Updating Your Agency’s Retro Sales Techniques

May 1, 2019

Rotary phones. VCRs. Floppy discs. It would be silly to think a business owner would use these antiquated technologies. Yet, many insurance agents still use old selling processes and techniques. ITC Vice President of Sales Don Hobdy explains how your agency can sell to the modern insurance buyer.

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Video Transcript

Rotary phones. VCRs. Floppy discs. These technologies were once part of our lives. Now, they are just pieces of nostalgia. It would be silly to think a business owner would use these antiquated technologies. 

Yet, many insurance agents still use old selling processes and techniques. When you try to sell to the modern insurance buyer, here are some things to remember.

First, stop selling insurance. Whether you sell to a consumer or a business, you’re selling the same thing: You. Selling is not business-to-business, or business-to-consumer. It's human-to-human. Remember the saying "Everyone likes to buy, no one likes to be sold"?  You want to help them buy.  

Also, understanding why someone needs insurance is more valuable than just giving them a price. Every quote should have a discovery process. Quoting should involve more than gathering underwriting information. Use a comparative rater that makes it easier to handle the underwriting. Then, you can focus the conversation on *why* they want a quote. Build the relationship from there.

You don’t want to abandon prospects after the quote or proposal. Keep communicating through text or email. But don't try to sell them. Give them information about insurance that helps them as a consumer. Send information about your agency and the good things you do in the community. 

Also, your website doesn’t have to be an online business card or a digital yellow pages ad. It can do more work for you. According J.D. Power's 2018 U.S. Auto Insurance Study, clients prefer a mix of online and offline methods of communication. Treat your website as an extension of your agency. You want a website with a nice design. But, you also need a website with great user experience that also highlights your expertise.
 
Finally, listen to your clients and prospects. Listening is about understanding. In today's market, if you want to understand prospects and clients, you need data. Look beyond your closing percentages and retention rates. Study the types of clients you have higher closing percentages with. And, which carriers you have the best retention with. You want to know why they chose you and why they continue to stay. If they leave, find out what factors other than price contributed to the cancellation.

When you update how you sell, you adapt to the buyer. This can lead to longevity in a changing insurance environment. Not adjusting could make you the 8-track of insurance. 
 

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