Dealing with Changing Customer Expectations

Meeting customer expectations is a must for growing your business. In the past, meeting customer expectations didn’t mean much more than showing you were good at your job and being attentive to your customers’ needs. With the rise of social media, though, and the resulting awareness that customers have of your competitors, as well as the information they now have at their fingertips, the expectations of customers have shifted. Online customers have expectations that might seem over the top sometimes, so it’s important to understand how you can continue to meet their demands in this shifting landscape.

What Are Customer Expectations?

drawing of a person with their hand on their head and different colored lines behind them
Customer expectations continue to grow, so you have to keep up for your business to grow.

Customer expectations can be defined as the behaviors and processes that customers anticipate when they interact with a brand or company. So what do customers want when they come to you? According to a recent survey by Salesforce, around 66% of respondents expect brands to understand their needs, and a large majority of customers are very focused on customer experience. 80% consider the customer experience to be as important as the products and services they are looking to buy. 

This means meeting customer expectations is about more than just offering quality service and competitive pricing. Thanks to social media and the internet, you have to go above and beyond to build customer loyalty.

How to Be Ready to Meet Customer Expectations

Most people head online when searching for information or a product/service to buy, and searching for information on insurance or for plans is no exception. So, if you want to meet the growing expectations of customers, you will need to adopt modern technology and capitalize on omnichannel marketing and automation. 

Some ways that you can meet and exceed customer expectations include:

  • Personalized service- To give customers a better experience in the digital world, you need to personalize your customers’ journey with every interaction. Don’t rely on a bot to answer them, instead talk to them yourself if at all possible. Offering a personalized experience will grow loyalty for your brand: 80% of customers say they are likely to patronize a brand if that brand offers personalized experiences. 
  • Stay on top of interactions-  Customers who interact with businesses online expect instant replies that will help them solve their issues quickly. After all, the internet is all about instant gratification!  Studies bear this out: according to reports, around 28% of customers expect a response on social media within an hour. Even better, you can anticipate your interactions with your customers by using email automation to help inform your customers about renewal dates and plans that might be right for them.
  • Be straightforward- It’s important to make your website and social media accounts as streamlined as possible. No one likes to go to a website and have to search for their answers, or go through a lengthy process to find what they’re looking for. Customers look for quick and straightforward answers to their questions without having to scroll through your website or social media pages.illustration of a person with a headset on and little bubbles of support pictures around

With the internet at everyone’s fingertips, customers are becoming less patient and are requiring more than ever from businesses. The best way to keep up with growing expectations from customers is to use marketing tools that will help you automate personalized responses, and create informative content that is easy to access. 

In the meantime, if you’re looking for new leads and to grow your business, Benepath can help! We offer exclusive leads who are ready to buy – all you have to do is tell us when you are available to work with them. Benepath will provide you with better tools, more guidance, unsurpassed sales training, and techniques from the most successful agents and trainers in the industry, not to mention the best leads available. To get more information, fill out the form above, or call 866-368-0377.

Inbound Marketing for Insurance Companies, Agencies, and Agents

Want to get your business noticed? Want a leg up on your competition? If you answered yes to these questions, you need to get working on your inbound marketing! Inbound marketing is the best way for you to build relationships and tailor your offerings to each customer’s needs. But what is inbound marketing, and how exactly do you get your message out there? 

Getting Startedshoes with the word start in front of them

Inbound marketing is a style of marketing that focuses on attracting customers to you. It’s a great alternative to more traditional, or outbound, marketing, which seeks out customers and tries to get their business with things like cold calls, email blasts, and direct mail. Customers these days are a little wary of that kind of outbound marketing, and instead tend to want to feel like they are in control of the choices they make, and to do their own research into the businesses they choose. 

So, if you can tap into that desire by being there with engaging content and helpful advice when they come searching, inbound marketing can be great for your business. It can bring a good amount of traffic to your website and build trust with prospects, and eventually turn them into customers. One of the first and best ways to get started with inbound marketing is to focus on your current customer’s questions and use those to create content. 

Give The People What They Want!

How do you answer the questions that customers have? You have to begin by putting yourself in your customer’s shoes. If you were looking for insurance, what would you want to know? What would you be searching for on the internet? 

