Peter M. Wells Business Group, LLC
1111 N. Marshall Street * Suite 304 * Milwaukee, WI 53202 * 262-347-6091 * petermwells@peterwells.us
September 3, 2014
To:
From:
Business Development Officers, Strategy & Marketing Executives
Peter M. Wells Business Group, LLC (PMWBG)
Attention: Bryan Wells
Introducing:
White Space Marketing Analytics
Peter M. Wells Business Group, LLC (PMW) introduces a truly remarkable, pro-active marketing
research and sales transformation program designed to find the next “big business” initiative your
firm can immediately implement to dramatically turn around or otherwise accelerate any sagging
business. Called “White Space Marketing Analytics,” companies like yours become leaders in any
market by isolating a major business opportunity others missed before, then developing game
changing innovation to make it happen.
99% of the things we work on happen!
Executive
Summary –
White
Space
Marketing:
Our approach is designed to find the next frontier of client earnings upside incorporating disruptive
innovation and a transformative sales approach that leaves the competition in the dust. Through its
regiment, businesses of all sizes undergo market transformation often moving from lethargic market
followers to industry thought leaders that bring the next level of “decisive” business opportunity to
their customers to consistently accelerate growth, delivers game changing innovation, enhance
competitive advantage and improves institutional value.
With more than 14 technical innovations to our name, PMWBG is noted for
changing the way entire industries perform to the advantage of our clients.
“White Space Marketing Analytics” has helped hundreds of companies develop billions of dollar in
new sustainable revenues and dominant market position. It happens by using our unique research
approach to study the P&L of the white space of markets served to find holes no one saw before, then
create systems and methodologies to fill them. The outcome is new market position, exciting business
solutions that are tangible, and measurable earning upside that accelerate growth. The steps PMWBG
executives utilize include . . .
1. Industry P&L opportunity modeling and “what if” analysis.
2. Alignment analytics for ideal market conditions.
3. Identification of tangible deliverables that change the landscape.
4. Winning business plan and transformation strategy.
5. P&L Analytics and Pro Forma that prove the case to customers.
6. Innovation design, development and testing.
7. Sales transformation initiative.
8. Plan implementation and launch.
9. Success monitoring and refinements.
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Companies like Microsoft, Apple and IBM were conceived through use of the revolutionary principles
we discuss. White space marketing offers the largest most immediate upside value to any business
simply because it finds the hole that contains the next major growth advantage. Knowing how to look
for and take advantage of the white space P&L hole is how to uncover vast new earnings upside that
make companies a decisive force in the 21st century marketplace.
To learn more or to engage PMWBG, please contact…
Bryan Wells
262-47-6091
Your Next
Game
Changing
Business
Advantage:
Over 12 times in the past 15 years alone, Peter M Wells Business group business development
professionals have found multi-billion dollar upside opportunities in major industries no one knew
existed before. Once isolated, our experts then helped the firms we work with earn nearly 10
billion dollars in new, sustainable earnings even in the worst economic times.
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The next generation of customer care and marketing systems will also come with MARKET IMAGE
technologies like those from Peter M. Wells Business Group that include already constructed, web-enabled
solutions that plug into the claims or underwriting operating systems, CRM programs or phone log systems to
then monitor communication and provide continuous feedback on relevant communications insurers will use to
accelerated competitive advantage.
Using the same advanced technologies the intelligence industry relies on, recorded calls and internet
communications are monitored in unique ways for key word associations, sensitivity, messaging and attitude.
Workplace practices that work for you are able to be replicated and challenges that diminish reputation can be
eliminated. Through continuous feedback, goal setting and training, the great performance of insurance
companies interacting with clients accelerates, along with excitement about the business that leads to more new
sales, referrals, testimonials andretention. Now insurance providers know what drives such things as J.D.
Powers’ scores as events unfold so they can pro-actively take action.
It’s not speculation any longer and marketing dollars are spent wisely using valuable new
information.
Insurance companies that implement MARKET IMAGE technologies from PMW gain real financial advantages
that make business immediately more profitable . . .
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At least 6% improved retention ratios per line of business.
Millions in recurring revenues otherwise lost (industry average improves by $225M per year).1
Millions in new word-of-mouth revenues that recur each year.
Doubling profits in 5 years even in a down market and with no new sales.2
10% savings to the operating budget since companies don’t replaceas much lost business.
Positive impact on the operating ratio when underwriting expense drops 10%.
It is a given that a high correlation exists between a consumers view of theinsurance companies they do business
with and that customer’s willingness to buy from thecompany again, not to mention recommend thefirm to
others (Forrester: March 26,2012). As well, the higher the degree of mutual trust and perceived advantage by
the customer, the less likely that customer will defect.
