the automation of Small Commercial. She has also held the roles of Regional Underwriting and Product Associate Vice President, Regional Sales Associate Vice President and Operations Officer.
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