In general, most customers will want to find information on these 5 things:

  1. Price – The price of a product is most people’s number one issue, especially since the cost of living continues to rise. Customers will want at least a ballpark figure for insurance plans; it’s important to be as transparent as possible when answering this question so you can build trust with your leads. 
  2. Comparisons– Most people will do some shopping around, and will want to compare their options before pulling the trigger. They want a side-by-side comparison of plans, so you should create some content based on the differences between their options. For example, you can do a comparison of insurance companies or specific plans: gold vs silver vs bronze, etc.
  3. Drawbacks – Not everything about insurance is perfect, but it’s your job to show prospects that insurance plans are all about protection, and purchasing one means they won’t have to deal with a large bill after receiving care. You can build trust by creating content that shows you understand and are being honest about the drawbacks of certain plans, such as high deductible plans.
  4. Reviews– Highlighting positive reviews is super important, because referrals are everything when it comes to business growth. Provide some customer testimonials to show that you can be trusted and that you offer excellent value and service. And if you have negative reviews? Address them promptly and respectfully, and use them to your advantage. 

Inbound Marketing Tactics

the word SEO circled with little bubble around
Creating meaningful content that customers need is a great way to attract new leads and keep current customers.

Your inbound marketing strategy should include content that you create and share in multiple ways. The main thing is to focus on helping people, rather than just selling to them, since sharing important information will make them trust you and trust working with you. 

Again, inbound marketing is all about getting customers to come to you, so you need to (as inbound marketing experts say) “attract, engage, and delight” them with your content. You can start doing this by creating an engaging and resourceful website that will answer the questions of the average customer looking for insurance, as well as by posting regularly on social media. 

While engaging on social media, pay attention to the questions you’re being asked by prospects, and use that to create valuable content, which can take the form of a blog on your website, or any number of other creative forms. For example, you can create videos and infographics, or even offer free downloadable guides. If you have a strong online presence and can answer the questions people have, you will be the person they turn to when they are ready to buy insurance. 

If you are looking to grow your business, Benepath can help! We offer exclusive leads who are ready to buy, all you have to do is tell us when you are available to work with them. Benepath will provide you with better tools, more guidance, unsurpassed sales training, and techniques from the most successful agents and trainers in the industry, not to mention the best leads available. To get more information, fill out the form above, or call 866-368-0377.

Use the Eisenhower Matrix to Joyfully Declutter Your To-Do List

If you’ve never heard of the Eisenhower Matrix, allow us to change your life. The Eisenhower Matrix, based on a method employed by President Dwight D. Eisenhower, is a simple productivity tool for organizing and prioritizing tasks, and making distinctions between tasks that are “urgent” and “important.” Using this method helped Eisenhower achieve many things, including ending the Korean War, and beginning construction on the Interstate Highway System, among other amazing achievements. So how can the Eisenhower Matrix help you declutter your to-do list and help grow your business?

Urgent Vs. Importantwarning sign, exclamation point in a red triangle

The Eisenhower Matrix can help you go beyond being merely busy, efficient, or even productive, and make you more effective in your work life. To get started with this method, you will need to categorize your to-do list by figuring out what is “urgent” and what is “important.” What’s the difference? 

  • Urgent tasks are those that require immediate action; there will probably be consequences if they are not completed on time. Think of anything you’d consider “putting out fires.”
  • Important tasks are things that contribute to long-term goals and require thoughtful planning and action.

Next, organize your list by separating tasks into four cross-sectioned categories:

  • Important-Urgent – Things that require immediate action and contribute to long-term goals and values
  • Not Important-Urgent – Tasks that need to be done quickly, but do not contribute to long-term goals
  • Important-Not Urgent- Things that require more thought and focus, but do not need to be done immediately
  • Not Important-Not Urgent – Unnecessary tasks that in many cases you can delegate or take off your list completely

How It Works

In order to categorize how much each task matters to you and your business, and how time-sensitive it is, you should create your own matrix. Draw a square and divide it into four quadrants; each box has a different way of dealing with the items you’ve placed into it. Label your boxes in the following ways:a pencil with a list checked off

  • Do – In this quadrant, put your urgent/important tasks, things that need to be done immediately, before even thinking about anything else. 
  • Decide – This quadrant will have your not urgent/important tasks, which means they need to be done, but you can schedule them for a later date. 
  • Delegate – Here you will place your urgent/unimportant tasks, or tasks that are important to other people and need to get done, but are not as important to you. You can delegate these tasks to someone who is better equipped to deal with them.
  • Delete – These are your not urgent/unimportant tasks or the ones that you should take off of your list, since they neither further your goals nor make you more productive. 

