Should your insurance agency launch a campaign for inactive clients?
From time to time, it’s natural to get some “dead” clients—people who used to have policies with the agency, but for whatever reason, decided not to renew. A certain amount of attrition is just a part of business, so we should just chalk those up as a loss and move on, right? Not even close.
We love to market to people who used to be our clients. As long as the reason they left had nothing to do with something we personally did or said, we’ve found that they will be willing to come back if you make the right moves.
We found another diamond when we started with a large list of people who used to do business with us, and we decided to launch a lost souls campaign. We sent them each a hand-written letter on a yellow piece of paper, and sent it out in an airmail or goldenrod envelope (anything that will stand out).
The letter says:
“I know you left our agency for reasons that were important, and if we did something wrong, I apologize. We want to see if we can make it up to you, and if you are still looking for the best rates, we’d like the opportunity to talk with you again. We have some new carriers who are featuring some exciting programs, and we’d like to make sure that you’re able to take advantage of every one of the discounts that are available to you.”
The overall tone of the letter needs to be apologetic. Make sure that you don’t place any of the blame on them for leaving. Assure them that you know they must have had a good reason.
This area of the marketplace is so vital because it represents an entire group of people who have heard of you and know what you do—and if somebody’s done business with you before, he or she is four times more likely to do business with you again. In some ways, lost souls are almost as strong as referrals. They are already connected to your business in some way. So keep that list of lost souls as an open door for marketing opportunities, reach out to them, keep them in the loop, and communicate with them from time to time to see if you can bring them back into your circle of safety influence. Once again, it’s just one more way to continue to grow your business profitably.
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