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Posts Tagged ‘marketing’

OVERVIEW:

A common perception of insurance in most African countries is that carriers generally fail to honor the contracts policy, while insured losses occur, and in most cases, use of fine prints included in these insurance contracts to deny any claims or significantly reduce claim payments. Such is the refrain heard not only among policyholders and customers, but with alarming regularity of the general public, resulting in the negative rates and low penetration of insurance products and services in most African countries.

Although several factors can be easily identified as drivers of this perception, including lack of adequate understanding of the insurance contract, its terms and conditions, restrictions, warranties, exclusions and deductibles including the legal and regulatory various countries, the focus of this article is and the role of marketing and sales of insurance, including its technological, regulatory and management strategies can be used as a vehicle for effective teaching for change not only perception above but by the claims process more transparent and beneficial to the insured.

There is thus a direct corollary between the marketing of insurance, technical knowledge of the agent, the types of coverages and policies available and if an application is denied or underpaid in the event of a disaster insured.

THE SIERRA LEONE CASE STUDY:

For decades, the marketing of insurance products and services in Sierra Leone has hinged primarily on the agency “direct” method, in which business agents earn wages or as independent contractors are paid commissions on sales purely to sell and market their products. The marketing policies of life insurance, property and liability policies such as fire, marine, accident and allies have been mostly sold by the agents of the company.

For example, while I was at the National Insurance Company (NIC) 1981-1985, the sales company executive has been marketing its leaders, sometimes with little technical knowledge or not the complexity of risk management and collateral insurance products merely sold the policies like commodities. The unpleasant task most often in advising policyholders that their claims are not covered by the terms of the contract of insurance in general was our responsibility in the claims department. Until then, it was too late to remedy the coverage right has not been sold either to the insured by the agents or managers of alternative policies that might have covered any gaps in policy sale were not disclosed or explained to the insured. Enough questions the lack of coverage, adequacy of coverage for the claimed losses resulted in the denial or underpayment of claims.

The sales function of these agents have focused on the marketing of products or policies of differentiation with little or no product or creativity in their design and marketing to meet the contemporary risks facing a country like Sierra Leone, emerging a decade long civil war and the longing for the creation of policies to address its development aspirations.

For example, the old “Kebbay syndrome Insurance, practiced in Sierra Leone, where an insurance company has become so notorious in the practice of collecting premiums from customers cars without concurrent payment claims when accidents occurred . Such a practice also common in the insurance market in Sierra Leone in the years 1970 to 1990 be precluded from all its ugliness in the market today.

Marketing as defined by the American Marketing Association (AMA), is the performance of business activities that direct the flow of goods and services between the producer and consumer. Property, Accident and marketing liability insurance, however, includes not only traditional sales marketing function, but includes services such as analyzing customer needs, market segmentation, product development and distribution should be integrated into a successful marketing mix.

Insurance Marketing:

A fundamental principle of insurance marketing requires insurance products and policies must be marketed and sold primarily on the basis of security needs and the ability of insurance product and policies to ensure adequate financial security against accidental loss. In addition, new sources of commercial production, which includes new ways to sell insurance products old and traditional, in conjunction with the marketing of new services, such as risk management, loss control and settlement services claim to be pursued by insurance companies.

However, in certain branches of insurance, a compulsion governmental law or regulation to ensure is the determining factor. For example, buying an automobile liability insurance is required by law in most jurisdictions around the world. The proposed requirement recently advocated a policy of title insurance in real estate transactions in Sierra Leone and a national health insurance policy or workers’ compensation are examples of such legal obligation.

To a large extent they have and continue to be the principles and services absent in the marketing mix of insurance products in Sierra Leone, leading to the recent spectacular failures in introducing new products and / or failures in market penetration of various policies the most diverse in the insurance market. For example, the failure of various insurance companies, including the spectacular failure of the country’s largest insurance company, National Insurance Company (NIC) to introduce and effectively market a national policy of Insurance (Nicaragua) since 2004 is a case study of a monumental failure of marketing requiring analysis in a future article.