Breaking down your tasks in this way can help to clear the clutter, and achieve more balance and focus in your business life. That means the Eisenhower Matrix is the perfect method for an insurance agent: it will help you decide what is important to move your business forward, whether that is creating content, building a referral rewards system, or improving your customer service. You decide which tasks go into the boxes of your matrix, and what will help you get closer to your goal of gaining more leads and customers. 

If you are looking to grow your business, Benepath can help! We offer exclusive leads who are ready to buy, all you have to do is tell us when you are available to work with them. Benepath will provide you with better tools, more guidance, unsurpassed sales training, and techniques from the most successful agents and trainers in the industry, not to mention the best leads available. To get more information, fill out the form above, or call 866-368-0377.

Have You Tried Some of These Lesser-Known Marketing Strategies?

Your marketing strategy is incredibly important: the more people you reach with it, the more successful your business will be. That means your marketing strategy needs to be well thought out, and include a variety of tactics to help you stay ahead of the competition. Whether you’ve been putting your agency out there already, or you are just beginning to sketch out a marketing plan, we can give you some lesser-known marketing tricks that can help you bring in more business. 

Recycle Content

green recycle symbol
Take some old content and recycle it with a twist!

Coming up with new content can be time-consuming and overwhelming; it can also feel frustrating if you’ve been producing content for a while, since you might feel like you’ve covered everything! So if you find yourself with writer’s block, try recycling some of the content that you already have. Perform an analysis to see which of your content has been most successful, and turn it into something new. For example, make it into an infographic, turn it into a quick blog post, or revisit it and look at it from another angle.

Mix It Up

There are many avenues you can explore when it comes to marketing, including social media and your engaging website. But don’t stop there! Mix it up, and consider using different marketing strategies, including outdoor advertising, radio and/or TV ads, and any other traditional methods you want to consider dipping your toes into. Just make sure that your ads are targeted to your audience, and your content provides the information they need. 

Re-Brand Yourself

Your business’ brand is everything; having a strong brand is important to your success, because it shows people who you are and what you represent. If you find your brand is lacking, consider re-branding yourself to attract some new customers. Determine what your strongest attributes are, pinpoint what your unique value proposition is; when you have figured these out, the next step is to prove your value, and represent your brand and what you stand for. 

Direct Mail

You might think snail mail is an outdated way of reaching people, but nothing could be further from the truth! Direct mail is effective, which is why many businesses continue to use this approach to reach new and existing customers. In fact, people are often more likely to remember a business and use it in the future if they receive mail from that business, especially if it includes promotions or eye-catching information.

Answer Questions On Quora & Other Sites

illustration of a computer with a website on the screen
Find out if you can be helpful on sites where people have questions about insurance.

If you want to show that you know your stuff, and get your name out there, try heading to sites where people ask questions, like Quora or answers.com. Create an account on these sites, search for questions in the field of insurance,  and then provide as much helpful information as you can. This can help build your brand, and allow people to see you, know you, and seek help from you. 

If you haven’t started marketing your business yet, consider the aforementioned techniques to help. But even if you’re a marketing veteran, these tips might help push you to a new level. After all, the more you put yourself out there, the more customers will come your way!

In the meantime, if you’re looking for new leads and to grow your business, Benepath can help! We offer exclusive leads who are ready to buy – all you have to do is tell us when you are available to work with them. Benepath will provide you with better tools, more guidance, unsurpassed sales training, and techniques from the most successful agents and trainers in the industry, not to mention the best leads available. To get more information, fill out the form above, or call 866-368-0377.

Keeping the Lines of Communication Open With Your Customers

As an insurance agent, you need to know that communicating with your clients is vital to the success of your business. You have to communicate their options to them, explain their coverage, answer any questions they have, and check up on them from time to time to make sure they’re happy, or see if they need a new policy. But when it comes to maintaining ongoing communication with customers, many agents fall a little short: they begin to think that because they’ve already landed a customer, all they have to do is fire off an email now and then to check on them and that’s it. 

So it’s no wonder that 60% of customers don’t believe they get any additional value from agents after they’ve purchased a plan, or that a whopping 86% think that communication with their agent is lacking! Don’t fall victim to one of these statistics: there are simple ways to keep communication going with your customers, so they feel that they’ve made the right choice to work with you.

