3 Reasons why CRM systems becomes liability after a couple of years!!

Why CRM becomes a liability after a couple of years!! As your business grows, the most important activity to grow becomes selling!! Whether it is managing the pipeline, monitoring the sales metrics or evaluating the performance of your sales team, XLS becomes too cumbersome to manage all this. There comes need for a CRM. Typically, SMBs go for a SaaS CRM which offers value for money and hardly any capex. Makes sense…right? Fast forward a couple of years and usability of the CRM is low. Management cannot get exact pipeline information nor sales metrics and worst of all… the data…

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Analytics of the future Enhancing Customer Life Time Value (CLTV)

In Insurance, most of the times we focus on the high premium paying customers as the most important customers and focus our marketing strategize to grow these customers. Consider the following scenarios for these high premium paying customers Some of them may stop paying premium after sometime (Lapsation) Some may not buy any other policy thereby limiting the revenue they can generate Few of them may be involved in fraudulent claim activities On the other hand they may be customers whose premium is less but they are loyal and may buy more policies in the coming years. These customers end…

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LEVERAGE ANALYTICS LIKE INDUSTRY LEADERS – WITHOUT THEIR BUDGET!!

It is widely known that analytics can help immensely in various aspects of a business like revenue growth, arrest customer churn, identify fraud, better forecasting and planning etc. If the benefits of adopting analytics are so compelling then, why it is not leveraged by the companies of all sizes? Gartner says that only 11% of the organizations are able to leverage the value of analytics which mostly includes Fortune 500 companies. The reasons for less adoption of analytics are many, like, high CAPEX required in technologies, shortage of data scientist skills, lack of knowledge of the process involved etc. With…

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How much data you really need?

With the advent of Big Data and the advancement of technology to store it, are we justified in holding large quantities of it? What are the drawbacks/benefits of doing so and how can organizations find the right balance.   This is more than a decade ago. A large telecom organization was negotiating with its strategic outsourcing partner. The topic – how much data should its data warehouse hold? 3, 4 or 6 months. And the challenge was – holding more data, meant more expenditure. And even though it meant more business value, the strategic outsourcing partner won that battle and…

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Are your best telecom customers leaving you?

The most important parameter to build a successful telecom business is the “Ability to Attract, Retain and Grow” the most profitable customers. While a lot of efforts and resources are spent to attract new customers, the attention on Retention and Growth of existing customers is not that high.

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Are your best Insurance customers leaving you?

In a recent customer churn model for a life insurance company, we found that there are over 20 parameters that can impact churn although the weightage of each parameter is different. This demonstrates the complexity associated with a customer churn

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Enhancing Customer Life Time Value (CLTV)

In Insurance, most of the times we focus on the high premium paying customers as the most important customers and focus our marketing strategize to grow these customers.

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Leverage Analytics like Industry Leaders – without their budget!!

It is widely known that analytics can help immensely in various aspects of a business like revenue growth, arrest customer churn, identify fraud, better forecasting and planning etc.

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How SMBs can embrace analytics

Ask any small and medium-sized business (SMB) about its top priority, and typically the answer will revolve around retaining the growing customers and increasing revenue. Similarly, a majority would say that cost is the single most important obstacle in adopting technology.

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How can MFs make hay with Analytics

Most industry pundits agree that the Mutual fund industry is at the cusp of a significant growth period. In an interview to one of the business dailies, Reliance MF CEO said that the mutual fund industry is set to achieve an investor base of 10 crore accounts in the next five years.

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