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I would start with digging into your in house list. Segmented analysis of your customers along the lines of high, normal, and low profitability. Then field visits. 30-50 customers in each segment for statistically significant validity) followed by a larger segmented survey along the same lines. The aim is to discover who your customers are, why they buy your products, and what more they expect from you.
The survey of your house list should expose your unarticulated strengths which can then be played up in the marketing and used by your client facing teams. Conversely you will also find weaknesses which can become action points for operational improvements.
Marketing a product like insurance or investment is largely a perception game and unless you are a professional investor it is unlikely you can differentiate between an ICCI offering or an Axis bank offering or mutual fund offering. So competitor analysis IMO is more for benchmarking product portfolio mix and less for client impact.
Hello Abey! Here's an example: Consider a semi govt entity who services clients on say investment policies or insurance schemes. Currently, they attract clientele on account of their ownership. They would like to now have a client centric approach and create a team which is aware of the market dynamics, competition and their roles.
What kind of BI measures or practices must they adopt for the client service cell? Where should they start?
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