Cross-selling insurance strategies

Cross-selling insurance is a fantastic way to add additional revenue as an agent.

By selecting the correct products for your main product’s demographic, you can attack the book of business you have already built instead of having to prospect other clientele.

And, if you present the additional product correctly, it won’t sound like a sales pitch. It will sound like you’re trying to better protect your client instead of milking them for all they’ve got.

Cross-selling insurance strategies

Approach your current clientele

Look at your current book of business. If you’ve kept good notes on them, you should know their needs very well. Medicare Supplement and Advantage agents could easily be pitching Dental, Vision, and Hearing products to nearly everyone. 61% of the entire population wears glasses and that percentage gets higher the older you get. A Dental, Vision, and Hearing plan could actually save your client money. So, be sure you’re establishing good relationships with your clients and keep a solid profile on them.

Stay in touch

You have a system (hopefully) to attack your leads and new prospects. Why not have one to stay in touch with your current customers? Not only will it help keep them on the books, but you can use that as an avenue for cross-selling insurance products. Even if your current data doesn’t say they don’t need your additional product, that doesn’t mean their needs haven’t changed since the last time you spoke with them.  And just as you wouldn’t give up on your lead after one call (again, hopefully) you shouldn’t give up on a cross-sell after one try. Just be sure you’re always doing what’s in the client’s best interest so you don’t hurt your relationship.

E-mail is your friend

Slip an attempt at a cross-sell in your email marketing nurture campaign. Make sure it’s a valuable one and would match their demographic. It builds awareness that you’re more than a one-trick pony and are there for their changing needs. It could also be a way for them to refer you to friends.

This only works if you are on-point with your needs-analysis

If you want to make cross-selling insurance work (and keep your clients happy in general) you have to be doing a fantastic needs-analysis from the jump. Ask lots and lots of questions about your prospects current policies and needs. Ask them if they know of anything that could change in the near future. Just by casually mentioning your secondary products you could have them reach out to you when those things change. Understanding their situation and their future goals will help your cross-selling efforts tremendously.

If you’re looking for to improve your sales ability, build your agency, or become a better insurance agent in general, you should consider attending our 8% Nation Insurance Wealth Conference. In 2019, strategies for cross-selling insurance and other revenue-increasing ideas were discussed at great length.

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *