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Ryan J. Pinney Pinney Insurance Roseville, CA. 3 Key Themes for Insurance Sales in the 21st Century:. Pricing, underwriting, products, and service don’t matter What I “do” doesn’t matter until it’s about the client Sales funnel based on conversion, up-sell, cross-sell, referrals. - PowerPoint PPT Presentation
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Ryan J. Pinney Pinney Insurance Roseville, CA
3 Key Themes for Insurance Sales in the 21st Century:
Pricing, underwriting, products, and service don’t matter
What I “do” doesn’t matter until it’s about the client
Sales funnel based on conversion, up-sell, cross-sell, referrals
A Changing Industry
Fierce competition+ Producers & agencies are
seen as commodities
+ Lost the “personal touch” that made our industry great
+ Consumers shop and buy differently now
= Pricing, underwriting, products, and service don’t matter
Customer 2.0Unlimited access to
knowledge
Seeks advice online from mega distributors (Amazon)
Uses social media to get recommendations
Doesn’t see the typical salesperson as providing value
How do you turn Customer 2.0 into a client?
Sales 2.0
1. Interact w/clients on social media to gain real-life insight about their needs
2. Prove your service has value: “I will help you with your personal financial goals” NOT “I have a great insurance product for you.”
3. What I “do” doesn’t matter until it’s about the client
TIP: Agency managers, encourage your producers to focus on value
The 21st Century Sales Funnel
Generate Leads with Your Sales Funnel
Do: Focus on existing clientele and centers of influence to find your best leads.
Don’t: Spend all your time trying to generate new leads or internet leads .
Spend time in the top and bottom of the funnel, not just the middle.
The Opportunity Cycle
Suspects: Communicate effectively with them; 84% will buy from you or a competitor within 24 months.
The Opportunity Cycle
Prospects: Create a lead nurturing process to take them from interested to ready to buy.
The Opportunity Cycle
Buyers: Turn customers into clients and advocates; they represent 80% of profits and less than 20% of expenses.
Up Sell, Cross Sell, Referrals
Upsell: add value for your client with riders, policy options
Cross-sell: add additional products and services with these marketing tips:
Customize
Use memorable visuals
Create an emotional connection
Solve their problem
Explain subjects clearly with visuals
Referrals: Use social media to ask for the referrals you want
Tools of a 21st Century Producer
1. CRM: track prospects, leads, and clients; set up automated marketing
2. Web communication: email, texting, blogging, social media, website
3. Analysis & data tracking: learn how and when your marketing is effective
Standardize, Systematize, Automate
Standardize: Perform tasks the same way every time
Systematize: Schedule tasks you’ve systematized, like fact finding and annual reviews
Automate: Technology completes your tasks for you.
Rinse & Repeat: Never stop reviewing & improving process.
Stand-Up, Stand-Out, & Be Different!
Decide to change
Find a niche
DifferentiateIf you’re saying
and doing the same things as your competitors – you’re just a commodity!
Thank you!