Tag Archives: KIT Marketing

Persistency Should Never be Overlooked When it Comes to Selling Insurance

Barron’s Insurance Dictionary defines persistency as the “Percentage of life insurance or other insurance coverage remaining in force; percentage of policies which may have not lapsed. The larger the percentage, the wider the persistency.” It is a part of sales that is often overlooked. To be profitable in insurance, it isn’t enough just to sell your product to one person; you should also try to retain your customers.

Client SalesNow, think about persistency for a moment. What’s the very first thing that pops into your head? Most likely your answer would not be marriage.  I mean, what would persistency have to do with matrimony? They seem further in relation than your cousin and a kumquat.

But the relationship between a client and an agent is just that, a relationship. It takes courtship, compromise, and commitment for any contract to be signed.  Nevertheless, walking down the aisle and saying your “I dos” isn’t the end of the marriage. Marriage is really a commitment and, in several ways, same goes with a client. If the client doesn’t feel you care, there may be a rift … or maybe “divorce.” In the world of insurance sales, that means cancelled contracts, which may result in the dreaded charge back.

In order to have great persistency, then, you should treat your agent-client relationships with pride. Your customers trust you, they’ve created a resolve for persistency with you, and they anticipate being treated as such. Here are a few methods to keep them happy after the contract is signed.

Keep in contact. Communication is crucial to a good relationship. Keep that bond powerful by reaching out to your customers. Express care for them outside of the context of the company. A simple birthday card or phone call can do wonders. If you’re trying to find an automated answer, NAA’s KIT letters can go further toward showing your clients just how much you care.

Earn their loyalty. When you love someone, it’s usually not just for one reason. It would be their sense of humor, their personality, or their smile. In terms of your clients, the relationship also needs to be multi-tiered. Having multiple contracts with them is a wonderful approach to retain persistency. The more policies they through you, the more likely they are to retain their policies and ask you for advice about future investments. When you help a customer once, they are just a customer. Help them again and they become a valued client. Help them a third time and you have a client for life.

What do you do in the event that the passion of this relationship has cooled and you’ve recently been “divorced?” It is possible to still salvage your relationship by contacting the client and asking why they cancelled. A small reminder will help them remember why they signed up in the first place, or perhaps it will reveal different problems you could help them with. Rekindle that spark of passion and you might be able to save the relationship.

Remember; persistency is a lot like a marriage. You’ve already devoted to one another. Through any time to show your customers how much you care, and seek out opportunities to “romance” them further, you’ll have a lengthy, fruitful relationship together.


The Importance of Referrals

Did you help your clients’ friends by getting referrals?

Here are some great ways you can get referrals and help your business attract more high-quality clients. By using the following tips, you could create an endless number of talented people and keep growing with National Agents Alliance!

1. Treat the entire referral process with importance – it is urgent.

How you communicate makes a difference. Let people know there a benefit to their friends, family and people they care about. Make time to have a great conversation about referrals. Be on a mission to bring your service to others. As you begin the referral conversation, say something like, “This is of the utmost importance. I need you to share this with people you know because it will help you both.”

2. Have a client-service relationship model that drives your contact with your clients.

Most financial professionals don’t use a formal client-service model. When it comes to staying in touch with their clients, they wing it. Guess what? Your clients can tell if you’re winging it. If you want to maintain a high level of client loyalty and remain referable over a long period of time, you have to stay in touch with your clients on 2 levels:  1) Continue to bring value to your relationships (or you’re no longer necessary); and 2) Build business friendships with your clients. (Hosting client appreciation events shield your clients against the competition.)

Referrals3. If you get one referrals, why not more?

If you have one name, why not 10, 12 or 25? Think like that and you will get more. Create your own sales team with National Agents Alliance. Teach them: how well you take care of your clients and the value you bring to your clients; teach them what types of people you serve the best; and teach them the best way for them to give you their referrals.

4. Upgrading the quality of your referrals is simple: Learning more before means you care more and it will show to the people you speak with!

Don’t just settle for a name and phone number. In fact, in this new do-not-call world, you’ll need more than that. The person who just gave you a referral is a great source of information that can help you make a better connection. Learn as much as you can about the person before you contact them, such as: how they know each other, why it might be a good fit, how the prospect might react, the best way to contact them, what you can do to pique their interest, and what your referral source likes or admires about the person.

5.  Expect referrals.

Don’t go into your relationships with prospects and new clients wishing to get referrals. The work you do is important. Be on a confident mission to help others. Be a difference maker for people. Let that confidence show through. Do not tell your clients you expect them to give you referrals. It’s not an in-your-face conversation where you are putting major pressure on them, but carry this confidence with you into every visit.  National Agents Alliance has many ways to guide you through this.  Just ask your upline or mentor.

6. Keep your client advised of how you are following up on their help.

When you get a referral, there are three things you MUST do to keep them coming from that person:

1)  Follow up on ALL referrals as soon as possible.

2)  Let your client know you are following up on their help.

3) Thank your referral client with a handwritten note and a small gift.

Using these simple steps really can help you grow your business with National Agents Alliance while you continue to help others. Why wouldn’t you want to help the people closest to your clients? It’s a no-brainer!


Developing Client Relations

1. Be Good to Your Client(s) – How many people do you run into throughout the day who, let’s face it, are in a bad mood? You don’t want to interact with them nor be around them and certainly you don’t want to do business with them. If you’re having a bad day and can’t seem to turn it around then don’t interact with your clients, because one bad day can turn a client in the other direction or a potential client running to someone else. People don’t like to do business with grumpy and irritable people!

Client Relations2. Follow up with Your Client(s) – Most people today are so busy and consumed that they don’t have enough hours  in the day, but you have to understand the importance of following up with both potential clients and your current clients. The simple act of following up will not only make you stand out from your competitors but will let your clients know that you do care and are thinking about them. Successful follow up actions can simply include an email, handwritten letters, greeting cards, an invitation to an event, or a phone call. National Agents Alliance offers KIT Marketing and has a lot of these great features so you can stay connected with your client base. You want to choose follow up actions that you learn from National Agents Alliance that will fit your style and remember to do them on a regular basis. If you can consistently implement follow up actions into your business then you will be amazed at how much your network grows. Make your clients feel special and let them know National Agents Alliance and most of all you care.

3. Make Eye Contact – If you are going to be interacting with people, make eye contact with them when speaking and don’t talk to the ceiling or the floor but directly to them. You will be surprised how fast you will set yourself apart from the rest of the crowd by simply smiling and making eye contact.  By making eye contact you’re also establishing trust which ties into number four below.

4. Creating Trust with Your Client(s) – This is an important one simply because many people will turn one other cheek at any person they don’t trust. Start your relationships by becoming honest with your clients, giving what you promised and always keeping your word. Always make sure you are recognized by your audience, your network and then develop relationships that will create a great relationship with your clients.  Work with integrity and your potential for success will be endless!

5. Be Yourself – Most people don’t like to work with others who are fake. You will get much further in life, with NAA and be so much happier if you are being yourself! When doing business and developing relationships be in the habit of being original, it pays and will work to your benefit, plus you’re not spending the time and energy involved in being something you’re not. Don’t brand yourself or your National Agents Alliance as being fake because it will take some time to pull yourself out plus it is the wrong foundation to building strong, honest and healthy relationships with your clients.

6.  Use NAA’s Foundation – National Agents Alliance already has training that will help you build your sales foundation and gain all of the above from your clients.  Use the tools given to you and don’t be afraid to ask questions.

Please visit KIT Marketing to learn more about our client relation services with National Agents Alliance.


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