What the hotel industry can teach insurance companies about creating brand loyalty
The challenge in today’s competitive landscape is the ability of organizations to build trust, which is the foundation for creating strong brand loyalty. Brands that market intangible benefits such as insurance and investments are challenged with a range of options that offer a lower frequency of purchase and a complexity of choice that can be overwhelming. With the advent of online shopping and the growth of this category as a percentage of total sales, many insurance organizations have rushed to provide a virtual store to sell their services as a means to build market share.
However, a key factor in building a profitable customer base is the ability to create a physical bricks and mortar environment that provides reliability and a sense of security that customers are making the right purchase.
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