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Improving Your Sales Performance With Steve Anderson: Cross-selling and Upselling

Posted on December 06, 2016 by Daniel Taibleson in Digital Insurer

December is a time for reflection. For most of us, this means taking a hard look at the performance of our business and reviewing the numbers. It's a time for us to see how we've done, what's worked, what didn't, and figure out what we might want to change about the way we attack the new year. 

As we head into the last month of the 2016 we're transitioning our focus on the Vertafore blog to help you address one of the most important aspects of your business in 2017: Improving your sales performance. Over the next two months we'll lean heavily on advice from insurance industry experts and veteran agents to find out how they're using technology to dramatically increase sales, your agency's value to carriers, and of course, your customers. 

For those of you coming across the blog for the first time please make sure you take a look back at the 3 main topics we've focused on in 2016 and grab the free e-books associated with each:

1. Managing Your Workforce in the Digital Era

2. Moving Your Business Forward with Data Analytics 

3. Exceeding Customer Expectations

Great, now that you'e had a chance to snag those free downloads, I wanted to start out by highlighting Steve Anderson's comments on cross-selling and up-selling. These tips, and many more, are included in our 4th free e-book on improving your sales performance now available for free download here

Cross-selling and Upselling Advice From Steve Anderson

According to research from Accenture noted in the e-book, almost all carriers agree that agents need to do a better job of cross-selling and upselling. While to some agencies this may seem daunting, to Anderson it simply underscores the opportunity that most agencies are missing with their existing clients.

Anderson cites recent national insurance agent research that reveals that an agents’ average number of policies per personal-lines account is 1.4. And while the “.4” makes it clear that there is some selling going on, he says that figure pales when you compare it to the leading direct writer averages of 2.7–3.3 policies per personal lines

To Anderson, the higher numbers reflect the carriers’ stronger focus. “There’s a sales focus on life insurance and on making sure you have auto, and home, and an umbrella if necessary, and whatever else the customer needs,” he says.

According to Anderson, your first steps can be simple ones. Use your CRM system to set up a basic quarterly email campaign, with the fundamental goal of reconnecting with customers by showing the value you can provide.

The email could be about helping customers protect a recent purchase, such as jewelry or a new vehicle. Or your knowledge of their coverage could start a conversation about their current liability limits, for example, and how much difference a minor premium increase could make in terms of protection.

Regardless of your exact messaging, Anderson firmly believes in the value that a simple touch can provide by solidifying the relationship between the agent and the customer.

Next Steps For Increasing Sales

Your agency's personal connection with your customer's is more important than ever in a digital era. Chapter 3 of the improving your sales performance e-book will provide you with tips and insight on the following topics: 

1. Lead generation 

2. Conversion 

3. Engagement 

4. Structuring your sales approach 

5. Managing and measuring the sales process 

6. Accelerating your operations 

7. Forecasting Revenue 

And that's just one chapter! You can download the entire e-book for free here

daniel taibleson headshot blog vertafore

Daniel Taibleson

As a content marketing manager at Vertafore, Daniel acts as the Editor-in-Chief of the blog, uncovering and telling stories about the intersection of insurance and technology.



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