Cross-selling insurance is no easy task because people usually want to buy the least amount of insurance as possible for the cheapest price.
There may be times when cross-sales fall right into your lap without you having to lift a finger. Ah, if only it were that easy all the time. Most of the time, however, you have to work hard to make the sale happen. If you want to be successful in your sales technique, here are a few tips on how you can cross-sell more insurance to clients.
- Understand the two types of customers.
Those who already own the product – These people are already buying from a competitor, so you have to move strategically. The key is repetition, good follow-up, knowing expiration dates, and selling the benefits of your agency.
Those who do not own the product – You have to make them aware of your product, educate them on it, and create a need for it. - Each customer has a target product–identify it.
There are at least four products that each of your customers could purchase from you, and there may be even more that your customer does not even know about. You should prioritize your best products to cross-sell each of your clients. Your sales and customer service employees need to know these policies like the back of their hand. - Know expiration dates.
Are we talking about food? No! We are talking about the expiration dates of a client’s insurance policy with a competitor. Before they can renew their policy with that competitor, you can give them a call and tell them why purchasing insurance through you is better than selling with the other guy.
Cross-selling doesn’t have to be as difficult as you make it out to be. Contact Mike Stromsoe’s Unstoppable Profit Producer Program for tips and help on how you can generate new income for your business.