Finding leads is important to the success of any business, but for insurance agents, finding eligible prospects is the key to growing a business and building a good reputation. If you don’t have a steady flow of qualified leads in the pipeline, it’s time to assess your current customer base, address their additional needs and then uncover new qualified prospects.
Assess your current customer inventory.
Whether you’re just starting and only have a handful of loyal clients or you have spent years building a large, comprehensive customer base, the first step in growing your business further is assessing your current inventory of customers.
- What are the demographics of your current customers?
- Is this on track for your business plan or would you like to target different audiences?
- What are your customers’ needs today and what are they likely to need in the future?
- Rate your working relationship with each...how could communication be improved?
The answers to these questions will help you retain customer satisfaction and can point you in the future direction toward business success.
Look for opportunities to expand by up-selling and cross-selling.
Customers who already know and trust you are the ideal prospect for cross-selling or up-selling. If you sell different types of insurance, try to cross-sell by offering special features or discounts. If you can offer money savings to someone who has both their home and auto insurance through you, it’s going to get noticed, especially in today’s economy. Plus you can mention the convenience of having only one agent versus a different one for each policy. If you focus your efforts on one type of insurance, there is ample opportunity to up-sell through riders. Frequently, customers don’t buy add-ons because they don’t understand what they really are. For example, if you sell life insurance, explain why an accidental death rider is important and what situations it applies to – relatable examples speak volumes.
Check out our article about cross-selling your current leads!
Create a steady stream of new, qualified leads.
Uncovering new, qualified prospects is an ongoing effort. You need to find multiple ways to reach out to new clients, constantly assessing which avenues are producing the best results. Outreach through multiple channels is a wise move and requires time, effort and follow-up.
Here are some ideas:
- More and more customers look online to research insurance needs. Ensure you have an online presence. Have an up-to-date website, create a blog, be active on social media sites and research how to optimize your search engine rankings.
- More than 2 million consumers a month provide their details to online lead companies asking to be connected to a local insurance agent to talk about their insurance needs. Find quality lead providers like InsureMe.com or AgentInsider.com who provide a steady stream of qualified insurance leads in your targeted Zip codes.
- Buy an ad in a reputable electronic newsletter or online news site that reaches your target audiences. If an ad is too expensive, consider starting your own newsletter and work diligently on growing your contact list.
- Find a business partner who complements but doesn’t compete with your service offerings and swap contacts. Build an ongoing relationship with the goal of servicing your customers completely.
- Don’t underestimate good old word-of-mouth opportunities. If you have a positive experience with a client, tell him you appreciate his business and are happy to provide the same superior service to his friends and family. Few things are more effective than positive word-of-mouth testimonials – plus it’s free.
Looking for more marketing ideas? Check out these posts!