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Реферат The Peculiarities of Promotional Activity in the Sphere of Financial Services





ls, only in a verbal way). Calling clients with no specific reason to make sure that everything is running just fine and simply checking up on them from time to time to see whether they are content with the service provision or not is an effective way of building and sustaining healthy relationship with the client. It does not mean that one type of calls should be omitted; the main point is that companies should find the golden middle between promoting new services, topping up their sales and the general client relationship management. Both of them affect clients perception positively. In the former, clients feel that they are looked after in the way that the provider would like to choose something more reasonable for them, while the latter makes clients truly secure about their situation, when they are really asked how they feel about their plans and whether something should be changed or improved.is also necessary to organize face-to-face review meetings with clients every once in a while (once in every three months) simply to ensure that their financial plans are operating correctly, with no unexpected lapses. Such meetings can make clients feel appreciated and that they are priority clients, which is a very positive aspect when building a healthy relationship. It is more than reasonable to say that e-mails and phone calls are sometimes insufficient for client maintenance. The key is being able to do it in a reasonable succession - not too frequently and not too rarely. Frequent e-mails and calls can make clients annoyed and distracted, while rare signals of your presence and care may result in suspicion and, ultimately, lack of trust and loyalty.loyal customers: financial services company should undoubtedly award those customers and clients who remain loyal, stable and reliable in a certain way. Bain amp; Co., a management consulting company conducted a research and according to the results, it identified that a 5% increase in retention rate yields respective profit increase equal to 25-100%. It had also been revealed that repeat customersto global management consulting firm Bain and Co., a 5 percent increase in retention yields profit increases of 25 to 100 percent. In addition, on average, repeat customers spend more than 65% more than new customers in any industry; in the context of financial services it can not be regarded as a mere increase in sales, but rather an increase in the willingness to engage in the investment activity. Thus, those clients who bring you most of your profit are the existing ones. In financial services, existing clients may decide to invest more, an example being a monthly increase from $ 500 to $ 1 000 over 10 years in the regular service plan; having established trust can customers become loyal. Financial services companies should encourage their clients to maintain a working relationship, rather than make them doubt their attitude and overall expertise. As mentioned earlier, the companies should stay in touch, and give their clients something of value in exchange for their time, attention and business. It does not necessarily mean that is should be too much; a special savings plan, for instance, available solely to existing clients, a notice of an upcoming event, helpful insights and advice, or news they can use are all effective ways of rewarding loyal customers. One thing that companies should not forget is that if they are not those who are rewarding customers, then their competitors are likely to lure them and award them eventuallyplaints and feedback gathering: should never avoid dealing with customer complaints and should at all times consider their customer feedback. The subtlety of the financial services industry drives around the notion of intangibility, and miscommunication should be put away. If a client has a complaint, then the professionals should meet with him and help him in the best way possible. Otherwise, the client may become disappointed and become disloyal. This might also result in clients sharing their negative experiences with colleagues and, in turn, companies potential clients. Of course, the motivation to help clients should not only be caused by possible negative outcomes, but there are more than enough reasons to listen to them, since they are the drivers of the business. Their feedback, suggestions and advice on existing services and their potential improvement should also be taken into account and even partially implemented, rather than ignored. For more than enough reasons, dissatisfied and angry clients are deadly for financial services companies.referrals and understanding the benefits of relationship buildingis important to implement the above-mentioned aspects of relationship building, especially for financial services companies. Most financial institutions and consultancies get more than 50% of their clients not out of cold calls and direct marketing, but rather from introductions and referrals. Refe...


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