Open enrollment period is the most stressful time of the year for you and your groups. During those last months, HR professionals try to present employees with the most qualified healthcare options, employees attempt to choose the best plan for themselves and their dependents, and you need to be ready to help at any time as their expert advisor. However, the work shouldn’t start in October. Open enrollment period is not a sprint, it’s a marathon you should be preparing for each quarter. In this week’s Broker Tool Belt, we share what you need to do each quarter to make the most of open enrollment, stay organized, and be successful during the next busy season.
Now that open enrollment season is behind you, what are you going to direct your attention to? While Q1 is the perfect time for you to focus on generating leads, prospecting is often considered time-consuming and tedious. Finding new clients is challenging enough, so if you approach prospecting with a lack of enthusiasm, attracting qualified prospects will become even harder. How can you effectively find more SMB looking for a new broker without throwing your day away? In this week’s Broker Tool Belt, we share insurance prospecting tactics to help make your efforts easier and more effective so you can grow your agency in 2020.
2020 has arrived with new opportunities to generate more leads, sign more BORs, and grow your book of business. Whether it’s acquiring new businesses, onboarding, or open enrollment season, as a health insurance broker you are probably thinking of a few areas you can improve in your agency to have an even more profitable year. It’s too late to change last year’s results, but it’s a great time to set your goals for 2020. What are your professional resolutions this year? In this week’s Broker Tool Belt, we share four new insurance marketing ideas for brokers to succeed in 2020 and years to come!
Open enrollment season is winding down. What should your focus be next? In today’s competitive marketplace, retaining your clients is key to ensure long-term profits. The average customer retention rate in the insurance industry is 84%, while the top five companies have a 93%-95% customer retention rate. This difference can represent a potential loss for you. Furthermore, it costs seven to nine times more for an insurance agency to attract a new customer than to retain one. Since replacing lost clients will cost you more, it makes economic sense to focus your efforts on keeping the clients that already trust you. In this week’s Broker Tool Belt, we share 4 programs to increase insurance agency client retention and help you succeed in 2020.
When you sell insurance, competition can be a serious drawback. You are up against others who are looking to attract the same prospects with a very similar offer. What can you do to stand out? Most likely, employers in need of a group insurance broker will conduct online research before making a final decision. For this reason, building a strong online presence will ensure you are among the final choices. One of the fastest ways to increase your online visibility is through a PPC campaign. In this week’s Broker Tool Belt, we share how to implement PPC for insurance agents.
A basic challenge you can encounter when selling insurance is that not every lead will answer your phone calls or emails on the first try. However, if you want to succeed in the insurance industry, you can’t give up on these valuable prospects. It’s important to set expectations for how many times you should engage with a lead before moving on to the next one. Have you reflected on the strategy you have in place to interest your leads? There are a wide variety of techniques you can start implementing today, but in this week’s post, we focus on how to engage insurance leads with a powerful email newsletter.