Relationships Rewarded with Renewals

Everyone in the insurance industry wants to know the easiest and cheapest ways to make more money. We spend money on offers of the "best leads ever." We go to seminars and listen to the big keynote speakers who have made record-breaking sales. I know all this is true because as an agent I did it. We all want to be better at what we do but for some reason we have a hard time remembering the basic fundamentals of good business.

I was recently reading an article where the author pointed out that as a family they all hate going to the dentist, but every 6 months they go back for checkups. Why is that? Is it because of the free toothbrush? Maybe, but I say it's because dentists do a better job of staying in touch with their customers. They send them birthday cards, or an email reminding them how important regular checkups are!

There are too many agents that focus on the sale, and then lose contact with their policyholder. Some agents do not come back to touch base with their customers unless they have something new to sell them. I am 100% in favor for coming back and cross selling, but why not give them a relationship? 

My father, who was one of the best agents I have ever seen, gave either a jar of apple jelly to his clients every year at Christmas time, or a calendar for the upcoming year. He probably had less than $4 in the gifts he gave them, but it was priceless as far as the relationships he was building year in and year out. I would say the average policyholder was spending in excess of $2000, and was getting a gift worth around only $4 back, but it made them feel connected to their agent, Lloyd Sams.

Build your relationship with your customers anytime you get a chance!

  • Send birthday cards
  • Send thank you cards
  • Send congratulation cards
  • Send an email to simply check in with your clients
  • Pick up the phone and call

I can promise you this, if you will build relationships with your policyholders, when the time comes to sell them something else, in most cases they will not hesitate to follow your recommendation. They will also brag about their insurance agent when having lunch or dinner with their friends. Telemarketers and low prices that are advertised on TV or the internet will not affect you and your business if you have invested in building a relationship with your policyholders.

Can you afford not to build relationships?

It's a new year, so start a new policy with your business—if you are not regularly keeping in touch with your customers, START NOW. It's never too late to get better at what you do!

Happy selling!

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