Strategies for Customer Retention

Customer retention begins long before policy renewal time.

As an agent, if you believe in your product and know its value and potential to meet your clients' needs, retaining your clients is a matter of time, energy and—most of all—relationship.

Keep Them Coming Back for More

Experts agree it's five to 10 times more expensive to attract new customers than to work with existing ones.

But in order to cement your relationships with new customers, retain their business long term, and keep expenses to a minimum, you must focus on providing excellent, ongoing service and constant customer reinforcement—from the very first point of contact.

If you're looking for ways to increase client retention and keep your customers out of your competitors' hands, try the following strategies.

Show Them You Care

Your customers are your lifeblood. Just as you would for your mate, you must take time to identify, acknowledge, communicate, value, and respond to them and their needs.

For some customers, the most caring thing you can do is drop the hard-sell approach and just listen. To others, spending time on a phone call, an email or a letter is the best way to personalize their experience with you and show them they're not just another sales number. Still others may enjoy tickets to local sporting events, cultural entertainment or movies.

These special incentives can help you demonstrate a giving attitude and show your customers you really care.

Follow-ups to the sale such as newsletters, cards or surveys can also help keep your clients educated and feeling "in the loop."??

Regardless of the avenue, showing your customers care and concern is one of the best ways to retain their business for years to come.

Put Their Needs First

It's your job to help your clients find the product that works best for them.

This means putting their needs in front of yours—regardless of what that means for you.

Show your customers you mean business by listening to what they have to say; making note of what is important to them; demonstrating how what you have to offer meets their needs; and keeping in touch after the sale.

That way, they'll willingly come back when they have a problem or question, need to make a change to their policy, or need more of your product or service.

Providing your customers with value and service shows you place their needs first. What better way to keep their business long term?

Demonstrate Reliability

You know you're reliable and will do what you say you'll do, when you say you'll do it. But do your customers know they can count on you, too?

Prove it!

Throughout the sales process, be specific about deadlines, and make sure you meet them.

If you tell a client you'll get back to him within a particular frame of time, do it. If you promise to meet him after hours, honor your word…and be on time. This shows him you value his business and his time. (It also means you're keeping track of the details, a personalized touch that means a lot in today's automated world.)

Treat Them like a Partner

To really show your clients you care, consult with them as you would with a partner.

Why?

Partners have a genuine concern for one another and are always looking out for each other's interests and welfare. They take one another's concerns seriously, and only proceed when they're sure it's the right thing to do.

A respectful partnership gives you the opportunity to ask questions of your clients and get the answers you need to meet their needs.

Talk to them about their current and future needs in a caring manner and you'll reflect concern beyond the scope of the present sale…a rare approach in a competitive market.

Let Others Establish Your Credibility

Referrals, testimonials and endorsements allow others to speak for you in ways you could never believably speak for yourself.

Publications, speeches and interviews help demonstrate your expertise within the community.

Community leaders serve as excellent endorsement sources, as can local journalists and other insurance experts.

All give you leverage and credibility within your business; confirm your clients' choice of you as a knowledgeable expert in your field; and help bring more business your way.

Give It Your All

Retaining clients takes time, energy and a strong focus on relationship.

But by expending some effort on your existing customer base, you can gain your customers' loyalty and build a thriving, successful business as an agent.

This information was provided by InsureMe, the leader in online insurance leads for the insurance industry. Since 1993, InsureMe has helped thousands of insurance agents succeed in the insurance business by providing top-quality leads that are both detailed and affordable. For more information on InsureMe leads, please visit our agent Web site at www.agent.insureme.com.