THE FUNCTION OF SALES:

Officer to succeed, however, a producer of insurance / must develop other skills in addition to selling skills to include:

1) Technical expertise in the principles of insurance and guarantees, as customers usually depend on their agents for advice on choosing the right combination of insurance products and identifying gaps in security.

2) skills in the analysis of consumer needs through techniques of risk management identification and adaptation of insurance programs are a prerequisite.

The first step in managing the risk of a consumer needs is through the identification and analysis of risk of loss to which a client or subject is exposed through an investigation of insurance. The agent must educate and be able to impact a sufficient risk of losing the client and the available safeguards and other mechanisms to transfer confidence to the customer.

MANAGEMENT OF SALES:

Generally, the concept of insurance sales involved the active participation and leadership of the sales force provided by the management for the nature and amount of desired business by the insurer. This involves determining the direction of:

1) The segments of the market available that can be achieved most effectively by agents of the company.

2) The nature of product / policy to be more appealing to specific market segments and most profitable insurer.

3) How to better select, train and motivate producers and agents to sell to specific market segments.

The selection of geographical, demographic and / or industrial sectors of the market to target the marketing of insurance products provides an effective market segmentation and the effective use of resources. Demographic groups may still be defined by characteristics such as age, income, occupation and sex.

With the use of such a technique, for example, various insurance coverages covering health policy, medical, accident, disability and workers compensation to name a few, could be adapted and offered to segments such as officials, parliamentarians, teachers, teachers colleges, providers of health care, the Okada riders and farmers across the country. The same could apply to the security sector, including policies designed specifically to meet the needs of the army and police forces.

In addition, by using techniques of product differentiation in its marketing mix, an insurer may maintain and increase its market share. These can be achieved by changing the standard cover provisions in the contract, pay a different price and providing a different level of service than the competition.

TECHNOLOGIES:

With the progressive installation of computers in insurance companies in Sierra Leone, new technologies are ready to play a major role in coordinating marketing strategies, planning and studies including new products and services, attitudes of consumers, market potential and sales forecasting. The use of computers for not accounting, statistical analysis and pricing and issuing policies and endorsements, but also the marketing of insurance must be actively pursued by individual companies.

Creating a database marketing insurance companies separate and apart from the subscription databases disaster must be a step in the right direction in implementing the new marketing strategy.

Marketing problems:

The challenge and the local industry is the need for diversification of insurance products best suited and able to meet the needs and development. For if the insurance industry can play a very important and essential in the development process of a nation, the challenge now facing is how our insurance professionals respond by introducing creative fonts insurance, tools and marketing techniques as a basis for the country’s sustained economic development.

In the U.S. there are four separate systems for marketing the property and liability insurance. These include:

Independent agency network.

The system of exclusive representation (also known as captive agency system).

The system of direct writing.

The mailing system.

The system primarily used in the insurance market, Sierra Leone is the direct writing system in which individual carriers employ their staff on the payroll and employees exclusively market their policies. However, if the insurance market in Sierra Leone is to survive and grow, as new players and products such as the national system of health insurance and national insurance titles are entering the market, then Development of a new breed of producers, agents and marketing systems should be pursued to prevent the failures of recent introductions of new policies. They must understand and integrate direct mail, agency and technology systems.

To put this marketing objective of a sales force must be recruited and trained in the complexities of the business of insurance policies being introduced and marketed with realistic production goals, policies and strategies marketing and implementation of advertising and promotion campaign.

Well, you finally did. You have prevailed in the use of garbage and says exactly what your boss you think. You’ve taken the plunge and decided to start your own home business affiliate marketing. Home affiliate marketing business can be lucrative. It provides people the opportunity to work for themselves with little risk for them. Those who are notified of sales, good marketing and are not afraid of hard work, often can not incredibly well with a program of home business affiliate marketing.

Home business affiliate marketing seems easy, but you do not need to exercise some caution. You want to avoid the pitfalls of corporate marketing affiliate home that can ruin your home business or for worse, have you crawling on hands and knees back to that boss that now knows how you really feel.

