How to create greater value for affluent clients

Most independent insurance agencies will find it hard to compete with their larger competitors when price point is the deciding factor. Corporate giants have the advantage of bargaining in bulk and keeping overhead much lower through advanced technology and operational efficiencies. That makes it critical for small agencies to provide more than monetary value to their prospects.

Low prices are not always the highest value.

While there’s no question that some consumers base their purchases strictly on who has the lowest rates, the most lucrative markets do not. The more affluent a consumer is, the more sophisticated their insurance needs become. In those cases, the operational efficiencies baked into the big firm’s automated platforms vanishes. Successful consumers need more individualized attention to ensure their insurance needs are more than adequately met. That’s where independent insurance agencies are able to outshine their cumbersome competitors.

Your affluent clients want customized strategies for their complex insurance needs.

When it comes to well-to-do clients, independent insurance agencies would do well to focus on providing tailored risk strategies. That’s one way you can differentiate your services without trying to lowball your competition. Affluent clients are often busier than down-market prospects, which means they don’t have the time to shop around for the variety of insurance options that will meet all of their unique needs. You create value when you show these clients that you are capable of customizing strategies and portfolios that address all of their concerns and priorities.

They want personal guidance and expert insights.

Your most well-heeled insurance prospects got that way by listening to experts, and they’ll stay that way by finding a trustworthy insurance specialist who can provide individualized risk management. These prosperous prospects aren’t going to be satisfied with a call center staffer reading responses from a script. They want to speak to a professional, preferably in person. Independent insurance providers add value by being available to their clients before they’re needed. Taking time to sit down with a client and assess their assets and their risks, to learn their financial goals and their challenges differentiates you from the competition.

How to demonstrate your risk management expertise to affluent clients

A powerful marketing campaign provides a platform for you to demonstrate your knowledge, capabilities, and experience to lucrative prospects. They’ll learn how you create greater value and seek you out to handle their complex insurance needs. At AgenciesOnline we specialize in creating cohesive marketing campaigns and adding value to your insurance offerings. Call today to learn how.

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