It is very hard to sell intangibles as compared to tangibles and it is true in many facets of our daily lives. This is perfectly advocated by people who are in the BFSI sector and they know how difficult it can get to hold on to a customer and acquire one. But, nothing is impossible and based on this philosophy the very best insurance agents know that the game plan has to be diversified and personalized at different levels.
Tips for auto insurance:
- Be Aggressive
It is a highly competitive market when it comes to insurance selling. With so many companies emerging in the field, it becomes difficult for converting the customers. But, instead of trying the red ocean strategy and fighting with the rivals, you can try blue ocean strategy and try to look for fresh prospects, In order to acquire customers and enhance sales; you and your staff have to be very aggressive and proactive.
- Outwork the competition
There is a saying in the sales industry that every salesman is a dog and the customer is the bone. So, if you can get your jaws on the bone, someone else will. This is why you have to think ahead of your competition and work accordingly. The best way to stay ahead is to work smartly and hardly and keep a tab of your rival’s movement. The trail would help you estimate their next move and the consumers will appreciate your strategy.
- Hire and delegate
This is a place where many fail to make their impression. It is to be understood that no one person can do every possible job on earth. Due to intrinsic skills and efforts, people are able to achieve extraordinary results. Therefore, it is very important for you to hire staff, train them accordingly and delegate geographical areas or a market for the job.
- Focus on the target
There is a huge plethora of information pertaining to customer needs and wants. Now, it is essential for the sales force to understand what set of consumers want which set of insurance. This is known as smart selling and it can’t be attained in a single day..
- Foster relationships
The agents having home-owners insurance leads found it very easy and convenient to cross-sell their products when the consumers trust the agents. Trust does not grow in a single day but is a result of long sustaining relationships. This is why we emphasize on fostering relationships.
So, these are the five rules that act as commandments to the insurance agents so that they can create a self-sustaining agency that yields better results.