by Syndicated Insurance Resources | Dec 20, 2017
Whether you’re a insurance broker or agent, selling is a continual cycle. To sell insurance, you need customers. To get customers, you need to build relationships and network. To build relationships with people, you sometimes feel like you need a degree in psychology.
You really don’t need a degree in marketing. But you do need to know how to build and maintain relationships with customers successfully. Some circles call this common sense, while others call it relationship marketing. Whatever label you put on it, know that anyone can successfully connect with customers and prospects.
If you do this right, you can engender loyalty that will pay off for many years. The pay off can come in the form of referrals, renewals, and genuine friendships that position you well in your community.
It is critical to remember that happy customers become loyal customers. They create repeat business and can bring you their friends, colleagues and business members. Satisfied customers can give positive reviews of your business online, too. In today’s social-driven economy, positive ratings are critical to your success.
Here are some tips for building relationships with clients:
Become a Trusted Resource. Share the most relevant news with your clients. Read the latest industry news and publications. Write articles for publications – both online and print. Keep an up-to-date blog.
Effectively Communicate. Schedule in-person meetings or phone calls. Stay in touch using email and social media to let customers know about changes to the industry and your business. Keep all communications friendly and helpful.
Be Authentic. No one likes the used-car salesman approach. Open and honest relationships with others show them that you are genuine and have their best interest at heart. It also shows that you value the relationship. Cultivate trust and loyalty by consistently being real and authentic.
Reward Loyalty. Everyone loves to feel like they are getting something for their efforts. Sometimes people like to get something for “free.” Invest in gift cards and send them to clients thanking them for their business. When they refer someone to you, acknowledge it with a note and a token of your appreciation.
Remain Visible. Proactively reach out to customers and prospects to let them know you’re thinking of them. Suggest ways you can help them. Don’t be “out of sight.” Ask customers and prospects what you can do for them or how you can help. Asking questions about the client’s potential issues and problems can open dialogue and doors for sales.
Promptly Respond. Excellent customer service and solid customer relationships occur when you make clients feel important. Going dark or being slow to answer calls and emails send a message that they aren’t important. Demonstrate your attentiveness by quickly responding, even if you’re simply acknowledging their message and need to get back with them later.
Building relationships are critical to the success of your business. When you are intentional about how you interact, reach out and follow-up, you are sure to create loyal customers for years to come.
by Syndicated Insurance Resources | Nov 9, 2017
Selling insurance is an art that you have to hone and develop continuously. This occurs by practicing your craft and using a variety of ways to find prospective customers, develop a rapport and showcase the value you bring to them.
Since technology has filled the insurance business landscape with competitiveness, you need to find ways to increase your sales and revenue.
Here are some tips to consider when trying to create and maintain a viable practice:
Listen to Client Conversations. The key is to hone in on the emotions in their words. This can help you uncover your clients’ needs. In doing so, you can tailor the recommendations you make to address their pain points.
Set 90-Day Goals. Annual goals are great but seem a bit lofty. It is hard to measure success and make needed pivots when you’re looking at an entire year. Focus on goals you can achieve within a 90-day time period. You still map out the whole year, but you break it into 90-day chunks that are more manageable. You can easily tweak the upcoming 90-days based on real-time experiences.
Educate about Solutions. Most salespeople are product focused. If you focus on educating about the solutions you offer to solve your prospective client’s needs you’ll create a more engaging conversation that can convert to a sale.
Don’t Be Pushy. Keep in touch with prospects and clients but don’t overdo it. You run the risk of irritating people if you are overly persistent. This can make them reject an offer. Being pushy can get prospective clients to unplug from you and not want to do business with you in the future.
Keep Determined. No matter what happens, never give up. Use your setbacks as learning opportunities. Analyze what occurred and address potential problems. Tweak your process using new strategies. Implement your new approach. Remain committed to meet your goals.
Nurture Your Pipeline. Building relationships can help you close more sales. Connect with contacts on social media. Send personalized, targeted emails. Remember the small things – like birthdays. Set up coffee dates for one-on-one time. Make connections for them by introducing your clients to each other as appropriate.
