Posted: Sat Aug 23, 2008 4:10 pm Post subject: Cross Selling Tips
I have received this tip via email and I want to share it with you.
Cross-Sell To Success
One of the biggest mistakes the vast majority of agents make, (especially P&C agencies) is not taking advantage of opportunities to ‘Cross-Sell' their clients. Back End or Repeat Sales, with your existing clients, is where the real money is made. It's how you can easily increase your sales and your profits.
One of the additional benefits of cross-selling is you'll dramatically increase your retention rate. There have been numerous studies that have proven that the more pieces of business you have in a home, the more likely you are to keep that client long term.
So, by cross selling you are not only getting additional sales commissions and renewals from new business, you also have a better chance of retaining the initial piece of business... with it's renewals.
Offer your existing clients a product that makes a logical connection with the product they already have.
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I think this is a good tip for insurance agents. There are agents who tend to forget their existing clients. As insurance agents, never forget your clients. Offer a new products to them that suit their needs. This is another stream of income that can make you a successful life insurance agent. _________________ Free Insurance Quotes
Thanks for the tip. You do make a good point that sometimes we forget about cross selling to our existing clients.
I have been told that a monthly newsletter to your existing clients would be a good way to keep in touch and to offer a certain product.
Though I'm not an insurance agent but I have some experience in other type of selling. The advantage with the existing clients is that you don't have to reintroduce yourself to them, and, hence, can save a considerable amount of time which otherwise needs to be devoted in building trust.
Trust is the most important factor in any form of selling. The customer needs to rely on your service to buy the product. That is why we see that its relatively easy to sell a product of a reputed company than selling the product of a new brand.
Nothing can be better if you have already earned a good name amongst your existing clients through your services. Cross selling is definitely a worthy way to generate more businesses.
Thanks Joven for sharing this wonderful information with others. I'm sure it will help the other agents as well.
