boost your closing ratio: 23 easy techniques to turn more prospects into insurance customers

Boost Your Conversion Rate: 23 Easy Ways To Turn

More Prospects Into Customers

Remember, this is a ‘live’ webinar.

You can type your questions here.

Introducing: Michael Jans, CEOAgency Revolution.

Thank you to our industry partners

Thank you to our sponsor

Boost Your Conversion Rate: 23 Easy Ways To Turn

More Prospects Into Customers

+DelightAt Every Stage in the Process

Attract Convert Optimize Retain

The ACOR + Marketing Model

Prospects Buyers Clients PromotersLeads

C O RA

Convert

COptimize

ORetain

RAttract

$$$$$$$

$$$Cost

Leverage

Wealth and Equity

Reliable Income

New Income

Future Income

C O RA

Raw Number

Closing Ratio

Policies Per

Customer

Retention Rate

Convert More Leads Into Customers

• Quoting without closing is a waste • Converting existing leads is high leverage • Culture, Staff & Technology

3 Segments:

C Culture

S Staff

T Technology

23 Easy Ways to turn more

prospects into customers

C Culture

Measure

what really is our closing ratio?

Closing Ratios for Everyone2

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%

3 Incentives

Instant RewardsPer Sale

Long Term RewardsRatio or Raw Number

Individual

4 Transparency

CWhiteboard Technique

5 Scripting

But scripts sound SO awkward

6 Coaching & Role Play

7 “Ride Alongs”

CListening to Calls

8 Clear U.S.P

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

9 Align Marketing & Sales

Prospects Buyers Clients PromotersLeads

C O RA

• 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?

10 No practice quoting

• Who will we quote?

• Who WON’T we quote?

11 Identify top objections & train on solutions

C“It seems expensive”

“I hate firing my current broker”

“I’ll have to think about it”

Team Meetings & Meaningful Conversations

Part #1

CWe routinely talk about Conversion Ratios, Techniques, What's Working and What's Not

Team Meetings & Meaningful Conversations

Part #2

CWe routinely talk about setting & achieving goals.

Fix any internal processes that interfere

with closing

• Slow response times

• No follow up

• “Placer" not getting quotes fast enough

CWe do exit interviews to find out

why we didn't close

S Staff

Social Proof Handoff16

"You'll love Nancy!

She's the state’s leading expert on _."

The Lagniappe Method17

"We just published a special report called ‘7 Ways To Protect Your Contracting

Business From Theft.’ Would you like a copy?"

Example:

The A/B Close (Basic/Deluxe)

You?Someone

Basic? Deluxe?

• 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 ___."

The Magic Question19

S"May I ask you a question?"

“Sure”

"What's most important to you? Price, protection or

service?"

Actively track & report objections

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

T Technology

Online Google Reviews21

88% of Consumers Trust Online Reviews as much as Personal Recommendations

Immediate Online Quote Request Follow

Up Campaign

TExample Message

5 & 10 Month Digital Follow Up Campaign

TExample Message

Bonus Secrets!

Subscribe to Nurturing Campaign

(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

Testimonials on website

TColley Insurance sent out their DIO Launch Campaign and received 58 Testimonials in the first hour and 130 in 24 hours

What kind of prospect has the best closing ratio of all - usually

around 80%.

(And has the lowest cost per lead?)

REFERRALS

TEarn my loyalty, and I’ll reward you.

7X Lifetime Value of a Low Loyalty Client

25% More Insurance

2.5 Referrals

97% Retention

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.

Conversion Booster Tool

1 Measure

Closing Ratios for Everyone2

3 Incentives

4 Transparency

5 Scripting

6 Coaching & Role Play

7 “Ride Alongs”

8 Clear U.S.P

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

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

Immediate Online Quote Request Follow Up

5 & 10 Month Digital Follow Up Campaign

Subscribe to Nurturing Campaign

Testimonials on website

26 REFERRALS

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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