What will make a difference in 2015? Or, will it be business as usual, more or less?
Given the extremely low interest rates and the on-going regulatory tsunamis, most players find themselves between a rock and a hard place.
Insurance companies are sitting on huge amounts of assets that do not yield any more than for cost and inflation, if at all.
- The Solvency II regulation of the industry are based on tough deadlines.
- There is massive pressure to get data quality and processes right.
- Massive investments are required to cope with the regulatory requirements and unfortunately, there is no chance to get that money back from customers.
- There is very little spare funding left for innovative business ideas.
- Budgets in most financial service firms are squeezed and decision processes are getting more complex and longer than ever.
- Well, you will need to establish a rigid quality control throughout your sales funnel.
- Your upfront marketing budget for lead generation and your costs of sales must be spent wisely.
- Then you must improve the quality and precision of your approach and your win rate, as the number of opportunities are highly likely to continue to decrease.
- If you have not aligned your vocabulary with your customers’ thinking you are in trouble.
- It is not about product features and capabilities; it is about value creation – visible and measurable, on the client’s P&L.
- While some might still argue about discounts on licences prices, the winners have changed the game and are just getting better and better on total cost of ownership.
- While some get stuck on negotiating acceptable daily rates for professional service work, the winning formula might dictate nothing but an alternative deployment model (i.e. SaaS)
- Selling in an environment of continuous and accelerated change does require different and additional skills