People tend to get excited when they begin a new adventure. Unfortunately, this enthusiasm and eagerness can cause them to miss key things in their agreement. Each time you enter a business program Home Affiliate Marketing, you will be asked to sign an agreement. The terms and conditions of the agreement for both parties must be presented. However, if they want to hide something is where they’ll save. It will be in small print, get your magnifying glass out, or they baffle you with legal language. Anyway, you need to read and understand your agreement thoroughly to avoid disappointment and loss of income.

If registering for a commission based Home Business Program Affiliate marketing then you need to understand how short-term revenue is defined. This is one of the biggest pitfalls of these contracts. They may Advertisers commissions 5-10% but the fall on how they define revenue. Most marketing programs Home Business Affiliate Program will calculate commission on the gross value of sales. In other words, the amount of money the site will receive at the end of the sale. You may think this sounds good. However, you should read this part of the agreement very carefully. The amount of the sale almost always excludes credit card or debit card payment surcharges. They are also likely to exclude payment and delivery charges and any gift wrapping or other surcharges. What looked like a board of Nice is shrinking rapidly before your eyes. Ask these questions specifically before you sign an agreement.

Some marketing programs Home Business Affiliate Program are even stricter in their definition of revenue. Your commission may be based on the profit margin of product sold. For example, if you help sell a book for 20 dollars, but the company only 10 dollars profit, you will receive a percentage of 10 dollars not 20. This can make a substantial difference in your income. Again, make sure you understand these things and ask specifically what your commission will be based. Read your agreement and look for clauses strange resonance. They could come back to haunt you later.

Something else to beware of when you work on commission is returns. Many companies selling housing campaign affiliation only pay commission on sales and only if the customer keeps the item. If they return the items your commission could be revoked. To really rub salt into the wounds, you may be charged for the Commission in traffic if you do not have sufficient funds constituted Commission. Make sure you understand it before signing on. We can not expect a company to pay you a commission on an item that is returned, but make sure you understand their return policy. Discover your rights in this situation.

Home affiliate marketing business can be a good way to earn money. If you have good sales and marketing so he can give you the opportunity to make good use. You will be able to work for you and not someone who undervalues and does not appreciate them. Think of the marketing and home business affiliate carefully. Make sure you understand your agreement and exactly what you paid. You do not want to go crawling to your boss begging for your old job.

Marketing is used to be very expensive and very hard to accomplish a few years ago. You need to go to every newspaper company to ask them to advertise your product and of course, you have to pay for it. Printing brochures that will be distributed to all your target customers is also expensive. But things have changed and technology has evolved. Internet was created and it has helped a lot of company in marketing their products and services to all the people in the world. Some requires payment but some are free. This increases the chances to make money by online marketing. Facebook is an example of a website that offers to make money by online free marketing. Facebook used to be just a website that allows people to share pictures, but now it has become an efficient marketing tool of businessmen. Facebook’s traffic is tremendously higher than ever these days. As a businessman, would you not take advantage of this fact? Marketing your products will no longer be as expensive as before. Facebook will guide you as you create your Ads so there’s no need to worry if you’re new to using the site. Before starting to use Facebook as marketing tool, you must create an appealing website. It should give your visitors an idea of what kind of product you are advertising. Add images of your company and your products. Your Facebook profile should be complete. Details like contact information and official website are important so don’t forget to include them in your profile. You must regularly visit your Facebook account and list all your events to keep your friends updated. Adding friends and building a relationship with them is also essential. Remember, anyone can be a potential customer. You may also want to join Facebook groups that are related to the product you are endorsing. If you already have many friends and you think that you have become more popular, you can start to create your own Facebook group and can easily make money by online marketing.

Dear aspiring entrepreneur,

Before we get started, I want to be very blunt and completely honest with you.   If you are looking for a “get rich quick” scheme or are looking to make $1000 by next week, then you need to leave this page!  The information I am about to share with you is only for people who are SERIOUS about making a living as an Internet Marketer and a Home Business Entrepreneur.   So, if that doesn’t sound like your cup of tea, then good luck to you with your future endeavors and maybe I’ll see you again in the future.

On the flip side, if you ARE ready to become a SERIOUS Internet Marketer and a Home Business Entrepreneur, then please read on.   Over the next few minutes, I am going to expose to you the TRUTH behind Internet Marketing and Working from Home.   I am going to tell you what it takes to become a successful Internet Marketer and I am also going to tell you what most Internet Marketing Guru’s fail to explain to you.

