Your customers are your most important asset as an independent insurance agent. They’re the ones who buy insurance from you, renew their insurance from you, and refer you to their friends. Customer relationships are what will make or break your insurance sales.
No insurance agent likes an unhappy customer, and no unhappy customer is going to boost your business. Customer relationships are very important when you are working directly with the consumer. According to an American Express Survey, 78% of consumers have not made an intended purchase because of poor service1. A happy customer is going to purchase more insurance from you, and remember the experience when it becomes time to renew their policy. There are many insurance options for customers to choose from, and 91% of unhappy customers won’t willingly do business with you again1. This can be bad for you, as they can easily find a new insurance agent.
When people find something they like, they tell others about it. Proving great customer service will lead to happy customers, which will increase the referrals you get. People are all about saving money and letting others know about it. You never know who your customers know, and referrals are a great way to build loyalty among customers while increasing your sales.
Unfortunately, people who have a bad experience tend to tell others about it as well. When people have a bad experience, they will on average tell 16 people about it1. This is double the amount of people they would tell about a good experience. By going the extra mile, you can be assured that at the end of the day you have no unhappy customers who will leave you bad reviews and not refer you to their friends and family.
Your customer relationships are very important. Happy customers are more likely to refer you to friends and family and increase your business, while unhappy customers are more likely to make sure it is known they had a bad experience with you. Take your customer’s feedback seriously, and apply it to your business.