Building Customer Loyalty Through Life Events

Building Customer Loyalty Through Life Events

New agencies certainly celebrate every time a piece of new business is booked and then issued. After all, that’s what insurance sales is all about right? Actually, this is only partially right.

Successful agencies are built on renewals more than new business, so the actual work begins after a new policy is issued. Several activities must be scheduled to make certain the new client becomes more than a customer. Building customer loyalty is one of the major factors that convert clients to raving fans

Event Scheduling

The agent should take special note to get event information from a prospect during the initial interview. This information should be gleaned subtly, not through a rigid questionnaire. Since insurance sales are typically event driven, agents should attempt to reveal events that might trigger the need for additional products.

Events such as births, anniversaries, birthdays, home purchases, and graduations can easily lead to the sale of additional products – rounding out the account. They provide the perfect opportunity to building customer loyalty. By scheduling foreseeable events into the agency management system, an agent can set up an email drip campaign that coincides with expected events and schedule calls to the client that coincide with the automated contact.

Childbirth should trigger a conversation about life insurance and an annuity sale to fund college tuition. Marriage should trigger the need for a personal article floater to cover the value of additional jewelry in the household. Certainly, a home purchase should trigger the need for a homeowner’s policy, and a graduation might trigger the need for a personal auto policy.

The bottom line is quite clear. It is much easier to manage a book of business that contains fewer clients that have multiple policies than it is to manage a book with many single policy clients. We also know that clients who have multiple policies typically remain with an agency much longer than single policy clients. Building customer loyalty through life events makes client feel cherished and inspired to work closer with you.

The Same Rule Applies For Commercial Lines

Building a profitable book of commercial line customers will work in the same way. Events trigger sales opportunities, so consider the events and log them into your management system and create an event-driven calendar for future sales calls and product reviews. By remaining aware of your clients’ life events and showing concern for the additional risk that typically results, your clients will become raving fans of your work ethic and share their support of your agency with others.

As insurance professionals, agents should remain in charge of helping every client manage their everyday risks. Do not rely on an event to trigger a phone call to your office. Instead, take charge of the relationship since you are expertly aware of how life events can trigger a risk that must be mitigated using the appropriate insurance solution. Highly successful agents are in charge of the agent/client relationship. They use the opportunities from life events to increase customer loyalty and as such, develop a profitable book of multi-policy clients.