Educate Your Customersbook open with the pages creating a heart

It’s always important to remind your customers just how important their insurance coverage is. Offer them the benefit of your knowledge of the industry, and at the same time, you’ll give them a feeling of security that you know your stuff. Just remember to avoid jargon and technical terms, which can be off-putting to many people; you’re better off explaining concepts with terms everyone will understand. 

If your customers feel secure with you as their agent, they’re more likely to become loyal customers, and nothing is better than a loyal customer. A loyal customer delivers more than 250% more referrals than your average less-than-satisfied customer; not only that, but a loyal customer renews at a rate of 97%, and buys 25% more insurance.

Be Consistent

As we stated earlier, many insurance customers feel like they aren’t getting any additional value after they’ve purchased an insurance plan, and more than 44% of customers say they haven’t received communication from their agent within the last 18 months. Leaving your customers hanging like this can spell disaster for your business! The best way to retain and grow your customer base is by being consistent with your communications. Don’t rely on simply remembering to check up on your customers, though: set reminders in your calendar on your computer or phone, so you’re sure to contact your customers every month or two.illustration of communication methods

You can also streamline communication, such as email, phone calls, and direct mailing by adopting a client portal that centralizes your client communication in one place. You can ask which form of communication each of your customers prefers, and make sure to contact them through that specific channel. Communicating with your customers in the way they prefer will make them feel like they have an easy way to communicate with you, and will also make them more comfortable and satisfied with you. 

If you are looking for more prospects, or to grow your business, Benepath can help. We offer exclusive leads who are ready to buy – all you have to do is tell us when you are available to work with them. Benepath will provide you with better tools, more guidance, unsurpassed sales training, and techniques from the most successful agents and trainers in the industry, not to mention the best leads available. To get more information, fill out the form above, or call 866-368-0377.

Reasons Why Exclusive Lead Generation Is a Smart Investment

Your leads and customers are everything when it comes to your business. They are the ones who keep your business going, bring in more business through referrals, and help your business grow. But you can’t simply rely on your current customer renewing their plans to keep your business growing, you will also need to bring in new leads. We get that generating leads is one of the toughest parts of your job, so if you’re feeling a bit stuck on ways to find them, it’s time to consider exclusive leads, like those that Benepath offers. 

So why are exclusive leads a smart investment for an agent? 

gold trophy
Exclusive leads give you a competitive edge over the competition.

They Give You A Competitive Edge

Exclusive leads are a smart investment because they give you a competitive advantage. With an exclusive lead, you are their first point of contact; they will talk to you and only you, which increases your chances of making a sale. Getting exclusive leads is more of an investment, but the result is worth it: you will convert the lead to a customer in less time than you will with other leads, leaving you more time to do other things!

They Are Quality Leads

Tired of getting leads who just aren’t ready to buy, or who insist they don’t need insurance or help with it? With exclusive leads, you don’t have to worry about those issues. Exclusive leads are leads who are ready to buy, which saves you time and money.

They Offer Demographic Advantages

People always need insurance, but you can’t sell to everyone in the country, so you have to focus more on leads in your region. With exclusive leads, you can target more specific demographics in your area. You can set specific filters for geographic location, age range, risk, desired benefit amount, and so forth, allowing you to target your ideal customers more effectively.

They Don’t Depend on Brand Awarenesshands shaking in a laptop screen

If you have just started selling insurance, and you have not had time to build your brand awareness, exclusive leads are perfect for you! People like to work with businesses they have heard of or that they have a certain perception of, but with exclusive leads, you are the only one talking to the lead, so they will not be bouncing around agencies looking for help. You are their first point of contact, so they are more likely to put their trust in you and the knowledge you can provide, as well as the insurance plans you are offering them. 

If you are looking for new exclusive leads to grow your business, Benepath can help! We offer exclusive leads who are ready to buy – all you have to do is tell us when you are available to work with them. Benepath will provide you with better tools, more guidance, unsurpassed sales training, and techniques from the most successful agents and trainers in the industry, not to mention the best leads available. To get more information, fill out the form above, or call 866-368-0377.

Make Your Referral Rewards Program Work for You!

When consumers are looking to make a purchase, where do they turn for help making their decision? Some head to the internet, but a huge amount look to their family and friends for information about a business or product. In fact, 9 out of 10 customers trust a recommendation that they receive from someone they know. This is something that you should be taking advantage of! And you can do so by creating a referral rewards program for your current customers, so you can pull in more leads for your agency. If you aren’t sure how to get started on building the right referral rewards program for your business, have no fear! With a little work, and using the following tips, you will have a successful referral rewards program in no time.

