Insurance Industry Insights: Growing Your Client Base
Every business needs clients. Without clients, we’d be back in kindergarten pretending to work in an office or professional setting. As insurance agents, growing your client base is a little trickier than getting new clients to buy your hot new product. Selling insurance requires trust, and you can’t build trust through an ad in the paper. So, how do you grow your client base as an independent agent?
Nurture your current clients to build trust
You need to take great care of your current clients because these are the people who will refer you to their friends, family, and circle of peers. Make sure you are following through on your customer service promises. Always think two steps ahead of your client’s needs so that they feel like you are really taking care of their insurance needs with their best interest at heart. Following through on your promises to your existing clients will build a strong bond of trust. Hopefully, that trust will result in referrals to your agency.
Potential clients will ask their friends first
Because insurance is personal, it costs money, and it’s confusing to most people outside of the insurance industry, most people will ask their friends and family – people they trust – about how they purchase insurance, and from whom. If you’ve done your job as an independent agent and built long-lasting client relationships based on mutual respect and trust, your clients will be happy to refer your agency to everyone in their circle.
Be a good partner and boss
Your team should love what they do, and they should love working for your agency. Employees who love their job won’t have a problem getting their friends and family on board. Also, since insurance is largely a commission-based business, your producers should be very motivated to reach out to their network to get people to buy insurance from your agency.
Similarly, if you build great working relationships with your vendors and other professionals who cross your path every day, you have another group of people who could potentially get you some referrals and help you grow your client base.
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AAI will be closed Monday, January 2nd, 2017.