Retention, recommendations, and reviews are the three R’s that any insurance agency should fight to achieve. Your agency cannot bloom to its greatest potential without properly “watering” and tending to each area.
How are you taking care of your retention needs? Are your clients staying with you for the long run? As the person they turn to when any of their assets are compromised, you should know that small boosts in your client relationships will turn into long-term profit.
Typically, insurance agents are only contacted by customers when they have a potential claim. More frequent contact can develop relationships, build trust, and dissuade them from going to someone else for their insurance needs. All of which will lead to an increase in long-term profit. A great example of a program that benefits client retention is our concierge program, which you’ll learn more about when you schedule a demo with us.
Do you remember when TOMS Shoes boomed? Have you ever wondered why they became so successful? As many of you might already know, TOMS matches every pair of shoes purchased with a donated pair for a child in need. This is a clear example of how a brand becomes more attractive to clients when doing good for the community.
When it comes to recommendations, what do they gain from providing you with a name? Think about it – if you are not offering anything in return, they are merely losing time. That’s why we found that the best way to get to clients and put some good into the world is by offering someone beneficial for the community in exchange.
Google reviews are such an essential factor to ANY businesses’ success today. Someone taking a peek at your Google reviews before calling in for a quote is most likely a daily occurrence. We tend to believe others when they have an opinion about a business, and that’s why a business’s credibility increases with their amount of reviews.
There are many ways in which to increase reviews, but the same principle that we mentioned before, applies here. You have to make it beneficial for your clients. The reason behind this is that they will most likely only leave a review if they had an outstandingly excellent or awful experience, and even though we have to aim to provide excellent service 100% of the time, it might not be the case. So, when they have a good experience but don’t feel impulsed to give you a Google review, you can offer something that will benefit them in exchange!
There are multiple ways to tend to your three R’s. It’s all about treating them like flowers and asking yourself, “What is it that they need to bloom? More water? More sunlight? Fertilizer?”. If you don’t stop and think about what you could do better in your agency to increase retention, recommendations, and reviews, they will wilt.