What’s the hardest and most expensive sale you’ll make to a client? Isn’t it the first one?
In most businesses, especially insurance sales, the profit from the second or third sale is significantly higher, because, the marketing cost for repeat business is much lower than for the initial sale.
For example, in direct mail, a “bounce back” offer is often sent to the customer every time they make a purchase. The “bounce back” is another offer or catalog included with shipped goods to encourage another order from the customer. The cost for sending the additional offer or catalog is very little because they are sending it with the initial purchase.
The Hard Rock Café makes at least as much profit from the gift items that they sell after the meal, including tee shirts and caps, as they do from the food sales.
Once the initial sale is made, you should have additional offers for your clients. (And annual reviews)
How much is it costing you in your time, postage, lead lists, leads, etc. to attract and sell a new prospect? If you spent more time with your current clients and keep in touch with them with a monthly newsletter, etc. how many additional sales could you make? How many more referrals would you get? How much more profitable would you be?
Compare the cost of repeat sales (and referrals) to the real cost of finding and attracting a new client.
Most salespeople spend all of their time obtaining new accounts and they tend to ignore their established business. One of the most powerful marketing tools today is good customer service. Never allow your clients to be treated as poor relatives looking for a handout. Your current clients are your most valuable assets!
Join the movement! We need to change the perception of all insurance agents
and even most financial advisors being compared to a used car salesmen!
Get the training you need to break away from the old Insurance (used car salesman) agent. Help us to restore our profession to a respected industry it once was. Take the first step. Get to know us and our training. Help us make the change in our industry!
It all starts with a membership to our… Insurance Marketing and Sales Resource Center! This is the highly specialized insurance marketing and sales training you have been missing… with our complete ‘Step by Step’ programs and courses. For about $1 per day, you will learn what you must know and do today, to take your sales to heights most people can only dream about!