Recently spent almost 3 hours with two of the brighter minds in the insurance industry and I am blown away how far behind some agencies are in today’s marketplace. Don’t risk being one of the casualties. This business is NOT rocket science. Little known secret – a close friend of mine is a rocket scientist. I consulted with Ron a couple of years ago, took his photo and keep it on my phone to share with anyone I am teaching because my friend, the rocket scientist, confirmed this fact – This business is NOT rocket science
KEEP IN TOUCH WITH YOUR CUSTOMERS AND PROSPECTS – ALL OF THE TIME
Here are the Top 10 Reasons to stay in touch and thoughts from the author:
1. Most businesses lose 10-17% of their business every year.
Thought: While I realize this likely does not apply to most of you, you are still losing business. Why? Do you have a relationship with your clients, prospects and COI’s that will stand the test of time and any other forces that might interfere? The easiest money you’ll ever make is the money you are already making (your clients and past clients)
2. 62% of your clients aren’t taking advantage of all of your products or services.
Thought: Again – The easiest money you’ll ever make is the money you are already making (your clients)
3. 91% of our customers say they would give us a referral, but 80% haven’t been encouraged to do so!
Thought: This I do not understand…I am sure everyone on your team is scripted to ask for referrals every time they communicate with someone, don’t they? Each outbound contact includes a “motivator” in every email, outgoing envelope, etc. Everyone on your team is also motivated monetarily to act. Right?
4. Simply saying “thank you” to your customer will increase your business by 17%.
Thought: This one is easy. Every time your team speaks with someone, this is automatic. Isn’t it? And they are writing a minimum of FIVE thank you notes a week. Right?
5. You lose 10% of your influence for every month that you don’t have contact with your client.
Thought: Another no brainer….true? We communicate with our marketplace at least one to two or more times a month (email, newsletter, faxes etc)….don’t we?
6. A 5% increase in customer loyalty could yield 20-80% to your bottom line.
Thought: Ah the Pareto Principle. We build loyalty consistently, especially with our VIP clients, don’t we? For example, we send a special VIP package every month, right?
7. Studies show that an average prospect won’t do business with you until they’ve seen or heard from you
or your message at least 7 times.
Thought: Finally, an easier question…..we have an automated, automatic follow-up system that contacts our prospects a minimum of SEVEN times, in different ways (email, snail mail, fax, voice broadcast, video landing page). Don’t we?
8. 79% of all trade show leads aren’t followed up with. Most business from a trade show comes from the vendor following up with the prospect.
Thought: Ok. Maybe you don’t do trade shows, what about networking events or other social gatherings. We always send a hand-written note saying “good to meet you” etc including credibility boosters….right?
9. 66% of your business within the next year will come from your sphere of influence.
Thought: Opportunity knocking? Well, if we are executing on 1 through 8 above, then maybe this applies.
10. Only 3% of the mail we receive is personal.
Thought: Dare to be different and STAND OUT from the crowd!! If you want to be like everyone else, do what everyone else is doing and get the same ol same ol results.
YOU are in complete control of your destiny.
What is working for you? Why or why not? As marketers, we test. Are you testing consistently?
The above thoughts and comment did attempt to be a bit humorous until I really started thinking about my own team in the “Living Agency Laboratory”….. gotta run, we have work to do!
Last thought: The only time success comes before work is in the dictionary!!
If you have questions regarding this article or if you would like to learn more about the Unstoppable Profit Producer Program, Call 800-770-9984 or Email [email protected].
P.S. Be UNSTOPPABLE!