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November 01, 2009 at 08:00 PM
There are only two things that your clients will want to hear from you in 2010: They want to know how you can save them money, and they want to know how you can make them money — and that’s it.
After a brutal 18 months, consumers have become increasingly frugal. Knowing this, it’s crucial that when you reach out to your clients, your message conveys your understanding of their situation. Luckily, you’re perfectly poised to deliver this strategic marketing message of saving money/making money for your clients, and it won’t even put a dent in your marketing budget.
How can you save me money?
It’s a safe bet that each of your clients (even the relatively financially stable) is still concerned with saving money these days. The good news is that by grasping this, you can avoid a lot of wasted time and money on marketing efforts that just won’t resonate. Instead, build a marketing message that will hit the mark this year — namely, how you’re going to save them money.
Consider that a recent study conducted by InTouch Corporation showed that appointment-setting ratios increased substantially when the words “savings” or “discount” were emphasized in calls to agents’ clients. During the time of the study, 20 percent of calls resulted in appointments set when offering only a policy review, versus 33 percent when the call emphasized saving the client money during a policy review.
This means you’ll need to spend time reviewing all of your clients’ policies to look for redundancies, inefficiencies, and non-necessary coverages, and to make sure you’re able to save clients as much money as possible while still keeping them safe from risk. Moreover, identify clients that use multi-line carriers to determine how you can save them money by writing multiple policies for them.
It’s important to note that, although saving money for your client may not help your immediate cash flow, the business model under which you operate is based on long-term retention rates. Even a slight dip in your retention rate will reverberate over the next 5 years and impact your profitability. The practice of aligning yourself with money saving strategies which prevent client defection is brilliant in times like these.
