Insurance professionals misunderstand the goal of client development. The biggest misconception is that they should focus on hard selling services or products to existing clients.
But this perspective causes you to overlook the real purpose (and benefits) that client development provides to countless businesses in a wide range of industries.
An effective client development strategy serves as the backbone for your long-term success. It increases the lifetime value of each client and enhances the value they get from your insurance services.
The Essentials of Client Development
Client development involves the strategies and tools used to maintain ongoing relationships with clients. It increases the visibility of your insurance firm and reminds clients that you are there to help them meet their needs.
Delivering consistent, relevant, and useful information is a cornerstone of any client development plan. The more you educate your clients, the more likely they’ll be to purchase additional services or products from you in the future.
You position yourself as a reliable resource and an industry leader. This enhances the value of your brand while building trust among your audience.
Client development begins before the sale is made and continues long after it’s been completed.
How Successful Insurance Firms Do Client Development
Creating a strong presence online allows existing and prospective clients to connect with and learn more about your business.
A comprehensive online presence includes your website, social media pages, advertising, videos and webinars, and other assets that demonstrate your expertise and move prospects into the sales process.
Email campaigns and other outreach strategies make it easy to serve your audience while gaining valuable insight into their needs, interests, and goals.
It uncovers hidden opportunities you can leverage through the customization of your insurance services.
In order to have a successful client development program, your entire organization must be on board with its objectives. This is especially true with the team members who engage directly with clients during the sales process.
Creating Your Client Development System
The results you and your firm achieve with your client development must be measured over time. Testing various strategies gives you the clearest indication of what works and what doesn’t.
Your team should discuss the strategies being used to nurture prospects and clients. This gives you the chance to learn from each other so that the entire business grows as a result of your efforts.
Take the time to list the tasks that make up your current client development plan. These include daily, weekly, and monthly tasks. You’ll achieve the results you want. through the consistent application of your plan.
Having a schedule in place ensures that these and other important actions are taken. It also creates the accountability that most insurance firms need to achieve real growth.
Lack of discipline and accountability are the biggest factors in the failure to get the most out of your client relationships. Done right, client development leads to significant boosts in sales without resorting to hard selling tactics.
You prioritize the needs of your clients so that you continue to provide exceptional value while distinguishing yourself as the industry leader that meets all of their insurance needs.