It’s New Year’s Resolution time! What are your agency’s goals for the new year? Here are some ideas for helping your agency to grow and succeed in 2021:
Make your insurance business more profitable. At COST Financial, we’ve helped those in the insurance industry create new revenue streams and profit centers for more than three decades. We have the knowledge and experience you need to help you set up and manage your own premium finance company. We’ll do all the work setting it up and running it while you focus on your core business. Call us to learn more: (800) 844-2678.
Do a better job of making your employees feel valued. Get to know your employees and find out what they are looking for in an employer. Studies show many workers aren’t only looking for better pay. Many workers, for example, are juggling child care and/or caregiving responsibilities and are looking for things like flexible working arrangements and remote work options. Depending on the situation, allowing a valued employee to work at home one day a week or working flexible hours could be a powerful retention tool.
Expand your offerings. Studies show that customers are more likely to stick with you if they have more than one insurance product with your agency. Cross-selling and bundling coverages can benefit your customers — and you.
Put the spotlight on customer service. When was the last time you surveyed your clients? Ask for customer feedback and respond to it in a timely fashion. When they call, do you make notes and ask about their families or pets? When it comes to making your customers feel valued, little things can have a big impact. For instance, do you send a thank-you note when a customer makes a referral? Do you follow up with the customer throughout a claim?
Invest in a quality online presence. Social media is an increasingly important part of marketing an insurance agency today. Consumers use social media and online reviews to select insurance agents. Are you active on Facebook? You need to be. Have you claimed your agency’s Yelp page? Do so pronto. Once you’ve done that, make sure to ask satisfied customers to leave a review of their experience with you. Those reviews are critically important.
Reach out to different demographics. Are your marketing efforts focused only on Baby Boomers? Millennials (also known as Generation Y) are a super-important customer group and one you can’t afford to ignore. Make sure your offerings have wide appeal from a demographic perspective and that you aren’t relying only on one type of customer.