Delivering on Expectations, Communication Create Organic New Business Growth
How Justin is turning around an almost-lost client
Customer retention, let alone organic growth, usually comes down to people delivering on promises. Missed deadlines, less than acceptable quality, and poor communication all naturally lead
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Turning a small business into a big one is never easy. The statistics are grim. Research suggests that only one-tenth of 1 percent of companies will ever reach $250 million in annual revenue. An even more microscopic group, just 0.036 percent, will reach $1 billion in annual sales.
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Since 1996 Casey has been coaching and guiding businesses through extraordinary growth.Tailoring his coaching approach and methods to suit each individual business, it’s size, it’s industry, it’s market and it’s situation has allowed some tremendous results to be achieved.So far hundreds of millions of dollars in additional growth have been added.These business coaching increases have been achieved in all types of industries, in all types of business from the very small to massive multi-nationals using Casey’s own unique proprietary approach and methods.
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Poor communication is often to blame for lost business. So many times we think we are doing a good job, sending emails to clients so they stay informed. What we don’t know is if they are getting those emails or if they are being lost in a spam filter somewhere along the line. To balance your communication efforts, it is probably a good idea to send a direct mail piece periodically.
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Whether your chosen route is maximisation of existing markets, development of new ones or a combined approach, you may well need specific analytical, marketing and sales expertise whilst not losing focus on existing business.
The companies that are generating the most growth are the ones that have taken the idea of segmentation the furthest. The approach is generally product agnostic. You just need to think about what products you offer each segment and at what price. Maybe you need to invent a new product or repackage an existing product.
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Organic growth in the third quarter in Risk & Insurance continued to be encouraging with a strong contribution from Latin America and Asia, although conditions in more developed markets such as Europe have been more challenging. The insurance rating environment remains weak across most sectors with the international markets continuing to be particularly competitive. However, following the recent run of catastrophe losses, the London Market and more specifically the Lloyd’s Market appears to be less receptive to further rate reductions.
Company performance suffers as a result. Then take the example of a company that wants to grow by acquiring new customers. Yet its sales team is rewarded for customer retention instead: Again, company performance is compromised as a result.
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Poor communication is often to blame for lost business. So many times we think we are doing a good job, sending emails to clients so they stay informed. What we don’t know is if they are getting those emails or if they are being lost in a spam filter somewhere along the line. To balance your communication efforts, it is probably a good idea to send a direct mail piece periodically.