What Is A Referral Program?

A referral program is a growth marketing tactic that encourages existing customers to recommend your services and business to their friends, family, and colleagues. Otherwise known as word-of-mouth marketing, the purpose of these referral programs is to attract new leads who will be a good match for your business. Referral programs are a great way to get qualified leads who are a good match for your agency because these leads will be familiar with your business and its reputation through someone that they know and trust personally. These programs tend to be worth the work you put into them: according to Nielsen, people are 4 times more likely to buy when referred by a friend. 

Creating a Successful Referral Rewards Program

woman blowing confetti from a book
Think of something fun for your customers that they would want to participate in.

1. Make It Fun

The first step to creating a referral rewards program is to brainstorm ways to make yours fun and enticing enough that your current customers will want to participate in it. And a great way to get customers interested is to offer a reward to those who participate, so they will be more likely to take the time to engage with the program – and an extra added bonus will be that they’ll feel appreciated! You can offer things like gift cards for a local coffee shop or scratch-off tickets. Think of things that you would like to get, and make it fun!

Don’t limit the rewards to just the customers whose referrals end up buying from you, but you can also consider creating a tiered referral program. For example, the base level can receive a $5 gift card, and the second tier might get a bigger prize like a restaurant gift card, or maybe even a gas card. 

2. Know Your Customers & Spread the Word

Who are your most loyal customers? Target the customers with whom you have built a great relationship, and make sure they’re the first you add to your referral program. But don’t stop there: keep on adding customers to the list!

The next thing you will need to do is build a campaign to reach the customers you have chosen so you can spread the word about your referral rewards program. Write an email with a brief description of your fun program and send it out, remembering to check in once they’ve received the info, as well as to stay on top of your program. Make sure you’re giving out rewards earned in a timely fashion! Remember, too, to mention the program to any new customers. 

3. Showcase the Winners

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Show off the winners of your referral program to entice other customers to participate.

Oftentimes customers will not want to participate in a referral program because they think it will be a waste of time, or they won’t actually get anything. You have to show everyone that your program is real and that you’re doing what you’ve promised to do. You can do so by showcasing your winners! Post about your customers and their rewards on your social media accounts and/or website, and share news about your program and those who have benefited from it in a newsletter that you send to current customers and prospects. 

Word-of-mouth is one of the best ways you can get new customers and prospects to notice your business and want to work with you. Take the time to plan out your perfect referral rewards program and share the news with your loyal and long-time customers – then get ready for the new business to flow in! 

In the meantime, if you are looking for new leads and to grow your business, Benepath can help! We offer exclusive leads who are ready to buy – all you have to do is tell us when you are available to work with them. Benepath will provide you with better tools, more guidance, unsurpassed sales training, and techniques from the most successful agents and trainers in the industry, not to mention the best leads available. To get more information, fill out the form above, or call 866-368-0377.

Want a High ROI? Here’s Where to Begin

If you’ve been trying out multiple marketing tactics to bring in new leads, you’re probably wondering if the work you’re putting in is worth it. When you put your money toward marketing, you want that investment to come back to you at least two-fold, so you need to calculate if you’re getting a return on investment that’s worth the money you’re putting in. Some marketing strategies might have worked for you, and some of them might have failed, but if you’re struggling with your marketing, we have some fool-proof ways to get a high ROI.

Focus On Current Customers

Are you spending all of your time (and money) focusing on marketing that will bring in new prospects and leads?  Getting new customers is important, but don’t forget that your current customers are your bread and butter. When you market to your current customers, you can sell more policies, boost your retention rates, and get more referrals. 

In fact, one major study found that cold calling prospects led to a closing rate of 11%, whereas referral prospects had a closing rate of close to 40%. This means that the chance of successful sales nearly quadrupled when prospecting from referrals, proving there is a lot of value in marketing to existing customers, retaining them, and keeping them satisfied so you can continue to get referrals.   

Email Or Social?hand holding a cell phone with conversation bubbles coming out of it

The debate over which is the better marketing tool is a long and ongoing one between many agents, and those in the business world in general. So does focusing on social media or email marketing get you a higher ROI? It might surprise you to find out that when you post something on Facebook, you often have only a 1 to 2% chance of followers seeing your post and interacting with it, but email marketing has an open rate of 21.7%. We’re not saying that you shouldn’t focus on posting on social media as part of your overall marketing strategy, but if you want to reach more people, you should focus on your email marketing list.

