5 Ways to Use Technology to Cross-Sell Insurance Products
With the recent Black Friday, everyone’s mind is on sales. But for an insurance agent, sales is a year-round concern. Your agency’s profits rely on strategies that generate steady sales. Few tactics are as effective as cross-sells. Not only does cross-selling give your agency’s income a boost, it also increases the satisfaction of client’s looking for greater personalization in their insurance agency’s offerings.
According to a survey conducted by the business experts at Accenture, 3 in 5 consumers appreciate being offered relevant product recommendations. In fact, they’re more likely to make a purchase when a retailer makes a suggestion based on their past purchases and preferences. That makes cross-selling a critical part of any independent agency’s marketing and sales toolbox.
Thanks to technological advances, a good deal of personalized product recommendations can be automated, making it an easy win for your agency. Integrate these five tech-based cross-selling techniques to make clients happier and increase revenue.
Your agency’s blog provides a platform for demonstrating your authority while providing a valuable educational resource for clients and prospects. Each blog post also provides an ideal context for cross-sells. Add inline recommendations to posts based on each site visitor’s search history or buyer journey.
Your monthly newsletter keeps clients up to date on your agency’s news, offers insights on seasonal hazards, and provides tips for reducing those risks. Savvy agents segment their newsletter lists based on client demographics and preferences, creating another opportunity for inserting relevant product recommendations.
Your transactional emails automate interactions based on certain client actions, such as requesting a quote on auto insurance or making a payment on life insurance. These emails can also be used to promote supplementary insurance offerings or to promote related products.
More and more insurance agencies are using clients’ smartphone as a marketing tool. If you’re automating your SMS marketing, consider adding a quick plug for products that would complement your clients’ existing policies in your texts.
Retargeting allows agencies to offer up ads to cross-sell products on social media, search engines, and other sites visited by clients. When a client visits your site, a retargeting pixel tags the visitor with an anonymous browser cookie. As they travel to other sites, the cookie goes with them, triggering your retargeting ads to display wherever you’re running them.