Wednesday January 29, 2020
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Profits Will Follow If Customer Loyalty Put Forth

They must focus more on delivering customer experiences and building loyalty

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Business, Politics, Investment
Companies must focus more on delivering customer experiences and building loyalty. Pixabay

Advertising professionals are chasing return on investment (ROI) which is a somewhat flawed exercise as they must focus more on delivering customer experiences and building loyalty, a new report said on Wednesday.

On the other hand, said Adobe’s “2019 Digital Trends Advertising in Focus” report, two-thirds (64 per cent) of marketers stated that content and experience management is a top priority — which falls to less than half of advertisers — as they look to build loyalty and lasting customer relationships.

Business, Loyalty, Profits
Your best sales reps have a certain manner of interacting with customers that lead to more sales. Pixabay

“Brands today are required to evoke an emotional connect with their customers while combining it with data-driven marketing in order to tailor experiences that drive value and render a significant competitive advantage,” Sunder Madakshira, Head, Marketing, Adobe India said in a statement.

“Only the businesses who succeed in addressing these evolved requirements of today’s digitally empowered customer across will win in this Customer Experience era,” he added.

For advertising professionals, the biggest priority for almost half of respondents (46 per cent) is to demonstrate Return on Investment (ROI) to the rest of the business.

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This is followed by better audience targeting and segmentation (42 per cent) and improving channel efficiency (40 per cent).

“Nearly a quarter (23 per cent) stated that the most exciting opportunity for 2019 was data-driven marketing that focuses on the individual first,” said the study.

“Creativity and metrics are connected. We need to focus much more on quality and relevance — those are two key words for me this year,” said Mike Klinkhammer, Director of Advertising Sales EU, eBay. (IANS)

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Unit-Linked Insurance Plan- A Perfect Wealth-Building Tool for You

Most of the people prefer to go with these options

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insurance
Nowadays, aggressive insurance plans are being more popular than traditional plans like endowment policies. Pixabay

Savings and investments have become crucial parts of our lives, especially when the inflation and rising costs of living are concerned. Here comes the budgeting to force-fit several costs towards regular needs- from clothing to food, from education to other lifestyle stuff under insurance.

Different Investment Options Available for You

Since money-making is the priority for almost all of us, several investment options are open to getting anticipated returns from. The aim behind investments is nothing but to get higher returns as quickly as possible. Here, risk appetite also plays an important role. A general perception towards higher returns is that the risk is even higher. Usually, non-financial investments such as gold and properties are considered for a safer side, often when you do not need recurring cash-inflows. The rest, you can go with financial investment avenues such as- 

  • Mutual Funds- Usually, you have two options while investing under mutual funds as equities and debts. Equities give higher returns at high risk, whereas debts are considered as low-risk investments offering lower returns. 
  • Direct Equities- In simple words, stocks. Highly volatile assets, which may or may not give you sizeable returns. 
  • National Pension Scheme- the Pension Fund Regulatory and Development Authority of India has introduced NPS, where returns up to 11% can be gained with the minimum contribution of Rs.1000. 
  • Public Provident Fund- With the longer tenure of 15 years and tax-free investments, it is the safest investment among all, offered by the government.  
  • Bank FDs- Most favored form of investment where you have a choice of receiving interest on your investments on a yearly, half-yearly, quarterly or monthly basis. 
  • Senior Citizen’s Savings Scheme- A retirement scheme after the 60s of the age, you get invested with the interest rate of around 8.3% for the tenure of 5 years, and the capping of Rs.15 Lakhs. 

Most of the people prefer to go with these options. However, hardly a few of us analyze how much exactly do we spend and on what. The ‘must-have’ list starts with the life insurance on top of all; the investment part comes second. Why so?

Insurance
Savings and investments have become crucial parts of our lives, especially when the inflation and rising costs of living are concerned. Here comes the budgeting to force-fit several costs towards regular needs- from clothing to food, from education to other lifestyle stuff under insurance. Pixabay

You need at least one life insurance policy if you really care for your loved ones’ future. Have you ever thought of getting both the benefits of life insurance coverage and investment at a single host? Well, savings and investment plans make this better for you. 

Nowadays, aggressive investment plans are being more popular than traditional plans like endowment policies. Yes, we are talking about a ULIP policy.

Unit Linked Insurance Plans

A type of life insurance, Unit Linked Insurance Plan, helps you get a sizeable corpus at the end of the tenure along with adequate sum assured. In case of any uncertainty such as the demise of the insured, the company pays the full sum assured to the beneficiaries along with accrued corpus if any. Else, at the end of the tenure, you get maturity benefits as defined at the commencement of the policy.  

Though ULIPs offer a similar rate of return as that of ELSS or NPS, here you have a double benefit of insurance and investment. Along with life cover in terms of sum assured, here are three fundamental advantages of ULIPs-

  • Greater Returns- When compared to PPF or other investments like bank FDs, ULIPs definitely offer higher returns. The only thing you need to understand is the volatility of the market and the proper choice of funds. Your forecasting skills will help you get even more than what you anticipate. 
  • Flexibility- You can switch between multiple market-linked products such as debts, equities, or even a blend of both. If you feel a particular fund is not performing well, you can switch to another one for better returns. Forecasting can also be made with the help of top-performing ULIP funds.
  • Tax Benefits- ULIP tax-saving instruments help you save your hard-earned money and utilize it for a better cause. ULIP tax benefits can be availed for both premiums paid and maturity benefits under Section 80C and Section 10(10D) of the Income Tax Act respectively. The tax structure in India lets you save up to Rs.1.5 Lakhs per financial year when you invest in ULIPs. 

Bearing in mind the risk appetite and your future financial goals, you can choose to invest in suitable funds. This way, a unit-linked insurance plan becomes a perfect wealth-building tool for you. 

CRISIL Listings for ULIPs

When the most suitable ULIPs in the market are concerned, CRISIL enlists two ULIP policies from Edelweiss Tokio on top-most position on their ‘cost and performance evaluation list’. The wealth Secure+ plan helps you stay invested for a long-term to gain sizeable corpus whereas the Wealth Ultima plan is a systematic monthly plan. 

Edelweiss Tokio Life – Wealth Secure+

  1. Low premiums as just Rs.1000 per month
  2. Lock-in period of 5 years with lifetime coverage of up to 99 years of your age
  3. 3 different plan options
  4. Loyalty bonuses and maturity additions
  5. 5 Pay 5 Stay option for short term investment
  6. 7 different funds to choose from
  7. Tax benefits
Money, Savings, Piggy, White, Saving Money
A type of life insurance, Unit Linked Insurance Plan, helps you get a sizeable corpus at the end of the tenure along with adequate sum assured. In case of any uncertainty such as the demise of the insured, the company pays the full sum assured to the beneficiaries along with accrued corpus if any. Pixabay

Edelweiss Tokio Life – Wealth Ultima

  1. Systematic transfer plan supporting your goals and strategy
  2. Systematic withdrawal from the fund value
  3. Life cover up to 80 years of your age
  4. Policy, guarantee, and booster additions
  5. Little champ benefit for your child
  6. Tax benefits

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To conclude, ULIPs stand to be perfect when you are aiming to gain a sizeable corpus with wealth-building tools. Both the plans mentioned above are available online, and you can buy the best suitable one as per your convenience. Fund allocation and all the essentials can also be made online. Thus, stay invested with unit-linked insurance plans and chase your financial goals, effortlessly!