Automated Marketing

Have you thought about automating your marketing in order to make things easier for you? Many agents use automated marketing to free up valuable time, so they can spend it on other aspects of their business, such as customer service or actually selling insurance. Automated marketing involves campaign email marketing and posting on social media, all of which are predetermined, programmed, and executed using marketing automation software. The program can set up marketing campaigns and track web visitors, as well as measure the performance of your marketing campaigns. According to Gleanster, CMOs at top-performing companies indicate that their most compelling reason for implementing marketing automation is to increase revenue (79%) and get higher quality leads (76%).

Work With Benepath

paper airplanes flying towards a red target
Benepath provides you with ready to buy leads, and the tools to succeed.

But what if you are looking for an easier and cheaper way to get a high ROI? Well, consider taking advantage of the amazing benefits of Benepath! This is one sure way to guarantee the biggest bang for your buck.  We manage 100% of our own marketing, utilizing search, content, and social media to generate leads and deliver them to agents across the country. We use your feedback to make continual improvements to our campaigns so you can maximize your sales. We will provide exclusive ready-to-buy leads so you can speak to more interested consumers and start making more sales! Your time is important, so work more effectively with our exclusive leads.

Benepath will provide you with better tools, more guidance, unsurpassed sales training, and techniques from the most successful agents and trainers in the industry, not to mention the best leads available. To get more information, fill out the form above, or call 866-368-0377.

How SWOT Analysis Can Benefit Insurance Agents

Selling insurance can be complicated, and sometimes getting ahead takes more than just knowing about your products. After all, if you’re an independent agent, you’re also a small business owner, so you have to know how to keep your business growing. One really useful way to make sure you’re doing this is to conduct a SWOT analysis, or an analysis that determines the strengths, weaknesses, opportunities, and threats to your agency. 

What is a SWOT analysis?

hand writing different words about analysis
A SWOT analysis can help you determine how to make your business more successful.

SWOT analyses are used by many business owners in all industries to find ways to improve their businesses and sell more products or services. These analyses require that you look at four categories that relate to your business: its strengths, weaknesses, opportunities, and threats. Doing so will give you a better understanding of the internal workings of your organization, as well as a better understanding of how you compare to your competition. 

To conduct a SWOT analysis, you’ll need to take a good look at your business and do some serious brainstorming, and then put everything down in writing. The best way to do this is to create a grid divided into four quadrants headed “strengths,” “weaknesses,” “opportunities,” and “threats,” with your finalized ideas in the appropriate category. So what should you be thinking about for each of these categories?

Strengths:

Your business’ strengths include the things you feel set your agency apart from other firms, as well as things like: 

  • All of the obvious positive aspects of your business, like its financial strength, its location, and its size. For example, if you are the only agency in town, you might have very little direct competition in your area, so make that work for you.
  • Positive aspects that might take a little more creativity to see. For example, if you feel like your market is limited to local private homeowners and small businesses, remember that having a limited number of clients and selling a limited number of products can make you more focused and knowledgeable. 
  • Any collaborative efforts between other insurance agencies and your own.  For example, you might belong to a pool of independently owned insurance agencies in the same city that offer customers a variety of coverage options from which to choose. This collaborative relationship can be beneficial for all parties involved, giving clients excellent choices while allowing them to deal with fewer agents overall.

Weaknesses:

A SWOT analysis doesn’t only focus on the strengths of your agency: you also need to take a close look at the weaknesses of your agency. These weaknesses might not necessarily be negative aspects of your business; rather, you should be thinking about factors that might need improvement in order for you to increase sales. For example: 

  • If you have not been in business very long, or if your company is new to the area, you might have trouble bringing in clients, so you will need to present more information about the services you offer that set you apart from agencies with a longer history. 
  • You should also include any weaknesses related to products and pricing, so you can be open and honest about these issues with your customers, and they can understand exactly what they are getting.
  • You should also address any weaknesses regarding your agency’s structure, such as staffing levels or lack of office space. 

Opportunities:

green sign with arrows pointing different ways with the word possibilities next to them
When conducting your analysis, find possible opportunities for your business that can help it succeed.