Internet Marketing can be simply explained as using various websites, search engines, and Internet Marketing tools to “market” (or sell) products, services, and information to people over the Internet.   Almost everyone you and I know uses the Internet in some form or another; whether it is to check their email, log on to their favorite social networking site, or to buy and sell something on an auction website.   People from all walks of life and of all ages use the Internet on a daily basis and in today’s troubling times, millions of people are now using the Internet for a NEW purpose; to make money!

The Home Business industry is a multi-million dollar a year industry!  Thousands of people are starting their own business from home each and every day and the number keep growing month after month.   Now why do you think this is?  Well there are a few reasons for it.   Home Businesses are:

With a home business, you never have to worry about:

Wouldn’t it be nice to have the freedom to do whatever you want WHENEVER you want?  Wouldn’t it be nice to have the car or home of your dreams without having to worry about whether or not you can afford it?  And, wouldn’t it be nice to be able to provide for your family without having to run yourself into the ground to do it?  Well, ALL these things are possible when you start you own Home Business.

So how do Internet Marketing and owning a Home Business tie into each other?  Quite simply, to be a successful Home Business owner, you MUST know how to be an Internet Marketer.   This is the TRUTH that other Internet Marketing Gurus fail to mention!  You have absolutely no chance whatsoever of running a successful Home Business, if you cannot market it over the Internet; plain and simple!

The simple fact that you have stumbled upon this article means that you are either a) interested in becoming an Internet Marketer, b) interested in starting a Home Business, or c) you were just looking for something to read.   Chances are, options A and B are correct.   And if so, that means that you have most likely been searching for an opportunity for quite some time now.   You may have even tried an opportunity or two before.   Now let me ask you something; did it fail?  It probably did, right?  WHY???

Simply because, 99. 9% of the opportunities found on the Internet today are SCAMS.   I’m sorry to say this but they are.   Some Internet Guru uses his masterful mind and dreams up some unbelievable opportunity and decides to market it.   It is so good and gets you so excited that you would be crazy not to become part of it!  So you get suckered in like everyone else.   And like everyone else, you successfully get scammed.   Here’s how it works:

These Internet Gurus have one sole purpose in mind and that is to make money.   Not because they want you to succeed as they have, not because they have a fool-proof system, and not because they find enjoyment in helping other!  All they care about is selling you their e-book for some astronomical amount of money!  Once they do that, their job is done.   They could care less whether or not you know how to market their opportunity.   They could care less whether or not you take the time to read their “million page” e-book.   The only thing they care about is taking your money!  Congratulations. . . you have just successfully been scammed.   That is the TRUE meaning behind the phrase “get rich quick. “  You don’t get rich quick, THEY DO!

Sounds familiar doesn’t it?  Of course it does.   This sort of thing happens every day to millions of unsuspecting people trying to make a living for themselves.   To be honest, it’s quite the lucrative business practice.   If I knew how to be a cold hearted, money hungry, ignorant scam artist the I’D dream up some masterful plan to scam innocent people.   But frankly, that’s just now me.   I’d rather work hard, smart, and honest.

So please, don’t get sucked in by another scam artist.   Stop wasting your time and money on e-books that are so lengthy and confusing that you have to keep reading them over and over again just to get the picture.   Stop getting left out in the cold and start a REAL Home Business!

A real Home Business requires several things:

Think of a Home Business as a fast food franchise opening up a new store.   What does that franchise need in order to accomplish this?  They need money.   They need to pay to have the new store build or they need to pay rental fees or remodeling fees.   They need to pay for equipment and supplies, and they need to pay employees to run the new store.

This same principal holds true with a Home Business.   In order for it to be successful, it will require you to invest your time and money.   Your investment will pay for products and services needed to successfully run your business.   It will also pay for advertising and marketing so other people can purchase those products and services from you.

