Communicating with your customers through a computer may be easier and less expensive in the short term, but a recent study suggests that financial services companies need to develop different strategies for dealing with those customers if they hope to establish a continuingand profitablerelationship.
Jonathan Brookner, principle author of the report, One to One in Retail Financial Services: New Strategies for Creating Value Through Customer Relationships, believes that the more commodity-driven the insurance industry becomes with its products, the greater the danger that customers will see themselves as commodities. (The report was prepared by the Peppers & Rogers Group (www.1to1.com) and LOMA (www.loma.org).)
According to Brookner, insurers benefit when customers use the Internet to contact them, especially when theyre dealing with simple forms and other things that can be a time sink for a customer service rep. But, he adds, Just because they use the Internet where it is appropriate or convenient doesnt mean they should be treated only in that manner. To make customers feel personalized, you have to deal with them on a one-to-one basis.
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