Make Everyone Feel Important. Give personal attention. Make each client feel like a VIP. Treat them like gold by providing finding ways to offer value and always being available. Let others feel like they are a top priority by focusing on them. Put the smartphone down and look into their eyes. Stop multitasking when you’re on the phone with someone, so they can tell you’re engaged in what they are saying. Find ways to say and show you appreciate them genuinely.
Categorize Your Clients. Some clients need more attention as you develop the relationship while others only require maintenance. By classifying your clients, you can determine which ones need more of your time. This can help you devote your limited resources to those who need it the most.
Commit to Networking. Expand your business by joining a group that meets weekly. This could be a coffee group, an entrepreneurial group, Rotary or Kiwanis. You can find community in person or online through platforms like LinkedIn. Participating in local events can also get your name in front of people in your target market. Regardless of which one you choose, you’ll reap the rewards of the time and energy you put into it.
Leverage Technology. Finding quotes for the right products and services is very time-consuming. Tap into free networks that help do the research for you. When you sign up for a free Syndicated Insurance Resources account, you get access to more than 150 markets and 40+ unique product offerings. You also receive commissions that are higher than others. Using a free tool that saves you time and money? What more could you want? Have questions? Email [email protected] today.
Sharpening your insurance selling skills can help you remain competitive and grow your business. As you know, there are many options to use. Implement the ones that work for you and add to it over time. Remember: Nothing ventured, nothing gained.
by Syndicated Insurance Resources | Oct 17, 2017
These days it is challenging to sell products and services to people.
Your competition is not just the insurance broker down the street. You’re also competing with the wealth of instant information your prospective customers can access on their computers, smartphones, and iPads. With the click of a button, anyone can quickly research reviews and prices for almost anything.
So what can you do to compete and win the business? If you genuinely want to be different, you need to sell on value not price.
Selling value over price can get you a higher caliber of customer that is willing to stick with you for the long run. Studies show that value is the difference between the price you charge and the benefits the customer receives.
Exactly how do you sell the value? Here’s a couple of approaches that may work for you:
Showcase Your Company’s Success. Share how your company stands out. Tell how you’ve helped other clients be successful. Use case studies and testimonials. Feature these stories in your conversations and on your website.
Showcase Your Customer Service. Many competitors don’t offer excellent customer service. They sell the product or service and move onto the next client. Let your customers know that they are important and you’re with them for the long run. Tell stories about how you’ve supported other long-term clients over the years. Be genuine, and let them see that they are more than just a number to you.
Showcase Your Product and Service Benefits. Start by identifying your customer’s fundamental problems. Every customer has unique circumstances that are important to them. If you can readily recount these issues, they will know you’ve really been listening. Then highlight how what you offer solves their problems. The more you focus on the value, the less important the price becomes to them and the decision they are making.
Showcase the Cost Difference. Provide a market analysis and quantify the difference they receive by doing business with you. If your policy is $100 more, divide that by 365 days and show them what they’re getting for only 27 cents more per day. Most agents claim they make a difference until push comes to shove and a client has a claim. Tout your success as an insurance consultant by really analyzing the value and showing the ROI you’re bringing to them up front.
Showcase the Discounts. Everyone loves a discount. The more discounts you can offer, the more incentive people have to do business with you. Be sure you know how to explain why and how they are qualified to receive specific discounts. When they see you know what they are entitled to receive they will understand yet another value of doing business with you.
Remember loyal customers don’t always buy based on the lowest price. Long-term clients— which is what you want for repeat business and future referrals—always buy based on the rapport, relationship and value you bring to them.
by Syndicated Insurance Resources | Oct 16, 2017
You want to be successful in your insurance business. Some agents dive in feet first and cross their fingers as they wish for success. Other brokers make a plan and follow it. With either approach, most of us check the box: project/business launch completed. And we quickly move onto the next thing… Right?! We tend to “set it and forget it,” like a Ron Popeil commercial.
While there may be a handful of people this approach works for, the rest of us typically aren’t as fortunate.
If we want to be successful, we need to continually learn and seek ways to improve our insurance business.
