If you closed 30% of your quotes, 70% of the people you deal with fall off your radar.
There could be a number of reasons why an insurance lead didn’t pan out.
- Wrong solution
- Change in circumstance
No matter what the reason, you have already done the hard work and established a relationship.
A simple trick is add the lost deal to a mailing list and send them an subtle email once a quarter or twice a year.
- Make sure you stay top of mind
- Show you are committed
Next time they have a need for insurance or the solution they went with does not pan out, who do you think they will call?
- Keep track of your lost deals
- Email them 2-4 times a year
An effective way to nurture existing clients and acquire new ones is to add value to them.
One of the most simple ways is to create and share useful content.
Unfortunately most brokers in South Africa make use of the same old content provided by insurance companies or their proxies.
The problem with is no one reads it. Why?
- They find them too long and boring.
- It is full of marketing jargon.
- They serve the insurance company not the customer.
Here are four ingredients that make for great insurance content:
- Mobile friendly (Short sentences and paragraphs. Bite-sized information.)
- Great headlines (Write headlines that get people to want your full content even if all they have to go on is that headline.)
- Avoid jargon and gobbledygook (Your mission is to inform and educate, not to confuse.)
- Write for the end client not insurance companies (Create content that will be useful and relevant for people interested in buying insurance products.)
- The best insurance content shared by brokers should educate, inform, convert and not sell.
- Above all the information must add value to your client.
To see an example of the above, click here.
Your personal email signature can provide a serious marketing opportunity and is often ignored.
All emails you send out should include your signature with your relevant contact information like address, phone numbers, website, social media handles etc.
Five people in your brokerage sending out 20 emails a day equals 100 marketing opportunities.
Email signature guidelines:
- Keep it short and simple, ideally five lines or less
- Don’t include important info inside an image (names and contact information) as many email readers do not display them.
- Make your phone numbers clickable so your clients can call you with one click.
- Add hyperlinks to both minimize space and simplify
- Include your name and relevant contact information
- Include all your social media links
- Skip street addresses and irrelevant electronic information
- Use it to market top products
- Include a call-to-action where possible
- Most people will read your mail on their mobile phones
- Your email signature represents you and your company
Referrals for your business are easy and low risk, but many brokers hate asking for them.
The three main reasons insurance brokers don’t get enough referrals:
- They don’t ask
- They lose touch with clients
- Their service doesn’t deserve it
If you solve these three issues referrals will come flooding in.
How to get referrals from your clients:
- Provide great service
- Introduce the idea of referrals
- Ask if clients would be willing to refer others to you
- Provide easy-to-use referral tools
- Share relevant insurance content that educate, inform, convert and up sell
- Create referral rewards
- Focusing on getting referrals is also a form of social currency.
- People like to recommend products and services to help each other.
- Get customers to refer people inadvertently via your useful content.
- Providing great service is key to getting referrals.
Insurance brokers know the potential of cross-selling, but it’s still not easy.
An existing client would be more open to your messages than someone you don’t know.
One of the main reasons cross-selling is ineffective is that clients don’t know what you sell.
- Do your clients know what you are selling apart from their current products?
- Are you selling short-term products to medical aid clients?
- Do your car insurance clients know about your life insurance options?
- How can I let my clients know about products without spamming them?
- There are many different ideas to do cross-selling, but your first step must be creating a one-page flyer that shows all the different products you sell.
How to use your ‘everything we sell sheet’:
- As an introduction during new client on-boarding process
- As a guideline during policy review process
- Use as marketing flyer for all leads
- Publish on your website and distribute via social media and email
- An added bonus is that you’ll get more referrals when all your customers know everything you sell!
- Make it short and easy to read.