4 Reasons Insurance Agents Should Sell Cross-Culturally
Demographics are important to know when you set out to find success as an insurance agent. You need data on your customers and the prospects you would like to reach. While these statistics and behaviors won’t tell you everything you need to know about the individual person, they will allow you to break into markets that you otherwise would not have considered. Selling cross-culturally, in particular, is a valuable option if you’re an agent looking to make your mark. Here are some reasons to do just that.
1. Language Barriers Can Cause Some Ethnic Communities To Be Underserved.
While this could depend on where you live, most insurance agents have a tendency to underserve other ethnicities. Example: where I live, there are large communities of Vietnamese- and Spanish-speaking residents, but most of the agents here are English-speaking white men. Finding a way to communicate with these underserved markets could lead an insurance agent to a number of sales right off the bat.
2. Minority Communities Are Usually Close-Knit.
Finding a way to land one client in an ethnic community can lead to several more sales because these communities tend to be close-knit. In some cases, it’s the cultural norm, but there is also the matter of language. It’s inevitable that individuals will build close bonds when they are living in a location where theirs isn’t the dominant culture or method of communication. Individuals in these communities tend to lean on and support one another. By attaining one piece of business, it’s easier to harness one relationship into several. If you already know their language, then that’s a leg up on the competition. If you don’t, consider purchasing a software program like Rosetta Stone. Or, and this may be your best option, hire an agent to work for your company who speaks the language.
3. You’ll Learn More About Yourself As An Agent And A Businessperson.
The only way to get better at doing something is to continually challenge yourself in doing it. Whether that means venturing in to an unfamiliar market and feeling your way or hiring a native language speaker to improve outreach efforts, you are going to test yourself as an insurance agent and a businessperson when trying to sell cross-culturally. Getting too comfortable and complacent in your job is one of the worst things that you can do. It keeps you from sensing changes that your business needs to make, and it causes you to let slip some valuable opportunities. Trying to sell beyond your own back door will keep you from stumbling.
4. You’ll Find More Ways To Get Involved And Bring Your Community Together.
As an insurance agent, you should already be getting involved in community events and campaigns. It’s such a great way of getting your name out to the masses. But like other agents, most of these events, campaigns, and projects, have a tendency to underserve ethnic communities. By trying to reach more of these prospects, you can discover new ways to serve them and stand out from your competition. You can also educate many on the need for insurance and how insurance works in the U.S. market, something they may not be familiar with beforehand. And perhaps best of all, you can connect ethnic communities to the general population and make both feel more comfortable living alongside one another.
Don’t let your unfamiliarity with any one ethnic group stop you from trying to enter those markets. There are ways that you can make an impact, be it through self-education, tapping in to your existing knowledge, or hiring outside help. And whichever path you choose, the results are well worth it!