That said, Social Media such as Facebook and LinkedIn are now far more widely used than conventional advertising platforms by ‘smaller’ customers, so focusing our marketing and sales effort on Social Media should, therefore, be very seriously considered.
It must also be recognized that our competitors will be proceeding in a similar manner – on the other hand, if they are not, Our Company will have an immediate, and perhaps decisive, competitive advantage, at least temporarily!
This Outline Proposal constitutes the Executive Summary for a much more extensive document which will set out the detailed requirements for the proposed personal Insurance Risk Management facility, which will be compiled should the Board consent to this project.
In order to address this new market segment, Our Company will need to fundamentally review it’s Customer Relationship Management (CRM) procedures, particularly in view of ‘small client’ purchasers of our products, particularly small business enterprises, sole traders, and individuals.
In addition to this, small business enterprises, sole traders and individuals, lacking even a meaningful fraction of the commercial and financial resources available to our existing corporate clients, will be paying particular attention to a particularly competitive price for our products, which will relief on the ability of Our Company to achieve this in terms of our portfolio of insurance products responding to price reductions offered by our competitors.