A real Home Business also requires duplication.   Lets go back to the fast food store for a second.   So they’ve opened the new store .   It looks exactly like every other one of its kind.   They provide the same options and benefits as ever other store EXCEPT for one thing.   This particular store is only open on the weekends.   Now how successful do you think this store is going to be?  They are only open 2 days a week unlike the other stores which are open 7.   Do you think they are going to be as productive and profitable?  Probably not!  Here’s why.

Even though the new that there was already a system in place that was GUARANTEED to work, that was PR OVEN to be profitable, they decided for some reason to try something else.   They thought by doing something different and their way, it would be more productive.   Does that make any sense?

Duplication is by far the most powerful tool that make a Home Business successful.   All you have to do is follow the step by step system that other successful Home Business owners are already doing.   Their system works, they make money with it, they know what they are doing, all you have to do is copy it.   That’s it!  It can’t get any easier than that!

So what now?  How do I get started?

The answer is simple. . . I have a system in place that makes me a successful Home Business owner and all you have to do is “duplicate” what I am doing.   Starting you own Home Business is easy and can be very profitable if you have a system that works.   Well now you do; MINE!  That being said, let me introduce you to the “Rags 2 Riches System. ”

This system was developed by Chad Rissanen, a very successful Home Business owner who discovered a way to make an incredible income from home.   His system can be accessed 100% FREE of charge by clicking the link at the bottom of this article.   Once you fill out the form on his website, you will get instant access to his incredible system for FREE.   He walks you through the system step by step, with audio commentary, how to set up and start you OWN Home Business simply by copying what he is doing.   There is a small investment involved to get everything up and running but I can tell you its far less than what those Internet Gurus are charging for their services.

So, if you’re ready to start your own business then I STRONGLY suggest you visit the link below.   You could have your new Home Business up and running in a few short hours.   DON’T DELAY. . . get started now and I’ll see you at the top!

Regards,

Dustin Kratochwill

A successful Internet Marketer

PS:  Did you know that almost 90% of Home Business failures are do to the fact that most people FAILED to act?!  They simply got scared and ran away because things got to hard or complicated.   Don’t be one of those people.   This system is PROVEN to work and all you have to do is copy it!  How much easier can it get?

CLICK HERE to get started on the road to success!

Social networking websites is an on-going trend in the Internet. These sites allow people to connect with their old friends and acquaintances and even make new ones.   They have great numbers of audiences and receive probably millions of hits every day.

Since social networking websites became a trend, it likewise became a new medium for marketing and make money being online.   People who constantly visit these social networking websites are made aware of products and services. In this case, Facebook is the social networking site used to market goods and services.   This site is primarily visited by students particularly those in high school and college.

Facebook marketing is probably most effective if you market products that cater to high school and college students. Since everything is just a click away, interested students can learn more about the product in no time.   This is the best site to include in your marketing plan if your target markets fall under the said demographic. It is very much accessible to them as majority of todayâ??s students are Internet users as well and will open horizons for you to make money being online.

For the part of the marketer, it pays if the copy and layout published in Facebook is appealing to the demographic. Make sure that the copy is both informative and interesting. It should be sufficient to state the general information of the service or product and a unique selling proposition. A copy possessing both characteristics will stir the interest of the readers and will encourage them to try the product.

In summation, the success of Facebook marketing depends not only in the positioning but also in the substance of the copy presented. But if it is used in a better way then it could be a good way to make money being online.

Don’t let anyone fool you. Home-based niche marketing on the Internet is work. Anyone who tells you different either doesn’t know enough about it to comment, or wants you to fail. For those who are willing to work, sometimes long days, and even nights in the beginning, the payoff is phenomenal. So, what is niche marketing, and how do you do it from home with the Internet?

Niche marketing is marketing to a niche. Succinct, huh? What that really means is that you are marketing to a group of people that like or want to purchase a specific type of product. Automobiles are a niche market. A Ford is a sub-niche. A Ford Ranger 4X4 with leather seats and power seats is a micro-niche. Finding a micro-niche, learning what those customers want, and finding a way to help them find the products they want is niche marketing. Internet niche marketing is selling products or information to those customers through online avenues.