Your  SWOT analysis should look at strengths and weaknesses (or the internal factors that influence your business), but it should also look at external factors: the opportunities and threats facing your business. First, take a look at any opportunities that are present in the market. For example, are there any new companies moving into your area that you could sell to? Are competing agencies closing or retiring soon? 

Your SWOT analysis should also include notable events in the market that could affect your agency in a positive or negative way.

Threats:

Next, you’ll need to take a look at the other external factors that can affect your business: any real or perceived threats to your business that could decrease sales. Your SWOT analysis should include any factors that could affect your agency’s sales and the steps you can take to counteract them. 

  • Threats can come in the form of a changing marketplace: for example, a new highway bypassing your town and cutting into the residential area you serve could be detrimental to sales if it causes some of your customers to move out of town. 
  • But threats can also come in the form of a good old-fashioned competitor: a competitor opening up across town might be a more serious threat than a change in customer demographics. 

If you’re an insurance agent looking to boost your sales, using a SWOT analysis to determine how you can improve your business and sell more insurance policies is a great step to take. Remember, doing a SWOT analysis entails considering all the positive and negative factors related to your agency that could affect sales, but this is done to get a better understanding of how to improve your business, not as a form of self-criticism. Your analysis can be as simple or complex as you need it to be, and should only take a few minutes of your time. It is simply meant to help you identify issues that might affect your business, and find ways to resolve these issues, so you can increase both revenue and customer satisfaction.

After you have taken the time to conduct a SWOT analysis, you can then begin focusing on how you can bring in more leads and what needs to be done to do so. In the meantime, if you need to grow your customer base, Benepath can help. We offer exclusive leads who are ready to buy – all you have to do is tell us when you are available to work with them. Benepath will provide you with better tools, more guidance, unsurpassed sales training, and techniques from the most successful agents and trainers in the industry, not to mention the best leads available. To get more information, fill out the form above, or call 866-368-0377.

4 Great Benefits of Selling Insurance for a Living

If you’ve been wondering if going into insurance sales is a good career choice for you, wonder no more! Becoming an insurance agent, especially an independent agent, is a smart career choice for many people because not only does this profession only require a high-school diploma, once you become good at it, you can make six figures. If you have great people skills, are always willing to learn and stay informed, and want to help people, selling insurance is the perfect career move for you. Being an insurance agent offers many rewards other jobs simply do not offer.

1. You’ll be your own boss

One of the biggest benefits of working as an independent insurance agent is the ability to be your own boss. As an independent agent, you don’t have to answer to anyone but yourself: you create your own schedule, set your own hours, and remain in control of how successful your business is. You don’t have to answer to anyone about meeting your numbers for the month or request time off from anyone. Being your own boss, you get to determine what works for you while still growing your business.

2. You can make more moneypile of hundred dollar bill stacks

Another great benefit of being an independent agent is that you’ll be able to make more money than you would if you were working for someone else’s business. Instead of putting money into someone else’s pockets, you will be growing your own business, and making money for yourself.

Not only that, but the longer you work in the industry, the more money you will earn. Unlike working for a company that sets your salary, if you sell insurance, you can make as much money as you want. The more insurance you sell, the more customers you acquire, and the more renewals you have, the more money you will see go straight into your pockets.

3. You get to genuinely help people

If you’re interested in helping people, selling insurance is the perfect profession for you. Instead of helping another business earn money, you will be helping customers on a personal basis. That means, as an independent agent, you’ll not only have job security and steady income growth, but you’ll also get the satisfaction of helping others stay safe, healthy, and financially secure by finding them the right insurance plan.

4. Insurance is something that will always be needed person's hand coming out of a laptop holding a life savor floatie giving it to another hand out of a laptop across

Need we say more? Insurance is something that everyone needs, so the insurance industry will always be around. And as an insurance agent, you’ll always have customers, since people always feel more secure with their insurance-buying decisions when they have a knowledgeable person like you to help them.

Selling insurance is a rewarding career, with many benefits, as long as you can find prospects who are ready to buy. If you are just starting out as an agent, you might find bringing in leads a little bit difficult. Even if you’re an experienced agent, you might find it a little harder than usual to bring in leads during slow periods, so if you need to grow your customer base, Benepath can help. We offer exclusive leads who are ready to buy – all you have to do is tell us when you are available to work with them. 

Benepath will provide you with better tools, more guidance, unsurpassed sales training, and techniques from the most successful agents and trainers in the industry, not to mention the best leads available. To get more information, fill out the form above, or call 866-368-0377.

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