Bring new homeowners into the fold with insurance selling strategies that make sense.
A new home signals a significant life change. Whether it’s a first home, a cross-country move, or even a move down the street, when someone buys a new home, they’re in for a new experience. That’s why your insurance selling strategies have to be unique. You can’t approach a new homeowner the same way you approach someone looking for car insurance or someone who’s owned their home for twenty years.
In fact, there are so many variations on home insurance that someone buying a new home can get overwhelmed easily. Do they need flood insurance? What about coverage for jewelry? What’s the difference between liability and property coverage? And insurance is just one of several considerations like an inspection, closing costs, hiring movers, and everything else that comes with buying a new home. Imagine trying to get across New York on the subway system at rush hour – without a map.
That’s really where your insurance selling strategies have to begin. Give clients a place to breathe and think about their options. Make the process easy and streamlined. Be a guide, and you’ll get referrals left and right.
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10 Insurance selling strategies you need to adopt today
1. Act as an advisor
This is the logical extension of approaching your insurance selling strategies as a guide rather than a salesperson. What do your clients need? Can you lay out the options clearly and concisely, along with all the pros and cons of the different policies? Better yet, can you stratify policy options into necessary items, options that would be helpful, but not required, and policy add-ons that wouldn’t enhance a policy at all?
2. Act as a resource
First-time homebuyers and people moving in from out of town need a lot of information. You can be that source of information. Put together a directory that includes things like the nearest hardware store, a quality lawn-care company, a snow removal service, plumbers, electricians, and even the best local restaurants, nearby libraries, or the best outdoor experiences. Work with real estate agents and mortgage brokers to share the information with their clients. When the time comes to get insurance on that new home, you’ll be the first name on their list for a quote.
3. Work with your resources
While you can be a resource for new homeowners, don’t forget that you can cross-promote and get help from your own network. Those real estate agents, mortgage brokers, and loan officers all need somewhere to send their clients for insurance. It might as well be you, right?
4. Promote benefits over features
It doesn’t matter how many features an insurance policy offers. People aren’t buying features; they’re buying benefits. And with insurance, one of the most significant benefits is being taken care of. A tree falls on your roof? No problem. The water heater fails and floods the basement? A sump pump is on the way.
5. Call your prospects
Or if you don’t have prospects, make cold calls to find candidates. In either case, schedule time every week to sit down and make calls. With auto-dialing software, you can make more calls in less time, and increase your productivity, because you can leave messages with the touch of a button while you move on to the next call.
6. Start a blog
As an insurance agent, there’s no shortage of blog topics you can write about. Home repairs, how to heat your home for less, keeping your home cool in the summer, what to look for in a new refrigerator, or even topics like choosing paint colors or hanging drapes and blinds are all within the realm of an insurance blog. Remember, you’re a resource for your clients and potential clients. It’s a great way to position yourself as an expert, and it’s prime marketing.
7. Get social
There’s no reason for an insurance salesperson NOT to be on social media. You don’t have to spend a lot of time there, but post tips and helpful hints for new homeowners. Promote your blog and link to your latest or most helpful blog articles. Share that great story you just read in the news about the benefits of homeownership. And don’t forget to respond to people who comment on your posts. Social media is marketing, but it’s also a customer service channel.
8. Sponsor a youth sports team
This takes the social one step further – out into the neighborhood. If you have the resources, sponsor a local youth sports team. In doing this, you’re contributing to your community, but you are also advertising to people with growing families who might be in the market for a new home.
9. Critique your insurance selling strategies
While there are plenty of ways you can approach your insurance selling strategies, the most effective way to ensure they are working is to look at your data. How many contacts are you making with potential clients? What percentage of those contacts become clients? Could your phone sales be better? Go back and listen to calls to see what’s working and what isn’t.
10. Ask for the sale
While the basis of your approach is to build relationships, at some point, you have to ask for the sale. Don’t jump too early and scare away your prospect, but don’t ignore the fact that you are selling insurance. And if you don’t directly ask for the sale, you may never get it. You might seem uninterested, and your prospect may not take that leap from talking about insurance to buying a policy.
Buying a new home is an exciting time, but it’s also stressful. Anything you can do to remove that stress and offer a service to new homeowners can only benefit you (and them) in the end.
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