Mercer Consumer - Best Use of Technology in Sales
Company: Mercer Consumer, Des Moines, IA
Company Description: Mercer is a global consulting leader in talent, health, retirements and investments. Mercer helps clients around the world advance the health, wealth and performance of their most vital asset—their people. Mercer's 20,500+ employees are based in more than 40 countries. Mercer is a wholly subsidiary of Marsh & McLennan Companies, a global team of professional services companies.
Nomination Category: Sales Awards Achievement Categories
Nomination Sub Category: Best Use of Technology in Sales
Nomination Title: Service-to-Sales
Tell the story about how your organization used technology to improve sales operations, drive sales growth, and/or improve customer satisfaction since the beginning of July 2015 (up to 650 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms. Be sure to mention obstacles overcome, innovations or discoveries made, and outcomes: TEXT REDACTED FOR PUBLICATION
A common tactic in today’s marketing industry is the cross-sell — the act of persuading customers to buy products in addition to the ones they have already purchased. The key to succeeding with a cross-sell initiative lies in accurately identifying and targeting those current customers who might already have a potential interest in another product.
The new Service-to-Sales model has provided Mercer Consumer with a greater insight as to which individuals are more likely to purchase additional products. When a current costumer phones into the Mercer call center to ask about existing coverage, the Call Center Representative (CCR) receives a score file. This helps the CCR determine how likely the customer would be interested in related products, and what those products might be. Because the call center receives thousands of calls each day, Mercer Consumer can implement more customized and personalized marketing strategies to more likely prospects, delivering the right message at the right time.
Since its implementation in 2015, the Service-to-Sales initiative has:
• Added more than 1,000 new policies in 2015;
• Brought in additional revenue, 19% higher than goal;
• Substantially boosted the average transfer sales rate; and
• Increased insured product penetration for clients, solidifying Mercer’s client relationship.
Service-to-Sales was developed out of the realization that Mercer Consumer was missing out on an extraordinary opportunity: to effectively and efficiently cross-sell to existing clients. However, before Service-to-Sales was introduced, it was not viable for a CCR to recommend products for those insureds because of the products’ extensive mix and eligibility requirements. The solution was to build an efficient, data-driven process. Thus, Service-to Sales was born.
The CCR can offer products to the caller and immediately transfer them on to a sales professional for fulfillment. The CCR can also forward the caller’s contact information to a sales professional for a later call back. If the individual is simply not interested, this can be noted, showing additional effort isn’t warranted. By noting whether the customer accepted or rejected the cross-sale and for what reason, Mercer Consumer can identify which products are received well, which offers should be expanded, and if additional call center training is needed.
Service-to-Sales is one example of many creative solutions that separate Mercer Consumer from its competitors as an innovative company that produces results for our clients, while delivering exceptional customer service for their members.