Home-based niche marketing requires research, lots of research. You have to understand the market. You have to know what they want. You have to be able to talk to them in their own jargon, and get it right. Nothing will turn a potential customer away faster than an Internet marketer who demonstrates a lack of understanding of what should be common language usage.

You need to know what keywords your potential customers will use when they search for your product online. The more specific your keywords are, the more likely your potential customers will become customers in fact. You need to research to know what products are available to help answer their needs-after you learn what their needs are.

While one of the reasons most people get into Internet marketing is the ability to earn an excellent living (if you do it right), it usually is not the most important reason. The most important reason is to have more time to do the things you want to do, whether that is spending more time with your family, spending more time at the beach, or traveling the world. Working for yourself as a home-based Internet Marketer, you set your own schedule. To make it work, you have to work a plan–it doesn’t just happen. There are no pie-in-the-sky dreams here. BUT, you decide when and even where to work–as long as you have access to the Internet, you can work from anywhere.

Home-based niche marketing on the Internet isn’t new. Internet marketers have been quietly using making-money niche marketing secrets for years–many of them earning more than you probably do. Reports of earnings in five figures. . . per month. . . are not uncommon. Visit Niche Marketing - Make Money at Home to learn more about building your home-based internet marketing career. Wealthy Affiliates can also help you get started, and they can shorten the learning curve everyone goes through when first attempting Internet marketing. Without help, that learning curve is enough to dissuade most would-be Internet marketers, which is why 95% of those who try quit without ever earning a dime. Be one of the 5% who makes it. Click on one of the links above and learn more.

When you’re learning about something new, it’s easy to feel overwhelmed by the sheer amount of relevant information available. This informative article should help you focus on the central points.

Home business Internet marketing has become one of the favorite businesses of stay at home parents. The reason behind this popular choice is that online marketing does not cost as much capital as putting up your own store and keeping inventories. If you are one of those who are contemplating of putting up your own home business Internet marketing and earning a living out of it, it might be good to consider affiliate marketing.

Most affiliate marketing programs does not require you to up capital to sell their products. All you need to have is a website where you can put the logo of the merchants and provide a link to their site. Like all other business be it home business internet marketing or the traditional brick and mortar form of business, there are many challenges you need to contend with in order to succeed and earn good money.

If you find yourself confused by what you’ve read to this point, don’t despair. Everything should be crystal clear by the time you finish.

The first thing that you will need to contend with when you opt to incorporate affiliate marketing in your home business internet marketing is that some merchant sites are rather difficult to navigate. Customers are often turn-off from buying their products because it is difficult to browse through. Often times, merchant sites, which are difficult to navigate, also have complicated payment system that people who do not have the patience to deal with complications may just leave the site without buying at all. You as an online marketer often don’t have any say on the merchants website. The best thing you can do is screen out merchant websites properly before displaying their logo on your own website. It would be best for you to try and navigate your merchant’s website to gauge whether or not a buyer would easily find what eh or she needs. Only provide links for those merchant websites that are user friendly if you hope to sell something and earn a commission.

Another thing that you will need to focus on when you are engaged in home business Internet marketing is that most merchant sites are not very attractive to online shoppers. You will need to market their sites aggressively in you website by providing information to buyers. When you sell the products of your merchant, it would be best to use text link instead of banners. Moreover, relationship marketing is a good tool, which you must use to earn good money in home base internet marketing. The cardinal rule in relationship marketing is that you build a good relationship with your clients and gain their trust. Where a client trusts your judgment, they will be more open to buying the products you are endorsing. Building trust could take a long time but the returns are good ones you have that kind of relationship with your clients.


This article’s coverage of the information is as complete as it can be today. But you should always leave open the possibility that future research could uncover new facts.

Different approaches should be taken when selling products or services to a man when compared to a woman. As they say that men are from mars and women from Venus both of them think very differently and hence, their thinking should be influenced by different methods.

For example, when a man decides to buy a car he looks out for the latest model, speed, mileage, etc. But when a woman goes out to buy a car she will choose a car depending on the color. She would like it match it either with her work dress or accessories like watch and will be concerned whether there is enough space to store her necessities. Because their psychologies differ so much, they should be convinced to buy a product using different methods. Read the rest of this entry »