Medicare’s annual open enrollment period is a busy time for agents, but the work you do now can set the stage for next year. In addition to earning commissions, you can identify opportunities to cross-sell other products and earn referral business that will keep your sales pipeline full in the months to come. But to achieve success, it’s important to maintain high levels of client satisfaction.
Satisfied Clients Lead to More Sales
Unhappy clients can be poached by other agents, leading to a drop in business, but happy clients often generate more sales. This happens in three main ways:
- Cross-selling. Many of your clients have additional insurance needs. If they’re happy with the service you’ve provided and they trust your advice, they may turn to you for help with these needs as well. As long as you have a comprehensive portfolio, you can make additional sales by cross-selling. In addition to boosting your commissions, cross-selling can strengthen client relationships and support loyalty.
- Referral business. Although finding new clients can be challenging, there is at least one notable exception: referrals. When your clients are very satisfied with your service, they are more likely to refer you to friends and family who also need help with insurance. These prospects come to you already inclined to trust you due to the positive recommendation from someone they trust, so the hard part of finding new clients is already done. You can encourage referral business, but if your clients aren’t happy with your service, they’re unlikely to recommend you.
- Online reviews. According to Capitol One Shopping Research, 97% of customers read online reviews of a business before visiting. If unsatisfied clients are leaving negative or mediocre reviews of your agency, you could be losing out on business. On the other hand, positive reviews from satisfied clients could encourage people to choose your agency over your competition.
How to Maintain Client Satisfaction: 6 Critical Traits
If you want to grow your agency or even just maintain your current commission level, you need to prioritize client satisfaction. You can do this by being:
- Thorough. You have a lot of client meetings to get through, but each client requires careful attention. Ask questions to gain a comprehensive understanding of each client’s needs so you can make knowledgeable recommendations.
- Responsive. If your clients have questions or need assistance, it’s important to respond promptly. They may be stressed about coverage issues, and if they don’t hear from you quickly, they may feel neglected.
- Proactive. Although it’s important to respond quickly, don’t always wait for clients to reach out to you. Take the initiative to make sure they’ve received important information, such as the Annual Notice of Change (ANOC) letter in fall and their new insurance cards in January. This is also a good time to check in on them and see if they need help with anything else.
- Ethical. Your clients trust you with important financial and health matters, and that trust needs to be earned. You can demonstrate your reliability by being transparent about your clients’ options and what you can offer and by staying in compliance with all Medicare marketing rules.
- Informative. You’re the expert, and your clients count on you for information. In addition to providing reliable plan information, considering sharing resources on topics that are important to your clients, such as avoiding scams and staying healthy.
- Friendly. A genuine smile and heartfelt greeting can go a long way in strengthening relationships. You can also send out holiday and birthday cards throughout the year.
PTT Financial is here for you, so you can be there for your clients. See how PTT Financial supports agents.