Whether you’re relatively new to insurance or have years of experience, there are always opportunities to refine your processes and get renewal focused so you’re both retaining your clients and quickly identifying new leads and closing more sales in the coming months. Getting a jump start on your competitors means being more prepared and having tons of energy — instead of feeling as though you’re dragged down and struggling to get your plan in place. These few quick steps will help you get in the right mindset for success and see how you can outpace your sales rivals this renewal season.
Every company has a unique differentiating factor, but it may not always be the key go-to-market point in your corporate sales packet. What are the key reasons that your customers want to do business with you, and keep coming back each year? This is the true story that you need to tell to new prospects, and how you can keep current customers in your book of business in the coming renewal period. Perhaps you are the differentiating factor, providing an exceptional level of service, knowledge and a true heart for the work that makes you shine above the crowd. Take the time to jot down some successes from previous years that can be the start of positive stories that you can share.
Insurance changes on a regular basis, but are your tools up-to-date with the latest compliance requirements and other government mandates? Before you get into the rush of the enrollment season, take the time to update any tools that you use on a regular basis. Reach out to current or past customers and see what they use the most, and what other tools they would love to see. Each time you create new and helpful tools, it gives you an opportunity to reach out to prospects and customers to share how you’re making their life easier and more convenient. These tools often make it easier to break down your core value proposition and speed the annual enrollment process significantly.
Download: How to Streamline Your Renewal Process
Are your sales materials looking a bit out-of-date? Perhaps your branding has changed several times over the years, and you’re faced with a mismatched batch of conflicting messages. Making the effort to ensure that all of your renewal focused materials are consistent and cohesive with your messaging will help your brand become more memorable to clients and prospects alike. Different color schemes and a range of message points could lead to confusion that might point your renewals in the direction of your competition.
Are you actively asking your current customers for referrals on a regular basis? One of the best ways to expand your network is to actually work it — and if you’re providing great service your clients may be happy to oblige you with the names of new prospects. Many sales professionals struggle with this conversation, but you can focus on the positive and how you can provide assistance for additional organizations without sacrificing any attention to current clients. Asking for referrals doesn’t have to be an awkward conversation, and you want to make it as easy as possible for your clients. Some teams write short emails that their clients can customize and send to friends and colleagues, reducing some of the friction points in the referral process.
What are you waiting for? When you get renewal focused early in the year, you’ll be more prepared than your competition and more likely to win new business — and maintain your current accounts with great service! Want to learn more about getting ready for renewals and ditching extra steps you may not need? Contact Rogers Benefit Group today or download this helpful checklist: How to Streamline Your Renewal Process.