First, What is Customer Retention?
It’s a measure of how loyal your clients or customers are to your business over a length of time. Good customer retention strategies will keep them coming back for your services or products. How long do your clients stay loyal after they become your client?
Why is it Important?
There are benefits to new enrollments, but there are also benefits to yearly renewals. The potential for referrals increases as clients tend to mention these things over time to family & friends. Focusing on effective communication and making things easy for your clients can help boost your customer retention.
Referral Programs
These are an excellent way to boost customer retention! Word of mouth is a great marketing tool for both businesses and consumers. When it comes to compliant referral programs, there are a few rules to adhere to:
- Gifts cannot be worth more than $15
- Gifts must be given whether someone enrolls or not
- You cannot give meals, cash, or monetary rebates as gifts
Want to learn more about value adds for your clients? Check out our other article on Client Retention and Value Adds!
Communication
Know When to Check In
Don’t just check in when you remember to, try having a system for this. Pay attention to important dates throughout the year, such as enrollment periods and birthdays. In addition to important dates, also keep in mind to check in after enrollment periods, to see how things are going, if there are any issues.
Utilize Multiple Communication Methods
Not everyone in your market checks their email or notices text messages. You can check in with an AEP Countdown email campaign, or send a postcard when another birthday rolls around. With Fidelis Marketing, you can create a plethora of compliant communication materials! Check out our Agent Marketing Hub to learn more about the services we offer.
Make Things Easy
Easy-to-Use Technology
When creating your business cards, you can add a QR code, so clients can simply scan the card and be brought to your website. This makes it simple to book an appointment and keep the “link” handy! Check out our Agent Marketing Hub to see our Business Card Templates. If hosting webinars is your thing, provide a guide on creating an account or for signing up for where the webinars are hosted.
Contacting You, Their Agent
By making it easy for clients to reach you, they can get their questions answered promptly. Make your contact information clear and readily available. If you’re unable to take a call, remember to block off some time to catch up on calls /emails and not leave your client in the dark.
In Closing
It’s important to keep your clients feeling heard, understood, and taken care of! There’s always a lot going on, but making time for your clients keeps them coming back. Creating a compliant referral program, communicating effectively, and making yourself easy to reach can all help increase your customer retention. Helpfulness is at the core of being an insurance agent. Let Fidelis help you serve your clients!
Reach out to your local Sales Director to learn more about customer retention strategies!
Never Miss an Update by Joining Our Mailing List and Following Us on Social Media!