The almighty dollar is at least part of what motivates you to get out of bed each morning and try to sell some insurance.
It’s the driving factor.
However, you’re probably also motivated by a desire to help people, too.
Well, your customers are speaking loud and clear, and you may not like what they have to say.
But if you listen closely, you can use the information to change the way you manage your client insurance relationships and ensure that your business sticks around for the next few decades – and thrives.
Here’s what you need to know to drive life insurance sales.
Consumers are speaking, loud and clear
Simply put, consumers are losing their trust in the agent-client relationship faster than a speeding bullet.
While you might cringe at the honest results of a recent Ernst & Young survey, it’s critical that we face facts.
Consumers report low trust in the relationship. The two most important characteristics they want in an insurance producer are:
- Clear and easy-to-understand communication.
- Being easy to deal with.
Takeaway: If you want to build trust with your clients, focus on these two aspects.
Each communication is critical because it happens so little.
Almost half of consumers reported having no interaction with their insurance agent or broker within the past year and a half.
However, 46% increased their coverage when they received a communication and reported the experience as a positive one.
Takeaway: Communication is important in building trust and soliciting action. Don’t be afraid to build a series of messages to interact with clients.
Consumers want to communicate with their insurance agents.
However, they desire messaging that is personalized, meaningful and frequent.
Takeaway: Consumers are telling you exactly what to do: Send messages that are meaningful, frequent and personalized!
Don’t give up on driving life insurance sales
The fact that trust and relationship are at an all-time low doesn’t mean you should throw in the towel.
It is proof, however, that relationships are where it’s at.
That’s where you should sow your seed.
Spend your time nurturing relationships and building trust.
Think of it this way: The majority of your day is probably spent being relational. Talking to clients, prospecting a new list – you get the picture.
Now, imagine the customer’s experience.
How often are they hearing from you? Do you routinely call clients? Do they ever hear your voice? Does your email messaging convey a consistent voice and message?
From the client’s perspective, there may be no relationship. If that’s the case, you need to make some changes.
Even if you feel like you’ve got a pretty good system down, consider taking it up a few notches to drive life insurance sales.
What can you do better? Where can you improve?
If you’re communicating twice a year, can you bump that up to three times – or more?
We saved the best news for last
The Ernst & Young survey also reports, “It’s still very clear that when products are more complex, having that human interaction is still critical to provide guidance. Agents do a great job in moments of truth and are very strong in education, research and maintenance functions.”
It all starts with a strong foundation.
You can have the greatest sales skills.
You could be bringing down the prospecting house.
But without trust – it will all come crumbling down around you.
The agent-client relationship is a currency you should absolutely use to drive life insurance sales, grow your business and establish your presence for the long-term.
How do you repair or encourage trust among your clients?