Sure, we all know outlandish brokers and agents who run through life jumping from one shiny object thing to the next. While they appear to be successful, they actually leave a wake of chaos and destruction in their path. (The aftermath of a hurricane comes to mind.)
Shiny-object brokers may experience momentary success, but it isn’t sustainable over the long term.
So how can you beat the odds and establish a foundation to propel your insurance business forward systematically?
From a marketing perspective, we recommend creating a strategic plan that you follow like a roadmap. But let’s say you already have a plan. How do you ensure forward momentum and keep up with the accelerated pace of today?
Here are a few guidelines to consider following:
- Continually Learn. Keep reading, searching and listening. With today’s information highway, the options for learning are limitless. From webinars to podcasts to social media platforms – all you have to do is plug in, absorb, digest and apply what you discover.
- Share What You Learn. Keep posting and sharing relevant nuggets and insights with your customers and prospects. In doing so, you’ll position yourself as a thought leader that is plugged in and paving the way for success.
- Find Ways to Connect. Contrary to popular belief, it isn’t all about you. It is, however, about connecting with others to see how you can help. (As a Rotarian, we call is Service Above Self.) If you seek ways to help others, you’ll learn volumes about what works and what doesn’t work. By contributing to the lives of others, you feed your soul.
- Genuinely Listen. One of the best ways to continually learn is by really plugging in and listening to what others have to say. Intentionally dig beyond the surface and find out what others are passionate about, what keeps them up at night, and how they are achieving their business and life goals.
- Practice Makes Perfect. Anyone who masters a sport, skill or talent continually practices. They stretch and grow by finding new techniques, approaches, and strategies. No matter what you’re trying to achieve, consistently push to find ways to practice and improve.
- Study Others. Whether it is a new marketing technique or a creative tactic you’ve never tried, there is always something to learn. Find best practices and up your game. Study the masters and learn from the experts.
If you want to be successful, you cannot be stagnant. You have to learn new methods, test them and find the ones that work for you. What methods do you use to continually learn?
One way to learn about new markets and unique product offerings is by using our FREE dashboard. When you sign up, you can access more than 150 markets and 40+ unique product offerings, as well as HR Consulting Services to set you apart from your competitors. The tools are free. The commissions are higher. You have everything to gain. Sign Up Today!
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by Syndicated Insurance Resources | Aug 10, 2017
Brokers and agents save time and money by joining Syndicated Insurance Resources…for free. Why? Because we provide you with one point of contact to access multiple programs and carriers. You also get higher-than-average commissions.
Our partnership with Appulate streamlines your ACORD submission process to help you rapidly get competitive pricing and makes you stand out to your employer clients. As a member of Syndicated, you have free access to this easy-to-use tool.
Join us on Aug. 16 or Aug. 31 at 2 p.m. ET for an informative webinar to help you learn how to use Appulate to:
- Reduce form redundancy
- Track submissions
- Upload ACORD data to populate quoting portals (MGA, Brokers & Carriers)
by Syndicated Insurance Resources | Aug 8, 2017
“The squeaky wheel gets the grease.” “Shine your light so bright, and no one will need a telescope to see you.”
“Be the one to stand out in the crowd.” “You’ll never influence others by being like everyone else.”
You’ve heard these sayings. You know they are true. The bottom line is that those who work hard to set themselves apart stand out. But what if you could do that easily with just the click of a button?
Let me ask you… does your agency look like everyone else? Can your customers get the same insurance products from others? What makes you different? How do you stand out in a crowd?
In today’s competitive world there are many ways to differentiate your business. But how do you pick the ways that are right for you?
Syndicated Insurance Resources serves insurance brokers and agents across the nation. We make it easy for you to access more than 150 markets and 40 unique offerings for FREE. No strings attached – just free, automated quotes with higher than normal commissions.
And just recently, we kicked it up a notch by bringing you one more thing to help you stand out in a crowd. You can now offer your clients HR Consulting Services. Our HR Consulting dashboard can help you be more than a broker by offering more benefits to your clients than wannabe competitors.
You can learn more about these HR Consulting Services on our website.
Want to tap into this? Email us at [email protected] today to get the conversation started.