Gaining
Improved
Market
Position:
A Modern
3 Part
Web-based
Solution:
MARKET IMAGE technology supports this proven opportunity statement. P&C companies have anywhere
from an 8% to 16% retention loss for auto business each year while homeowners writers have seen substantially
more on average. Considering the challenges to the industry from the banking debacle ongoing since 2007, the
foreclosure problem and the high rate of unemployment, the numbers of new policy opportunities has been off
dramatically. Better management of the current customer base reinforces the success and safety of the current
book of business, and satisfied customers will give manynew sales opportunities carriers need to increase
earnings and strengthen profitability.
Satisfied insurance customers deliver some of the highest testimonials and reference quotients (Forrester, March
26, 2012), and theP&C industry reports an average $225M in new sales upside when consumers are satisfied,
and $203M in average lost revenues when retention churn ratiosaccelerate. Therefore getting under the hood of
the customer’s thinking about their insurance provider, its employees, itsproducts and services pays high
dividends.
Market analyst Lynn Thomas provides these additional insights (Customer Loyalty and Retention Primer 2010)
...
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The insurance industry has the highest customer acquisition costs of any industry so replacing
business is costly.
It costs seven to nine times more to attract a new customer than to retain one.
Forrester - 2012
Thomas, Lynn, 2012
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A very strong correlation exists between high retention rates and sustainable high profits.
Reducing defections by as little as 2% per year is equivalent to cutting costs by over 10%.
Sustaining a 5% improvement in customer retention can double profits in five years.
Merely stating a customer is satisfied does not correlate to the customer staying with you.
Customer retention trumps sales every day since the majority of insurers never grow more than a few percentage
points annually. Recovering sales costs takes years to achievemaking support for maintainingthe existing book
of business one of the most important strategies for success.
Since retention really happens in the front lines where policyholders interact with the people chosen to protect
their major assets, more than ever the industry needs new and comprehensive information tools and insights to
make sure policyholders are onboard and prospects are eager.
MARKET IMAGE technologies make this a reality – perspective and insight that is measurable and actionable
does finally occur.Three primary deliverables are provided:
1.
Business ACCENT Technology: Web enabled system that plugs into the company underwriting,
claims, CRM, phone monitoring system or other related system(s) that actually in a friendly and informative
way monitor the approaches, attitudes, correspondence, language and presentation of employee interaction
with policyholders. Reports are generated as often as the next day (or within 24 hours) and can be isolated
from any location or desk. Then, through immediate feedback analytics, business leaders will have a clear
understanding of how communications was or was not effective or may require replication, remediation or
training.
2.
ACCENT Analytics & Consulting: PMW provides customers withcontinuous reporting and analysis
of how their company performs interacting with prospects and customers using daily findings of the
Business ACCENT system. Goals are established for departments, offices and individualsthat are real and
tangible from live feedback isolated in the ACCENT program. Companies also set performance and
financial goals that can be measured and achieved through review of the system findings.
3. ACCENT Interactive Marketing: Realization of market success and the overall corporate mission to
Getting
Started:
be the insurance provider of choice is most often reflected and supported incustomer contacts,
correspondence and communications. Our marketing support programs help carriers better achieve winning
notoriety and position against competition since these systems help your staff give direct to the consumer
presentations and responses that are not sterile e-mails, exhausting web site look ups or lackluster
conversation. For example in an auto loss scenario, using our quick release web video programs, customers
learn in seconds which adjusters are handling their claims since a short introductory video is sent via e-mail
that actually introduces the adjuster personally, gives a brief introduction about the person, the company
and the process and reinforces face-to-face the companies commitment and concern. WOW! This is just the
tip of the new service interaction tools provided . . . there is so much more.
The systems from PMW are all web-enabled technologies with consulting support to help you implement and
succeed. Now with MARKET IMAGE technologies, companies not only understand in advance why customer
ratings are the way they are, but anticipate higher J D Powers and other scores.
To learn how your firm can access this market innovation technology, contact
Robert Caramanno
267-614-2500
rtcaramanno@comcast.net
or
Peter M Wells Business Group
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petermwells@peterwells.us
262-347-6091
ABOUT
Peter M.
Wells
Business
Group:
About Us
_______________________________________________________________________
Peter M. Wells Business Group, LLC, with offices in Milwaukee, WI is a business development consulting firm
focused on the financial services industries of insurance and banking and other select markets. Our mission is
delivering alternative earnings upside and increased shareholder value through development of game changing
innovation and business transformation strategies no one saw before. Improved business valuation is conceived
uniquely and delivered through INNOVATION, decisive business STRATEGIES, value-based SALES
TRANSFORMATION and insightful competitive ALIGNMENT with markets served. Programs we develop
often change the landscape of how business is done.
Contact Peter. Wells Business Group at petermwells@peterwells.us or phone 262-347-6091 or 267-614-2500.
Our website – www.peterwells.us
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