The 80/20 Rule – Build Better Relationships with Clients

Filed in Articles, Blog by on February 10, 2013 0 Comments

Leveraging business intelligence regularly is a big part of success as an insurance sales professional. However, equally important is maintaining a good relationship with the clients you already have. The 80/20 rule states that 80% of your business comes from 20% of your contacts.

The stronger your professional relationship is with your current customers, the more likely they are to stick with you for the long haul – turning to you when they need to make changes in current coverage, look to explore new options, or are asked by friends if they can recommend someone.

Given how busy your average day already is, how can you maintain these relationships while still going after the new business you need to keep forging ahead? Here are a few easy tips:

  1. Check In Occasionally: It only takes a few minutes to send a quick “How are things going?” email to your current customers. Such an email does not have to be long or over-involved. You can include news about new plans or additions to the coverage they already have. Alternately, it could simply be a link to an interesting related news story or a simple customer satisfaction survey. These quick missives demonstrate to your current clients that you are more than just a salesperson who forgot about them as soon as those checks were cashed, but that you are a useful resource who is truly interested.
  2. Give The Star Treatment: Even the toughest, most hard-nosed business people like to feel a little appreciated. If you can offer a little to your clients, it goes a long way. Make your clients feel like they are part of an exclusive group by offering short webinars on related subjects, access to informative articles, or just an invitation to a small “valued client” get-together. A little wine and cheese goes a long way…
  3. Become Better Informed: You probably did a little background research into your customer’s company before you closed the deal. Make a habit of staying abreast of news about their company. Comment when appropriate. Set a Google Alert for the company’s name and you will be notified about any press releases they send or media mentions they get. Then, when appropriate, send another quick email. For example, if a client releases a statement about a new hire, that’s great for you. Not only can you congratulate them, but it is also a good time to bring up the company’s health insurance coverage.

These tips will help to you maintain your current relationships; however, inevitably, there is always a time when you need new clients. When it’s that time, rely on business intelligence to fill your pipeline. This gives you a head start when generating new clients!

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About the Author ()

John is the VP of Business Development at The PT Services Group. He researches new types of business and manages and initiates strategic, corporate-level relationships to expand exposure for The PT Services Group. John came to The PT Services Group in 2011. Before that, he owned and operated an Ameriprise Financial Services franchise for 16 years.

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