The best ways to retain customers employ creativity and sincerity. Are you taking the right steps to retain your customers?
Salespeople from all industries are looking for new and unique ways to retain customers. After all, the easiest kind of customer to make is the one you’ve already made. But retaining customers takes more creativity than it may have once upon a time. Discounted rates and personalized messages are standard today’s marketplace. To create loyal customers, you need more than that. You need to build a connection.
The field of insurance sales is specially equipped for turning connections into repeat business. People need insurance throughout their lives, and the type they need will vary at different stages of life. Build a strong relationship with your customers, and you’ll be their go-to for all things insurance-related for years or even decades.
But building these connections, while not rocket science, isn’t as natural as it may seem. Websites offer dozens of ways to retain customers, most of which have more to do with ethical business practices than anything else. (Being transparent isn’t a retention strategy, it’s an expectation.) The trick isn’t to do the expected but to do the unexpected.
Keeping track of your customers will help you retain them. Schedule a free demo of Call Logic to see what we can do for your business!
Why should you bother finding ways to retain customers when you can just go out and make new ones? There are a few reasons.
Again, it’s easier to sell a product to a customer you already have. Once you establish rapport with someone, you’ve gained their trust, and have a relationship. The groundwork is already there.
Another reason is that current customers are your greatest source of revenue. A study published in the Risk Management and Insurance Review found that in the insurance industry specifically, “greater customer satisfaction leads to reduced expenses and increased profitability.” The study’s authors David M. Pooser and Mark J. Browne surmise that satisfied customers not only stay with their insurance company, but they also refer new customers, thereby reducing customer acquisition expense.
That doesn’t mean you should give up your cold call campaigns. It does, however, mean that the explosion of social media marketing, customer referrals, and word-of-mouth marketing are valuable tools in your sales arsenal.
So, what are some of the most creative ways to retain customers?
5 Ways to retain customers and build relationships that last
1. Have a purpose besides selling.
People are more likely to connect with—and buy from—a business whose mission they share. If your purpose is to sell more insurance policies, you’re probably not going to connect with many people. However, if your mission is to ensure that families and their loved ones have the financial support they need in a time of tragedy, you’ll likely get a whole lot more people listening. Why do you do what you do? A strong, supportive purpose will breed loyalty.
2. Make time for face time.
In a world that always has it’s nose buried deep in a smartphone, customers will appreciate your making time for them. Especially if you haven’t seen or heard from a customer for some time, call to check in or maybe even schedule a lunch or a coffee. Don’t have a selling agenda. Just spend the time finding out how they are and whether their needs are met. This gesture is one of the best ways to retain customers.
3. Educate your clients.
People like to understand things, especially when it involves them spending a large chunk of money investing in their futures. Some insurance agents rely on industry jargon to confuse and intimidate their prospects. Those agents are unlikely to be making connections that will turn into lasting customers (if they turn into customers at all).
One of the better ways to retain customers is to educate them on what you’re selling and how it can benefit them. It goes beyond being transparent. It means giving information not expressly asked for so your customer can feel confident in their knowledge because it comes from your expertise. They will feel empowered, and that makes them more likely to come back to you for business.
4. Use a CRM to create an excellent customer database.
If you’re not using call management software, you’re missing out on some great features, one of which is creating a customer database that’s detailed and up-to-date. There are, of course, many ways to keep such a database, but a tool like Call Logic’s auto-dialing software allows you to store and update customer information all in one searchable place. If you want to retain your customers, you need to be able to keep track of them!
5. Connect your customers.
One of the popular up-and-coming ways to retain customers is to connect them with your other customers. You can do this through website testimonials, social media posts, or hosting seminars and Q&A sessions. When one satisfied customer talks to another, a particular bond is formed, whether they know it or not. Form that bond often enough and people will naturally gravitate towards being a part of it. And being a part of it almost certainly means continuing to buy from you.
Experience cutting-edge auto-dialing software made with both the salesperson and the customer in mind. Watch a free demo today to see all the great features!