The biggest mistake that agents make when trying to sell insurance to millennials is to only focus on selling insurance. Millennials don’t want to listen to your sales pitch, and they don’t want to do business with someone who is only focused on the bottom line. Stop selling insurance, and start selling your brand.
What do you stand for?
Millennials want to feel like they are part of something bigger than themselves. They want to be a part of a movement and feel like they are making a difference. A purchase isn’t just a purchase; it’s a statement about who they are as people, what they stand for, and what they believe in. When you are trying to convince a millennial to invest in a P&C insurance portfolio, don’t focus so much on the insurance, but more on what you stand for as a company and what your brand is all about.
Make a difference
Corporate Social Responsibility (CSR) is more important than ever. CSR defines what you stand for as a company, and how you want to make a difference in the grand scheme of things. We may see millennials as impulsive, but more often than not, they are looking at the long-term impacts of their purchases and where they spend their money. A millennial will be more likely to purchase insurance from your agency if they feel like their purchase is going to help make a difference, either for the environment, the community, the country, or all of the above. CSR will attract millennials who are also looking to support brands and agencies that make a difference.
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