Retention 101: Keep Your Leads for Life

You’ve worked your leads, signed policies and your agency is growing. Fantastic job! But while writing new policies and growing your client base is great, it doesn’t guarantee you a successful, thriving agency for years to come. If you don’t have a retention strategy in place, 15% – 30%+ of those leads you’ve signed up as new customers, will be gone within 6 months to a year.

Retention strategies allow you to continue building on the new relationship you’ve created with these clients by reminding them you’re here and ready to support them. It also shows the client they’re more than just a policy to you, they’re valued and you want to keep their business.

Today I’m going to share with you some of my top retention strategies. I highly recommend you implement at least one, if not all. The more you’re doing to let your customers know you care, the longer they’ll stay with you.

First and foremost, you have to make sure you’re gathering information about your clients so that you have touch points for conversations that involve more than just their policy. Keep information on their family, occupation, favorite recreational activities, where they live, upcoming birthdays or special dates, and whatever else feels relevant in a client file. You can quickly review this information when they call you or you need to call them.

I once heard it said that: The man with the most information wins!
Apply this wisdom to your business and you’ll win!

Keep your leads for life with these top retention strategies:

1) The Random Postcard

Go out and get yourself some postcards that have an interesting photo on the front. It can be a funny image, you/your office staff, a picture of a dog/cat, a picture of a baby, or something else that feels right for you. The key is not to send a standard company branded postcard, you want something unique and different that will make people flip it over. Write a simple message on the back. This message can be anything from a standard, “Thank you for your business, please let me know if there’s any way I can support you!” to a personalized message based on the information you have on file.

2) Deliver Value Consistently

In addition to reaching out directly, it’s important to give them consistent value that goes above and beyond a solid insurance policy. Some of the best ways to do this include maintaining a Facebook page or Twitter account for your agency, creating your own website and blog, or sending out an email newsletter. We’ll talk more about these individual platforms in more detail soon, but for now the point is: you have to consistently push out value to your clients.

When you share value, it establishes you as the expert on insurance and how to best protect your family, home, and business. It also further shows that you care about your clients as people and not just policies. Find, share or create, relevant content and regularly put it in front of your clients on a schedule that works best for you.

3) Keep a Calendar of Important Dates

Whether this is your client’s birthday, their son is playing in an upcoming soccer game, or you know they’re planning to quit their job in a few months to start a business, you have to record it all on a calendar and set adequate reminders. Whether you’re on a call, receive an email, or have a conversation in person, note these important dates, who the client is, and what’s happening as soon as you’re able. Otherwise you’ll forget completely and can’t follow up!

Set reminders that make sense. If you want to mail birthday cards, set it at least one week in advance. If you want to call to check in on the new business so you can help with their policy updates, set several reminders in advance. If you want to see how their move went, check in on their new house and what policy updates they need, set it a few days after you know they’re moving.

Be sure to also note when accidents or claims will drop off their record so you can be sure to help them save as much money as possible, as soon as they’re able.

4) Send Out Updates and Announcements

If you’re moving offices, adding new staff or changing something about the way you do business, be sure to reach out and let your clients know. Sending regular updates helps ensure clients have the most up to date information so working together remains smooth and easy.

Your retention strategy doesn’t have to take an enormous amount of time and energy.

Automate the processes where you can, remember that the little things like a postcard or simple personalized messages go a long way, and bring in team members that can help you manage the process, giving you time to bring in even more business.

I’d love to hear from you in the comments below, what are your top retention strategies?

PS – Did you miss yesterday’s free webinar? In this webinar with Velcofy, we take a revealing look at the day in the life of independent agent Ryan McClintock, Co-Founder and CEO of Kanopy Insurance. Ryan will cover how you can navigate through a complex and multi-tiered sales process, make the most of your leads with a limited budget, accelerate lead response and decrease your cost-per-sale. Click here to watch the replay on demand!

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