5 Ways for Insurance Brokers to Stay Relevant
Change can be positive, exciting and full of potential. The unpredictability of change and its implications must be managed for one to stay ahead in increasingly competitive industries. This is especially true for Insurance Brokers.
Build on your Relationships with Customers
Regardless of how fast technology moves, business will always revolve around understanding your customers and meeting their needs. Studies have proven that the cost of acquiring a new customer is far greater than the cost to keep a customer. So it is good business sense therefore, to view your customers as someone you'll be working with over the long-term and take the extra steps now to meet and exceed their needs and expectations.
Embrace New Technology
New technology can bring changes in how people behave. New technologies enable businesses to unlock value and create efficiencies in how they operate. In our ever changing world, the rate of change we are experiencing is unprecedented. The real challenge is not to adopt every new shiny piece of technology, but rather to work out what technology to adopt that will really make a difference to your business and to how you operate. Check us out: Advisr.com.au
Giving service that exceeds a customers' expectation is a guaranteed way to generate a positive experience. If you take a look at any successful company, especially the ones you love engaging with, one thing they all have in common is, yes you guessed it, excellent customer service. The truth of the matter is that customers have so much choice, and if they don't like the service that you provide them, they will move on. So if you're customers love what you do, have them leave a review for you online so others can find a great Insurance Broker. Transparency around the quality of the service you provide and how your customers feel about engaging with you is a key determinate of your success.
Sell the Best Products Sell great products is certainly a way to stay relevant with your customers. Customers will return time and again for the great quality that they know they can get from you. However, selling the best product is not always possible for a variety of reasons, there are definitely some ways around this challenge. Firstly, take the time to truly understand your product, getting clarity on the specific problems that it solves, why it was created, who it was created for, etc. Once you know more about your product and the reason behind it, it will be much easier to match your specific products to your individual client needs.
Upskill, Upskill & Upskill
The best in any industry always stay up to date with the key changes in their industry. Upskilling keeps people alert for new opportunities and aware of any potential threats. Business seems to be getting more and more competitive each and every day as more and more businesses positioning themselves to service your niche. So by upskilling, you can find out where the trends are heading and find a way to protect yourself and your company against losing business to them.
Through taking a few precautionary measures, insurance brokers can mitigate the negative effects of changes in the insurance industry and stay ahead of the competition. Simple right?
Advisr does not provide advice and does not hold a financial service license (AFSL). All information above has been provided by Andy Jamieson.