10 Insider Tips Every Insurance Broker Should Know About Sales
Selling insurance is always a big deal. If you have a bunch of prospective leads and that marketing tune, then business conversions are always on the cards. But unfortunately, things won’t always go as sweet as we think. Being an aggressive insurance broker, you have to follow certain practices in order to keep up the pace with other existing players
That’s why insurance brokers are very much into strategy development for increasing their sales potential. They are in search of the most proactive and practical solutions that can be implemented for selling high volumes of policies. The core result they urge to have is sustainability and business continuation for a prolonged period. So, being an insurance broker, if you are thinking of winning some new businesses and becoming successful in what you do, then there are a couple of actionable items that you needed to be taken care of.
This article will enlighten you with the major groundbreaking tips that will help you to win new brokerage businesses and thus effectively escalate your insurance sales margin.
The strategies will also definitely help to take your insurance broking career to the next level and acquire eminent skills and characters that will eventually mold you into the most successful insurance broker you have ever come across.
#1: Focus on your digital identity
As we see, digital transformations are happening in a blink of an eye. Now everything has gone DIGITAL. Being a futuristic insurance professional, you have to focus on polishing and nurturing your digital identity and make sure you mark your digital presence as you progress.
Having a user-friendly website is one of the foremost things. Nowadays quality websites are replacing your physical storefronts. People tend to goggle more to know about you rather than tying their shoelaces to pay a direct visit to your office. This is one of the most radical changes bought by ourselves as a result of this Covid outbreak.
Having a professional website will bring you customers, but for winning them and shaking hands you need the help of a quality insurance broker software. People trust the business processes that are automated instead of manual. If they are having a gut feeling that the one they are approaching is doing the business with the help of one of the top-rated insurance broker software, the chances of winning insurance businesses are on the high.
These are the major pillar for building a digital identity for your insurance broking business. So it is very important to focus more on your business’s digital identity to exist in the modern insurance market scenario.
#2: Shifting your sales energy to social media platforms
YES, we have already talked about the importance of having a digital identity. Well, that’s the basics actually
If you want to take your policy selling to the next level, social media marketing is the key. Whether you like it or not, social media platforms are the most important platform where you can market your insurance products and services with guaranteed results. It’s time to understand and explore the possibilities of social media marketing and how it can be a perfect tool for exploring new business possibilities and acquiring new clients.
Considering the latest business model, a LinkedIn profile is a must if you are having a B2B business. Facebook is another unavoidable platform where you will have an ocean of customers provided you have that consistency and professionalism in managing your social media accounts and posts. Try creating quality content that matches your industry/business as well as interests the potential customers. You might be surprised by the results these options can bring you.
#3: Building potential connections
If you are successful in all the above actionable items, then building connections will become a simple task for you. People will start approaching you without having a second thought. The connections will not only bring you more and more businesses but also new prospective clients that you can make of them in the future.
This is also applicable in partnering with the best insurers. This will not only build a strong foundation for your insurance broking business but also helps you to shape your target audience.
#4: Walk with your customer, but the path you have chosen
Make them feel that you always give enough priority to taking care of your prospects’ queries and solving them as soon as you can. Even if you need something to escalate, make sure you have the rope and your prospects get what he wants. So always try to be an instantaneous professional. It is not as easy as it seems. You need to be crystal clear in what you offer. Guide them through the best offers that you can provide. Make them understand that what is best for them is actually what you offer.
#5: Acknowledge the importance of time
Time is the key. It doesn’t wait for anybody. You may lose a prospective customer just because of a fraction of a second. The sooner you approach; the chances of business conversions are high. This is something very important. You may feel that you have everything in your mind even after the meeting. But on a given day, if you have to visit multiple clients who follow the same response pattern, sometimes you may feel confused about their requirements and comments. This will make your follow-up plan difficult.
So you have to prioritize your appointments, discussions, claims, policy renewals, and everything in such a way that things are processed smoothly in an orderly manner.
Thus you can organize and track every stages of a policy; from prospects and renewal follow-ups, preparation of RFQs and quote comparisons, to collecting payments, and delivering policies to customers in order, their endorsements, and a lot more. When this becomes a practice and you follow a consistent and credible business pattern, you will see the increase in flow of prospects and more business conversions.
