Download - Boost your closing ratio: 23 easy techniques to turn more prospects into insurance customers
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Boost Your Conversion Rate: 23 Easy Ways To Turn
More Prospects Into Customers
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Remember, this is a ‘live’ webinar.
You can type your questions here.
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Introducing: Michael Jans, CEOAgency Revolution.
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Thank you to our industry partners
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Thank you to our sponsor
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Boost Your Conversion Rate: 23 Easy Ways To Turn
More Prospects Into Customers
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+DelightAt Every Stage in the Process
Attract Convert Optimize Retain
The ACOR + Marketing Model
Prospects Buyers Clients PromotersLeads
C O RA
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Convert
COptimize
ORetain
RAttract
A
$$$$$$$
$$$Cost
Value
Leverage
Wealth and Equity
Reliable Income
New Income
Future Income
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+DelightAt Every Stage in the Process
Attract Convert Optimize Retain
The ACOR + Marketing Model
C O RA
Raw Number
Closing Ratio
Policies Per
Customer
Retention Rate
X X X
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Convert More Leads Into Customers
• Quoting without closing is a waste • Converting existing leads is high leverage • Culture, Staff & Technology
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3 Segments:
C Culture
S Staff
T Technology
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23 Easy Ways to turn more
prospects into customers
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C Culture
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C
Measure
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C
what really is our closing ratio?
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Closing Ratios for Everyone2
C
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C
19% 32%
They Won’t All Be The Same
(To go from X to Y by When)To go from 32% to 38% by June 15th
55% 27%
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C
3 Incentives
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C
Instant RewardsPer Sale
Long Term RewardsRatio or Raw Number
Individual
Team
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C
4 Transparency
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CWhiteboard Technique
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C
5 Scripting
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C
But scripts sound SO awkward
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C
6 Coaching & Role Play
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C
7 “Ride Alongs”
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CListening to Calls
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C
8 Clear U.S.P
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CWhat is your U.S.P?
Unique Selling Proposition
• We only insure ______
• We specialize in ______
• We don’t just sell insurance, we also ___
• Here’s what you’ll get from us, you won’t get anywhere else
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C
9 Align Marketing & Sales
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C
+DelightAt Every Stage in the Process
Attract Convert Optimize Retain
The ACOR + Marketing Model
Prospects Buyers Clients PromotersLeads
C O RA
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C
• Who are your High Value Customers?
• What are you doing to attract more of them?
• What are you doing to screen out Low Value Prospects?
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C
10 No practice quoting
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C
• Who will we quote?
• Who WON’T we quote?
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C
11 Identify top objections & train on solutions
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C“It seems expensive”
“I hate firing my current broker”
“I’ll have to think about it”
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C
Team Meetings & Meaningful Conversations
12
Part #1
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CWe routinely talk about Conversion Ratios, Techniques, What's Working and What's Not
0
25
50
75
100
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Team Meetings & Meaningful Conversations
C
13
Part #2
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CWe routinely talk about setting & achieving goals.
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Fix any internal processes that interfere
with closing
14
C
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C
• Slow response times
• No follow up
• “Placer" not getting quotes fast enough
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CWe do exit interviews to find out
why we didn't close
15
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S Staff
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S
Social Proof Handoff16
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S
"You'll love Nancy!
She's the state’s leading expert on _."
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S
The Lagniappe Method17
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S
"We just published a special report called ‘7 Ways To Protect Your Contracting
Business From Theft.’ Would you like a copy?"
Example:
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S
The A/B Close (Basic/Deluxe)
18
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You?Someone
else?
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Basic? Deluxe?
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S
• Revenue per customer goes up • Closing Ratio goes up
"For the best protection for your home, I recommend __.
But, if budget is a concern, you can choose ___."
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S
The Magic Question19
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S"May I ask you a question?"
“Sure”
"What's most important to you? Price, protection or
service?"
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S
Actively track & report objections
20
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SStaff: "Can I ask you one last question? It might help me be better at my job." Prospect: "Sure."
Staff: "What could we have done to earn your business?"
Prospect: (Answer.)
Staff: "Do I have your permission to try again before your next renewal?" Prospect: "Yes."
Staff: "I'd like to add your name to receive our email bulletin. You'll get tips that could help prevent accidents and claims or just save you money."
Example Conversation
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T Technology
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T
Online Google Reviews21
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T
88% of Consumers Trust Online Reviews as much as Personal Recommendations
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Immediate Online Quote Request Follow
Up Campaign
T
22
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TExample Message
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T
5 & 10 Month Digital Follow Up Campaign
23
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TExample Message
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T
Bonus Secrets!
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T
Subscribe to Nurturing Campaign
24
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T
(They'll get more value from you than they do from their incumbent.)
We know how valuable a highly loyal client is!
Baine & Co : Customer Loyalty in P&C Insurance
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T
Testimonials on website
25
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TColley Insurance sent out their DIO Launch Campaign and received 58 Testimonials in the first hour and 130 in 24 hours
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What kind of prospect has the best closing ratio of all - usually
around 80%.
T26
(And has the lowest cost per lead?)
REFERRALS
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TEarn my loyalty, and I’ll reward you.
7X Lifetime Value of a Low Loyalty Client
25% More Insurance
2.5 Referrals
97% Retention
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THow do you get more referrals?
Nurture them.
Easy. Create loyal customers.
How do you create more loyal customers?
• Welcome them when they're new. • Let them know you're helping when they have a claim. • Congratulate them when they have a birthday. • Help them close gaps when they have them. • Nurture them with wisdom and expertise all year long. • Engage them when they approach renewal.
And how do you do all that?
Use technology to multiply your ability to communicate.
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Conversion Booster Tool
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1 Measure
Closing Ratios for Everyone2
3 Incentives
4 Transparency
5 Scripting
6 Coaching & Role Play
7 “Ride Alongs”
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8 Clear U.S.P
9
Align Marketing & Sales10
No practice quoting
11 Identify top objections & train on solutions
Team Meetings & Meaningful Conversations #112
Team Meetings & Meaningful Conversations #213
Fix any internal processes that interfere with closing14
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We do exit interviews to find out why we didn't close15
Social Proof Handoff16
The Lagniappe Method17
The A/B Close (Basic/Deluxe)18
The Magic Question19
Actively track & report objections20
Online Google Reviews21
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Immediate Online Quote Request Follow Up
5 & 10 Month Digital Follow Up Campaign
Subscribe to Nurturing Campaign
Testimonials on website
22
23
24
25
26 REFERRALS
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Action Items
1. Check Your Email-
• Replay of Today’s Presentation
• Download the Conversion Booster Tool
• Link to slides of presentation
2. Select 3 Items To Implement Today with Your Team
• culture • staff • technology
3. Register for next months Webinar- Account Rounding
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