As business owners, we all want to grow our companies. We want to close new business with more sales. And it turns out, there’s a clearly identified group of prospects that are as much as 12 times more likely to buy from you. Who are these hot prospects? Simple: people who have bought from you in the past.
And it gets even better - a sale from an existing customers costs 1/5th the amount of a new customer, in terms of time and advertising dollars.
So why not look at your existing client base to make more sales?
Take the time to review the type of policies your clients have purchased and during what time of year they are reaching out to you. Look for gaps in products that you think would benefit them and they could be buying from you.
You may think your customers know all the insurance products that you sell. In actuality they probably don’t. If you simply ask the question, “Are you buying all the insurance products you could be buying from me?” you are asking your customers to know all the products you sell.
As you meet or talk with every customer it’s your job to discuss the suite of insurance products you sell to determine if, in fact, they use those products. Group your products into tags so you can clearly explain them. As an insurance agent it’s easy to group products by tags such as health, Medicare, life insurance, travel, supplemental health insurance, property and casualty. Then ask your clients if they need to these types of insurance products. Maybe it’s also time for them to review what they have to upgrade to a different product because a change in status. We all know that there are all sorts of reasons for adding or changing insurance products.
Your existing customers already know you and trust you; you’ve already helped them with other insurance products. We all want new clients, but sometime your existing customers are the easiest prospects for quickly adding more sales on the books now.