Whether you've spent decades in the insurance agency or you're just starting out as an agent, it's no secret that finding — and holding onto — great clients can make or break your career. Generating leads can take up the bulk of your week and could ultimately result in no new business despite the work you've poured in.
So how do you ensure you aren't wasting your time when you do begin the conversation with a prospective client? Start by remembering these three tips.
1. Listen Up: Basic Conversation Skills Can Make a Difference in Your Business
A key mistake that green agents make is simply not listening. By diving right into the hard details of your policies too quickly, you can alienate customers.
"It's your job as the agent to get a prospective client feeling comfortable enough to open up," says Jim Schubert, CEO of Southern States Insurance.
"I think where I've seen the most success with our agents and their clients, or the prospective clients, is when they're able to get to a human level as quickly as possible," Schubert advises. "When you're going into a colder relationship, you've got to be able to warm that up quickly, you've got to be able to get them to a point where they're able to be more candid and transparent. And that's when the real partnership starts to develop."
Getting to know customers on a personal level will make you stand out, especially in today's digital age. These types of one-on-one relationships will pave the way for repeat business and make clients feel more comfortable when they need to express any hesitancy or issues.
Matt Snowden, founder of Talanton Insurance, agrees.
"The ability to actually relate to a client, have them feel good about spending money that they don't necessarily want to spend…that is all an art, not a science, and it's really about our people skills," he says. "So we really lean on our people skills first."
2. Know Your Audience — and What They Actually Want
You've likely already heard the advice to "find a niche" within the vast realm of insurance. Beyond sticking to your own niche, make sure that the clients you pursue fall into your subcategory — otherwise you'll be chasing after leads who don't make sense for your business.
"I like to know who they're using today and why they're using them," Snowden explains. "We certainly aren't the big boy in town…so we're really looking for an account where they value what they can get in a boutique experience as opposed to what they get in a large production shop."
Similar to being an expert on the types of policies you offer within your niche, study up on the ideal types of clients who would purchase your products. Learn the ins and outs of their business, so you can speak to their needs when pitching your policies.
If you aren't already, get involved in your local community; it's another way to put names to faces and learn about the area your customer base lives and operates in.
As you learn everything about your niche client base, you'll understand the challenges they face and why they may be reluctant to engage with you, which will ultimately help you sniff out leads that aren't worth pursuing.
"It has to do again with their willingness to express what challenges they're having versus leading with price. It's wanting to have a conversation with us versus just, 'Hey, give me the quote,'" Schubert explains.
"We're looking for clients who want more than just price; we're looking for clients who want at least three policies because we know that those are clients who actually care about protecting what they have versus just trying to fill the minimum requirements."
3. Remember That Only One Person Controls Your Attitude
It's no secret that insurance can be a risky business with many ups and downs. Though many aspects of day-to-day operations are out of your control — from market fluctuations to client personalities — how you respond to tough situations will make you a better agent.
Optimism is a secret weapon that agents should always use, says Snowden.
"Optimism is a prerequisite for both the job of a producer and also as an agency principal, because we are just absolutely facing change," he explains. "Change that's out of our control, change that's disappointing and frustrating on a daily basis."
How you handle difficulties directly impacts how clients react and can foster a positive relationship in the long run.
"If we give them the expectation ahead of time and help guide them through the process, they love you for it," Schubert says. "They're grateful for the fact that you held their hand during something that was a little bit scary."
Your positive attitude will also stand out when it comes to word-of-mouth recommendations, which is key to building new business in a niche industry. A strong reputation isn't something you can generate overnight, which is why it's key to focus on optimism as a core part of your daily work.