November 18, 2015
The following are 5 things that an insurance broker can do to help make their office a high performing sales and retention machine. While it is nice to think that we are all in business to help people with their financial and security needs, the truth is, we are in business to make sales and make money. The two most important things in any insurance office are sales and retention. Make the initial sale and keep the client renewing for many years.
1. Have everyone in your office licensed to sell insurance. Many offices hire receptionists, customer service agents, accountants and others that are not generally licensed to sell insurance. When everyone is licensed, everyone can sell. When someone calls in for a quote, regardless of who is answering the phone, they can be helped with their needs. There is nothing worse than having someone call in for a quote and be told, ‘oh I’m sorry, no one is available to help you’. Insurance is extremely competitive, if a prospect isn’t immediately helped, it is likely they will go someplace else. If someone is not willing to become licensed to sell insurance, they are probably not a good fit for your office.
2. Nothing is more important than having a highly skilled and trained team. Train, train and train again as you are never ‘done’ training your team. When your staff is seen as experts in their field, your clients will come to value and depend on their advice and wisdom. This is a way you can differentiate your agency from others and add value to the insurance shopping experience. When your team makes a recommendation for an upsell or add-on, your clients will be more likely to do it, as they will trust that your team knows what they are doing.
3. Engender an empathetic office. When your team cares about the feelings of their clients, they will connect better and will perform better. Consumers want to do business with companies that treat them as more than just someone that pays the bills. At every interaction your staff should truly express a caring and feeling demeanour. This empathy will translate to more sales and higher retention over time.
4. Motivate/Recognize your staff. When your staff feels valued, they will work harder and be more dedicated to making sales and retaining clients. It is important to recognize when your staff does a good job everyday. A simple thank you, a coffee card or even public recognition will help your staff be happier and will encourage them to perform at a higher level for both new and existing clients.
5. Keep your staff busy. When your staff is busy with calls, they will be energized and will be motivated to make every call count. When your office is slow and your team is not making money, it is harder to keep them in the game. The easiest way to make your phone ring is to use inbound insurance leads. These are qualified callers have expressed interest in receiving an insurance quote and are transferred to your team. All you have to do is answer the phone, quote and write the policy. Inbound insurance leads are purchased on a pay-per-call basis and have one of the highest ROI among insurance marketing programs.
Agent Ethan Kosmin Generated over $200,000 in premiums during first year in business thanks to Contact Concierge.
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