Are you feeling stagnant with the pace of new client acquisitions? It may be time to update your prospecting strategy to create a pipeline of new clients that is predictable and sustainable. Many insurance agencies are still operating in inefficient and outdated ways or relying on methods that only yield sporadic results.
While bringing in new business is much easier said than done, it is essential for insurance agents to plan and implement new practices in order to stay relevant. It’s always a good idea to regularly review your prospecting strategies to know what’s working and what’s not. When you understand what’s going on you can choose to fail fast and adjust your course quickly.
Here are some ways to give your strategy a boost.
1) More is Better
If you’re not prospecting daily, you’ll fall behind. You don’t have to be prospecting all day, every day, but you should create a work habit of putting yourself in communication with potential clients at least part of every day. You may want to take a few minutes every morning to touch social media, cold call, or network. No one will find you if you are not reaching out.
2) Widen Your Net
It could be that you simply need to increase your target market. You can do this by venturing into new geographical areas, new areas of business, or by using new strategies to connect with new segments. Using diverse methods can open new areas of business for you.
3) Update Your Image
While you do want to portray consistency in your image, you should also make sure that you are keeping up with the times. Make sure your website has fresh content, not only for potential customers, but for search engines, which favor sites with new content. If your business cards are a few years old, it might be time for a new design.
4) Study the Competition
One of the best ways to be successful is through imitation. Take a look at your successful competitors to see what strategies they are using. Then, try them out on your own business. However, the key is to do what they do but do it better. Innovation, not imitation, is the road to success.
5) Keep Track
One of the most important ways to become successful is to keep track of your strategies and their results. Calculate the business generated from each strategy and analyze the data. Double-down on what works, and don’t be afraid to dump what doesn’t.
Prospecting never ends, so don’t get burned out. Slow and steady will win the race, along with understanding what works for you and what doesn’t. In an ever-changing and increasingly competitive marketplace, you’ll need to always be on top of your prospecting game.