When too many of your clients are cancelling their health insurance policies, you start to feel the impact at all levels of your business—lost clients could increase administrative costs and you could also see issues with debt management if you’ve already budgeted certain commissions that are no longer coming in.
And acquiring new clients is not cheap.
Here are 5 tips to make sure you choose clients who will stick around:
The road to client retention starts before your relationship with a client even begins. First, you want to discover if you and a particular prospect are a good fit for each other.
In all industries, the best salespeople ask the right questions.
You may also benefit from a shift in thinking: rather than focusing on acquiring clients, think about it in terms of finding out if a prospect is a good business partner. Ask yourself, “Is she a good fit for the services I offer?”
You must be willing to say no to certain clients if you think you cannot provide them with the services they need. Or you may say no if you foresee this prospective client requires a larger investment of time than you can afford.
The same insurance product won’t fit every potential client. Determine their budget.
If, for example, you run into a prospect who qualifies for high subsidies, it will be important for them to know the value of supplemental products, though they may not have the budget for these voluntary products.
Work together with them to find the best potential options to fill in the gaps created by high-deductible ACA plans, for example.
2. Find Your Niche
You will need to project professionalism and trustability to potential clients. If they have any qualms whatsoever about your ability to serve their health insurance needs, assure them that you specialize in this field—you are the content expert.
Oftentimes, you can put an apprehensive prospect’s worries to rest by letting them know what others in their situation are purchasing. Decisions of any kind are difficult, let alone when healthcare is involved.
Make the decision easier by providing them with a road map of previous clients’ experiences.
The language you use may sound like this:
“This is our most common package.”
“Many of our clients are happy with this package, and here’s why.”
“This is our most popular package.”
Again, you don’t want to sell them something they can’t afford—sure, you won’t be able to retain them as a client, but more importantly their needs won’t be met.
Larson Educational Services
13040 Livingston Rd. #12,
Naples, Florida 34105