Does your agency network need some customer retention help?
Every agent understands that retention is necessary to build and maintain a successful insurance agency. Even small boosts in customer retention will grow long-term profit immensely, as well as improving your reputation. As many insurers realize, it costs more to get new customers than to keep the current ones. If you know the pain of losing more policies than you wrote in a week, it’s time to make some changes.
Your insurance agency network professionals at Advantage Partners Network reveal some of the top strategies in how to boost your customer retention!
Keep in Contact
Don’t harass your clients, but the more times they hear from you throughout the year, the less likely they are to shop around. The key to constant contact through the year is to show that their dollar is valuable. If they are paying a certain amount each month, they want to know (and be reminded!) that they have a professional looking out for them. Whether you send emails, newsletters, surveys, handwritten letters or make phone calls, choose to stay in communication with your clients.
Set Up Automatic Payments
People these days lead busy lives and don’t have time to sit down every month and pay the bills – this is where automatic payments come in handy. When you’re onboarding a new client, offer them an option of autopay and explain why it is so useful. Clients who do set up automatic payments renew their policies at a much higher rate than those who write a check every month; it’s just too convenient to stay and too inconvenient to leave.
Improve Your Customer Service
Focusing too much on the retention strategies when your customer service is lacking is putting the cart before the horse. Choose to ask your clients for feedback about your agency and services so that you can see where your faults lie and where to improve. This will not only strengthen your business as whole, but it’ll allow you to improve your habits to make lasting sales.
Advantage Partners Network is designed to aid your business to achieve greater success. From retention strategies to employee training, we help you to get your business going. Get started by joining us today!! For more information, give us a call.