Want to stand out from other agents and win more clients? Set yourself apart by approaching sales in a way that shows off your expertise and brings more value. Here’s how.
If you asked 100 insurance agents why prospective customers should choose them, most would tell you they offer excellent service and great prices on insurance. Most of them have a business card that says home, auto, business and life insurance, or some variation thereof.
This begs the question: if everyone sells the same products, and everyone offers great service and competitive prices, how do you stand out? Here are 3 tips to help you level up in 2022 and crush your sales goals:
1. Niches Lead to Riches
Many agents lead with auto insurance and they’re frustrated when competing against three other agents to see who offers the cheapest price. What if your prospects wanted your expertise instead of the cheapest price? How would the quote experience change if you specialized in:
- A specific coverage
- A passion or hobby
- A unique exposure
- Something your prospects irrationally love
Essentially, find something you love and/or know a lot about and build a book around it. For example, you could specialize in customers who run in-home daycares, or folks who board horses, or people who have extensive sports memorabilia collections, or classic car collectors. You are limited only by your imagination and ability to find carriers that love the risk. Plus, no one says you can have only one niche.
Niches are the key to unlocking the bundle. You’ll be prospecting for a niche policy, but you’ll often get the entire account.
2. Sell Your Expertise, Not a Price
Imagine writing a marketing message for customers who board horses. The imagery is simple: a barn and a couple of horses. The message is equally simple: If you board horses, having the wrong insurance could be a financial nightmare (pun intended); I’m your local expert and I can help. Instead of starting with price, the conversation will be focused on their insurance needs, how the right coverage provides protection, and why their account should be insured with you. As an added benefit, come renewal time, your customers may feel very uncomfortable leaving you for someone who isn’t an expert in their unique situation.
Communicate regularly with your niche customers about trends, ideas, coverage and more. A monthly email keeps you front of mind and primes them to send referrals.
3. Change the Game
By focusing on a niche, you’ll be talking to the prospect in their barn while other agents are (metaphorically) lined up knocking on their front door.
You don’t have to take your foot off the gas on your current efforts. Start small, pick a niche, and begin prospecting. Try targeted Facebook ads, LinkedIn searches, or just getting involved in your community by attending events related to your niche. The key to changing the game and crushing your 2022 sales goals is to be different from every other agent.
Insurance advisors should take their ability to safeguard the public and the financial industry seriously by investing in themselves and their personal knowledge. We should be mentoring and teaching new producers in our agencies, spending time on continuing education, and putting what we learn into practice. Check out the 2021 Issue 5 of Smart Choice Magazine for more.