One of the most important parts of running an agency is building relationships. That’s because it is cheaper and easier to keep customers rather than to find new business.
Cross-selling your current customers may generate bigger profits in the long run as well. The fact is, it costs five times more to attract a new customer than to retain an existing customer. It’s easy to use email to connect with and cross-sell customers with renewal campaigns.
Use Email Marketing to Focus on Your Existing Client Base
Today, you will be hard pressed to reach a client by phone, let alone in person. The next best thing is cost effective and convenient for you and your client as well. It’s email.
You can create a single email to remind clients it’s time to renew. Or, you can create campaigns which reach clients at predetermined times. This way, clients can be sure about exactly where they stand in their policy timeline.
For example, let’s say a client’s policy is about to expire in 60 days. This will trigger an email to your client with the appropriate reminder. You can set up follow up emails, too. As the critical time approaches, your client may reach out to you first.
Cross-Selling Using Email Marketing
Another way to keep clients is to use an email campaign to cross-sell policies. Your clients may have different policies with different agents, depending on how they shopped for their insurance.
But, clients are more likely to remain with your agency if you hold more of their business! If a client’s home policy renewal is approaching, the client may be shopping around for an auto policy too.
That is the opportunity to send out a cross-sell email and capture more business from the same client. As every agent knows, bundling policies means big savings for the insured. This, in turn increases your retention rate.
And, don’t forget to get their EFT authorization. Automatic payments also lead higher renewal rates.
Email Campaigns Build Trust and Loyalty With Your Clients
Sending renewal emails puts a spotlight on your agency in your client’s eyes. It builds trust because you are conveying you care about their risks.
Your clients put the safety of their homes, cars, businesses, and families in your hands. So, trust and reassurance are of the utmost importance.
In your email, you can also thank your clients for their continued loyalty. Remind them you are working hard on finding them the best possible quote available on the market. Offer to answer any questions they may have.
Emails can also build relationships between the client and their agent. If a client is unsure about policy, such emails can welcome them into contacting you. Clients are also more likely to refer your agency to friends, family, and colleagues if they trust you as not just an insurance contact, but also a friend.
The bottom line is renewal email campaigns can be beneficial to your clients and you. Your clients get a sense of security knowing their insurance needs are taken care of. As for the agent, you will earn your client’s trust, loyalty, continual business, and referrals.
To learn more about AgencyBuzz, ITC’s agency email marketing system, click here.
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