Tips & Best Practices to Keep Your Book of Business
Communication
To keep a relationship with your client, effective communication is incredibly important. Many times, your clients may have questions they may not have told you until you stay in touch. For example, periodic phone conversations can allow you to provide more solutions to the customer’s needs and are likely to feel more personal with your clients. A good practice would be to call and email after the first 30 days (about a month), then again after 60 days (about 2 months), and then again after 90 days (about 3 months). Apart from phone calls, there are other ways to keep the communication lines open with your customers.
- Social media
- Email newsletters
- Selling multiple products & filling in those gaps
- Local Businesses/Financial & Tax advisor offices/Real Estate
Apart from phone conversations, there are other ways in which you can keep the communication lines open with your customers. Social media and email newsletters are valuable tools for communication. Through social media and email communication, you can always ensure you stay at the forefront of your customer’s minds. Social media allows you to stay connected with your clients through engaging content, likewise with email communication. However, it is important to keep a balance between regular communication and over-communication. Ensure you do not bombard your clients with too much information.
Reach out to local businesses, tax advisors, Property and casualty Insurance companies, financial advisors, and even real estate companies. Make an offer where if they have a client who needs life or health Insurance, they refer them to you and if you have a client who needs any of those services listed above, you refer them back to those businesses. A win-win!
Personalize
Personalization is key to client retention. Ensure the insurance products you present to your clients will meet their exact needs. Personalizing the client’s experience with your agency is also important. This will make them feel valued and encourage customer loyalty. For example, you can celebrate milestones such as birthdays, anniversaries, holidays, and more. Send personalized cards or messages as a token of appreciation during special events. Lastly, give room for a personal connection with your clients. Spend enough time to talk about their needs and goals and how you or your agency can help them achieve these goals.
Categorize Your Clients
There are several types of clients you will have as an insurance agent. Some clients will prove to be valuable eventually. This is why you should categorize existing clients based on the value they bring to your business. This is not only limited to monetary value. Some clients will help you get referrals and offer great reviews. These clients are valuable, and you will need to spend more time with them. On the other hand, there are clients who are always on the lookout for plans from other agencies and are ready to switch, no matter the amount of time and energy you spend. Categorizing your clients will help you spend more time with customers who are valuable to your business.
Fill in the Gaps
Clients who only know one of your insurance products are more likely to cancel their coverage than those who have come to you for multiple types of insurance coverage. Focusing on selling multiple products to your clients will create a positive motive for them to keep coming back and they might even refer you to someone they know. Ensure the insurance products you present to your clients will meet their exact needs. This will make them feel valued and encourage customer loyalty.
- Supplemental Coverage – Fixed indemnity, accidents, critical illness, dental, vision, hearing, and many more.
Market Yourself
Having a professional digital strategy and online reputation is key in a digital world. Your online reputation and digital strategy are most likely the first thing a prospect will see. Here are some popular networks that you can use.
- Google My Business
- Nextdoor
These will help you generate leads and build your reputation. Make sure to have a profile with a correct name, address, phone number, email, and website. If you want to learn more about these platforms, visit the Social Media section of the agent portal.
If you are working with Preferred Advisors, you have access to our agent portal with a plethora of marketing and advertisement tools that you can use for those online platforms.