The Secret for Client Loyalty

We all know that insurance is a relationship business. Now, more than ever is the time for agents and brokers to reinforce the relationship with clients. What is the secret for keeping clients forever? Show them appreciation.

Many agencies leave it up to the producer to maintain the relationship, which could include calls, cards and gifts. A client appreciation system does not have to change that approach, if it works. It would just schedule or automate the process.

Reaching out to clients is also an opportunity to remind them that the agency exists. Effective marketing relies on repeat exposure. And showing appreciation can be an affordable and effective way to promote and market the agency.

At a group meeting, ask all employees for ideas on what can be done to make the client feel really appreciated. Discuss current situations that employees have run into firsthand to get the creative juices flowing. It is good to discuss the importance of a strong relationship with clients and how client appreciation is part of it.

Appreciation

Once all the ideas are gathered, have the group select the top three or four best suggestions. Then work them into an action plan as part of a customer appreciation program. Like any system, the key is to have an implementation plan that includes accountability and checks and balances to make sure that the plan actually gets done. Employees, other than the owners should be listed in the action plan, that way there is not only delegation, but also group ownership.

Build the client appreciation plan for the year in advance. This allows for scheduling, budgeting and helps develop a more thorough appreciation plan. The plan should be flexible so the team in charge will have time to evaluate several competitive proposals.

The appreciation program should include sending cards out for birthdays, anniversaries, special life events, etc. The good news is that this process can be automated. There are services that will send out the cards for you, as scheduled, and in your handwriting! Two services are sendoutcards.com and us.popcarte.com.

Another appreciation theme might be more educational. For example, hold workshops, seminars or webinars on topics of interest to clients. One theme could be workers’ compensation. Bring in outside experts to make it a well-rounded seminar. A producer in the agency can go over the insurance aspect of workers’ comp. Invite a local attorney to go over legal issues, an HR expert to discusses personnel issues and a loss control expert to cover risk management.

The speakers will come for free since they can solicit new business. Also, make sure they bring their clients, so that the agency will have new prospects as well.

Also, at renewal time, make sure to offer recommendations to the benefit of the client. If, for example, a client is having financial problems and may need to trim their renewal costs, producers and staff need to be ready to recommend areas where they can save money, i.e. higher deductibles, self insurance and safety measures.

Evaluation

Every system needs to have feedback built into it for continuous adjustments and improvements. Start by asking the employees to share with everyone any nice comments or written notes from clients or prospective new clients. Next, monitor the number of clients or prospects attending the educational seminars. This also helps for planning future programs. It is also important to keep track of client retention. This is the most critical measurement of how well the appreciation program is working.

Producers need to make sure they send out thank you cards to all prospects they meet with, including the ones that got away. Taking this small step will make a lasting impact on the prospect and could be the difference in winning the account next year. (Hint: use services like sendoutcards.com). Keep track of closing ratios to track success.

Summary

People (clients) like to feel appreciated. Showing appreciation for clients can set the agency apart from competitors, increase loyalty, improve retention, inspire new sales and build relationships that can last a lifetime. Implementing a client appreciation program can be easy to do and will not cost much, but the return on investment will be significant!