My father used to tell me, "Good enough is not good enough." I can't say my dad is much of a philosopher, and as a lazy kid I will admit I heard what he said but didn't really know what it meant. Now, as an adult, I understand that he was saying, if you think you're good enough, think again, because there is always someone that will outwork and out hustle you. Don't get complacent. My dad isn't philosophical like a Vince Lombardi or Confucius, but there's a lot of truth to his statement.
Sure, "good enough" got the job done, but did it really? I'll admit that there are many times I've been complacent. I'll be driving home from the office and think to myself, "I forgot to do this," or, "I could have put more effort into that." In my job, complacency is dangerous. Complacency, over time, will lead me to lose and my competitors to win.
When insurance agents get comfortable it can lead to complacency, which leads to leaving money on the table. Agents have become specialists, maybe one agent only sells health insurance, another sells Medicare or Group Benefits… I scratch my head and wonder, "Do they realize they're leaving money on the table?"
URL has teams and programs in place to help you in multiple products that are not your primary market. I'll use my specialty as an example, life insurance. To put this into perspective, the average commission for a life insurance policy is $800. If you wrote 50 individuals in your primary market, presented life insurance to all those individuals and sold life insurance policies to a third of them, you're going to make about $12,000 in additional income. Not only are you increasing your paycheck, but you're helping your client fulfill their life insurance needs and shutting the door on another agent working with your client and possibly losing that client for your primary market.
If you are not comfortable presenting life Insurance to your client, but understand and know your client needs life insurance, we can help using our Orion Concierge Referral Services. We can educate and train you to present and sell life insurance to your clients, or we can take the lead upon your request and work with your clients. You'll receive compensation for generating the opportunity and you can rest assured our trained professionals will treat your client with the same respect and dedication as you would treat them yourself. Either way, you are helping your clients and your bottom line.
I often witness agents getting complacent when they sell a life insurance policy, too. The sale is a "transaction" more or less, and not a sale based upon a relationship. They sell clients a policy, and they never contact that person again. Your clients' insurance needs change. URL has worksheets and processes in place to help you follow up with your clients. Just like your doctor schedules follow-up appointments, or your mechanic schedules the next time your vehicle needs serviced; as an insurance agent, you need to schedule appointments to check those policies.
Go the extra mile for your clients. Ask yourself these questions:
- Am I attending to my clients so no other competitor will?
- Do I gain new clients by "word of mouth?"
- How often do I contact existing clients to thank them for their business?
- Am I following up with my clients annually for a "review" to ensure their needs are met?
- Do I honor my commitments to my clients?
- What is the "extra something" that I do after the initial sale that makes my clients smile? (Sending birthday cards, forwarding articles of interest, etc.)
Taking that extra step and asking a few questions could lead to a lifelong client, and increased business for you. It could also lead to referrals and warm leads. What did it cost you? Only a few moments of your time.