Pitfall #1: Not taking advantage of the Internet
Let's face it: the Internet has changed the face of business in recent years and the insurance industry is no exception. In fact, according to a 2005 study by Forrester Research, 28 percent of consumers consult the Web at some point in their process of shopping for auto insurance.
With that number purported to rise in years to come, here are three ways you can capitalize on these trends now:
Develop a Website.
With more and more consumers turning to the Internet to find insurance, developing a Web site to represent your agency is a no-brainer. Essentially, you can use your Web site to gain visibility online—a crucial factor in reaching online insurance shoppers.
To get the most out of your site, you may wish to incorporate relevant articles, rate comparison charts, virtual tours, a history of your agency and any professional or personal information you wish to disclose about yourself. The goal here is to familiarize the consumer with you and your business.
Today, Web sites are fairly easy and cost-effective to start up.
Create a Blog.
In addition to your agency Web site, you should consider creating a weblog, or blog.
Blogs gained public awareness during the 2004 presidential elections, as an outlet for journalists and political analysts to express opinions and other commentary. Today, they are used to publish a journal, record of events, ideas or whatever else the author chooses. Used for business, blogs can be used to show your individuality and build discussion around your company and professional interests, thus connecting you to consumers and other insurance professionals—taking networking to new heights.
How can a blog help your business? Firstly, search engines love Web sites that are updated often and tightly focused on one or two subjects—causing your blog to move up quickly in search engine rankings. Secondly, the higher your site's ranking, the more visitors will come to your blog, increasing your visibility and attracting potential clients.
You can take your blog to the next level by incorporating insurance anecdotes, shopping tips, saving tips, new ideas and checklists—the possibilities are endless. Find Blogger.com to launch your company blog.
Partner With an Online Referral Service. With more and more consumers turning to the Web to service their insurance shopping needs, it's no surprise that more and more agents are turning to online referral services like SAVE TAX to purchase insurance leads—connecting them with consumers who are serious about buying a policy.
For more on what insurance leads can do to your business, read our article, What Great Agents Know About Insurance Leads and visit the SAVE TAX site!
Pitfall #2: Not cross-selling into other areas
While agents of times past often specialized in one or two kinds of insurance, today's agents are cross-selling into other areas of insurance—and gaining more clients because as a result.
Offering multiple lines of insurance provides a convenience to your clients and allows you to sell more polices. Add to that a variety of financial products, and your clients will never have to go anywhere else to service their insurance and financial planning needs.
It's important to understand that additional licensure may be needed to sell other types of insurance, and separate licenses may be required to sell financial products. For more details on requirements, contact your state's department of insurance.
Pitfall #3: Letting customer service fall by the wayside
Just because more consumers are logging on to shop for insurance doesn't mean they don't want to feel taken care of. To meet consumer needs, many insurance agents are turning to call centers and help lines, available to clients 24 hours a day, seven days a week. Many agents are also hiring customer service representatives to handle consumer questions, file claims and make alternations in policies.
By implementing call centers and hiring customer service help, agents are free to seek new clients and maintain relationships with old clients—developing a satisfied clientele that will expand for years to come.
Pitfall #4: The absence of goal-setting
Most successful agents agree: Challenge is good for growth. To challenge yourself and expand your business, it's important to set goals. Quantifiable and measurable in nature, your goals should also be specific and realistic.
Not sure what kind of goals you should set? Here are some examples given from successful insurance professionals:
Talk to 15 prospective clients every day
Post five blog entries per week
Catch up on industry news one hour per day
Call and check up on ten clients every week
Starting with small goals is the best way to tackle the larger goals—goals like increasing sales dollars or policies sold. Whether your goals are similar to those above or very different, goal-setting is an essential factor in finding success as an insurance professional.
Record your goals once you've committed yourself to them—nothing feels better than scratching an attained goal off your to-do list and it will keep you motivated to reach your next target.
Enjoy Professional Success Today!
Challenges in the workplace are inevitable—but now that you're aware of the major pitfalls facing insurance agents and how to avoid them, you can concentrate on taking your business to the next level!
Get started on yourroad to success by contacting SAVETAXINDIA today.
