I see it from agents time and time again. They're not maximizing their current client list by cross-selling to them.
How much money are you losing out on by not rounding out accounts? And, how can you go after that business without exhausting your agency's resources?
Email marketing can be your ally when it comes to cross-selling. After all, the average return on investment for email marketing is $38 for every $1 spent.
It is easier to get new sales from existing clients because they already know and trust you. Email marketing is a great way to use your current resources. Simply create a drip campaign that markets a new line of business to your existing clients.
Get Your List Together
The first thing you'll need to do is compile a list to send your cross-sell emails to. Use the cross-sell reports in your agency management system to identify mono-line clients.
Keep in mind you'll need a process to remove contacts from the list as they convert. If you don't remove them, they'll still get what are now irrelevant emails. And, that's how you get unsubscribes.
Some marketing systems can help with this process. For example, our agency marketing system can sort your contacts. It can determine the correct people to email. Plus, it can remove them from distribution as they become clients.
What to Say
Next, compose a series of emails aimed at those clients.
Keep in mind what group you're emailing. For example, messages to renters should be different than messages to homeowners.
Start your campaign with a reminder of why your clients do business with you. Show appreciation of the business they've already given you.
A short line like the following shows you're thankful for your existing relationship.
'We want to thank you for your business and your continued trust in us for your insurance needs.'
Then, naturally move the conversation toward the other products you offer.
'We stand behind the products and services we provide as the very best. That's why we want to make sure you are taking full advantage of them.'
How Often to Say It
Stop to consider the number of mailings you want to send and how often. Sending emails too often can turn your contacts off to your emails as a whole.
But, sending too few may not bring home your message or create value for your clients.
Consider your sales cycle. Auto policies are quick to close, but life policies usually take months of consideration. Space out your drip emails accordingly.
Keep an Eye on It
Finally, make sure you track your email metrics!
Pull the contacts who have been opening your emails but haven't followed up with you yet. Consider them hot leads. Call them, and put a personal touch on your campaign. You might just close the sale!
Email marketing is not only for your prospects and leads.
A well-executed campaign to your existing clients can cement your relationship. Especially when they add additional lines of business. It can also add to the trust they already have in your agency.
Not ready to launch a full cross-sell drip campaign yet? Consider adding a blurb in your newsletter to remind your contacts of the many products you offer.
About the Author
As an AgencyBuzz coordinator, Malika James helps insurance agents create emails and drip campaigns that foster genuine and organic relationships between agents and their contacts. It is her prevailing belief that the more human emails are, the more people become attached to the agents that serve them. Malika has a bachelor’s degree from the University of Pittsburgh. A big dog lover, Malika also enjoys creative writing and live music.More Content by Malika James