Today is Day 11 in my series on “Creating A Mega Agency Without A Mega Budget: 59 Ways To Attract All The Insurance Clients You Need.”
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This list is a mix of marketing ideas and ways to streamline your agency operations and improve service, referrals, retention, and more. All designed to help you take your agency to the next level without going broke in the process.
[headline_tahoma_small_left color=”#000000″]#11: Winback! Do regular marketing to past clients to get them back. “Rates have changed, can we quote you again?”[/headline_tahoma_small_left]
We all hate to see a client leave. You put a lot of time into securing each policy and with every cancellation, we tend to think about lower retention and lost premiums. We also wonder if we could have done something different to prevent it from happening.
Many times a client will leave, not because of you or your staff, but because of a rate increase or a lower price elsewhere. Insurance is highly competitive, we all know that. But sometimes they make a mistake.
A client might go from your friendly, helpful office and get a cheaper policy somewhere else. But they mess up the paperwork, don’t answer the phone, and the rate turned out to be higher than they expected. They find out that saving $10 a month wasn’t worth it.
This is why you need a dedicated “Winback” process in your agency.
You’re not going to win back everyone that left but you stand a chance at getting back a few!
- Every quarter, run a list of recently canceled polices. I would say to give them about a 4 month time since they left, meaning they’ll be up for renewal again soon.
- Create a simple “win back” postcard. Something like “We miss you! Can we give you another quote? Our rates may have changed! Call us at _______.”
- You can make this even more effective by telemarketing the list a few days after they receive the card. People don’t always remember to call, but you will have already put the idea in their mind!
You put a LOT of work into growing your relationship with your clients. Make sure that they know you appreciate them even if they leave. Odds are, when something goes wrong with the new company, they’ll be back.