Best and Highly Effective Ideas to Cross-Sell More Insurance to Present Clientele

  • January 8, 2018

Cross-selling – The action of selling additional service or product to existing customer is any salesman’s dream. Sometimes, it simply falls in their lap. However, most of the time, it comes only through a lot of hard work.

Have you been looking for some great and effective ideas for making cross-sales happen effortlessly? Here are some of the best ones coming straight from experts in the industry:

Understand the Types

Most insurance sellers aren’t aware about the two distinct types of Cross Selling situations. These include:

1. Existing Prospects

These prospects are already owners of the product which means they have invested in the coverage from a competitor. However, you are simply trying to get the business with your agency. Here, you need to focus on certain key elements that’ll help such as an effective follow up, repetition, gathering x date, and selling plus points of your agency.

2. New Prospects

These prospects do NOT already own the cover you wish to sell them. In this case, you need to focus on varied key elements such as imparting knowledge about product, apt product awareness, creating a need, recognizing interest, and at last, selling.

Remember that these prospects demand different approaches and sales tactics. So if you have been treating all cross-sale prospects in the same manner, change your strategy.

A Cross-Selling System

Only a few insurance sellers focus on introducing changes in their usual procedures and systems so as to make process improvements last. Remember that formal systems need to be established for lasting success. Start with preparing a list of what you wish to do in each of the most common situations. Once it is done, share it with your staff.

Knowing the Target Product

Identify target product for individual customers really work. Did you know there can be as many as four different products that can be sold to each of your customers? The idea is to discover ways to prioritize the best products to cross-sell each client and avail this information for your sales and customer service staff.

The ‘Also Bought’ Trick

This trick really works! You must have seen sellers using it the trick online. When ordering a product, you will get options related to your product suggesting ‘customers who bought this also bought’. This is a little social psychology trick which works. You simply need to let your prospects know what most people who bought the product have also invested in. Telling customers what everyone these days do actually works!

Try Cross Selling During Quotes

This may sound a little pushy but it kind of works. While gathering information to provide someone a quote, you are free to ask anything you wish for. You can utilize this time to find out all that you need to know about other policies of these individuals and their insurance needs.

A Tracking System

In case, your plan is precisely to remember the products offering the best cross-sale opportunities for clients, you are not trying to cross sell efficiently. Have a look at accounts of clients and try to know what products are the best cross sale opportunities. Prepare a list of clients, mainly prospects for each type of insurance. Send direct mails, emails, or other campaigns focused around awareness of your different product lines. Also keep track of X-dates every month.

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Comments

  • Abishekmanoj

    Abishekmanoj

    10 / Jan / 2022

    God is great

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