The health insurance Open Enrollment Period is almost over, so now is the time to shift into high gear. The best way to drive revenues during the OEP and increase customer retention rates is by cross-selling. Cross-selling not only boosts your bottom line and retention rates, it also increases value for your customers, so it’s a win-win! The OEP is the perfect time for cross-selling opportunities, but you have to approach it correctly with the following tips.
- Define the value proposition for your customer– The truth is that many health insurance customers don’t understand their coverage and the benefits that are available to them. This is where you come in! Take the time to explore all the different plans available, what they are eligible for, and explain each cost in each plan. Show them also how much they might save throughout the year by looking at their options with you.
- Look for gaps in your client coverage– If you’re using a CRM, it will keep you up to speed with your customers’ existing policies. You can then create custom reports to assess where and how much extra coverage might be a good fit for those current clients.
- Personalize offerings– Stay on top of what’s going on in your current customers’ lives, and any changes that might mean they’ll need extra coverage, like a vision or dental plan. See if there is other coverage that they could benefit from, such as help with childcare costs, funeral costs, and more.
- Don’t push extra coverage– Instead of cornering or hounding your client, take a consultative approach. Take the time to understand their healthcare needs and anything else that would benefit them throughout the year. Be sure to ask questions, and don’t make any assumptions about what they might need.
- Don’t forget to follow up- The best way to show your customers that you care is by keeping the lines of communication open, and consistently looking for ways to help them save money and get better coverage. You can automate follow-up emails, set reminders, or use your CRM to remind you of appointments.
- Don’t forget to ask for reviews or referrals– This is a great and simple way to bring in more leads. Take the time to ask a customer who you’ve had a positive experience with to provide feedback, post a positive review or a testimonial on your website or social media, or talk to their friends and family about you.
Not only can Benepath save you time and money, but we can also help you nurture your leads and improve your customer service skills. When you work with Benepath, receiving reliable, exclusive leads is the easy part. We provide you with real-time leads through a secured process and give you a customized thank-you page so your leads will be ready for your call. This thank-you page assures leads that they won’t be bounced around between agents and gives them a feeling of connection with you right from the start. And while it’s up to you to nurture your leads, we will be behind you every step of the way. You’ll find, though, that our leads don’t need much nurturing because they will be ready to speak with you and buy your products!
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