Competitor Benchmarking
Pricing
Allows clients to compare product pricing against that of competitors through three datasets.- Overall Market Perspective assesses price of specific products versus competitors. We apply consistent test data to ensure accurate comparisons can be made
- Market Dynamic provides trend analysis detailing price fluctuations (on a daily / monthly/ weekly basis) and impact on sales
- Quote Consistency determines consistency of pricing across different platforms and impact on customer conversion
Service
Assesses service offering performance against that of competitors. This allows our clients to determine if they are under or over servicing in comparison to competitors.
- Quotation provides insights on the conversion rate of cold prospects using the client's services or products
- Sales assesses the end-to-end customer experience
Proposition
Provides a run down and review of all the special deals and incentives on offer from the competition
Consumer Attitude and Consumer Behaviour
Buying Behaviour
- Market Share data to understand a client’s market share
- Brand evaluates awareness of client brands, how they are perceived by their customers and the resulting impact on competitive position
- Distribution assessment of distribution channels and how they are adapting to market demands (e.g. Omni-channel); benchmarking against competitor offering
Customer Experience
- Customer Satisfaction benchmarks customer satisfaction against competitors and determines key drivers of satisfaction
- Claim evaluates customer satisfaction of client services when making insurance claims and benchmarks the experience against competitors; provides insights as to how clients can improve services
Customer Journey
- Buying Journey details end-to-end customer journey to buy from clients and compares against the same process of purchasing from competitors; aids clients to optimise the journey and outline lessons learned
- Renewal Journey demonstrates how customers approach renewals and benchmarks against competitors; helps clients to drive increased renewal rates
