OEP Checklist: Cross-Selling Do’s and Don’ts for Insurance Agents

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.

Cross-Selling Do’sillustration of an agent with a loud speaker over his head

  • 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.

Cross-Selling Don’ts

illustration of people shaking hands
Do NOT forget to follow up with your new customers and existing ones as well!
  • 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.

Looking For Leads?

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!

To get more information, fill out the form below or call 866-368-0377.

5 No-Fail Open Enrollment Marketing Ideas for Your Insurance Agency

The health insurance Open Enrollment Period is here, and for many insurance agents, this is a crazy and overwhelming time. Not only will you be trying to manage new leads, but you’ll be trying to take care of client requests and renewals. All of this while trying to stay organized, and dealing with any other issues that come up at your agency. But, while there will be a lot on your plate during this time, you still have to find a way to stay on top of your marketing strategy, since one of the main things that will help you be successful during the Open Enrollment Period is driving conversions.

Why Marketing Is So Important

As mentioned, the OEP is a critical time for insurance agents, because you have both prospective and current clients who will need your help finding a health insurance policy. Some might be looking for a completely new plan, while others will be looking to make changes, and some might be looking for policies to add to their current plan. Knowing how to market your insurance agency will help you reach the right audience at the right time, which will help you maximize your conversion rate as you save time and money.

Marketing Tactics To Consider

1. Publish strategic SEO-driven content

SEO written in the middle with connections to words related to SEO
The best way to get traffic to your business is by creating SEO-driven content.

There will be a lot of people searching online for health insurance options before they make a purchase during the OEP, so you need to be as far up in the search rankings as possible. This means publishing SEO-driven content using targeted keywords and answering the questions that your target audience is asking online. Blogs are a great way to get your business in front of inquiring leads, just make sure you research all the keywords and topics your customers are searching for.

2. Get your agency a Google My Business listing

What pops up when someone searches for your specific insurance agency on Google? Is there a picture of your agency? Is the correct address listed? Are the hours and phone numbers correct?

You want to make sure that info about your agency is easily accessible and correct, so get yourself a Google My Business listing. To create a listing, first sign in to Google Maps. Then you can add your business easily: Enter your address in the search bar. On the left, in the Business Profile, click add your business. After that, just follow the on-screen instructions to finish signing up for your Business Profile.

3. Ask for reviews and referrals

Around 89% of consumers read reviews before making a purchase, and 92% of consumers trust referrals from people they know, so it’s very important to have plenty of both. You can ask for referrals from current customers, and use them to your advantage to bring in more customers. As for reviews, make sure that your ratings are up on the Google My Business listing you created. And if you have any negative reviews, make sure that you respond to them and try to rectify the situation.

4. Look for cross-selling opportunities

Cross-selling opportunities can boost your sales and customer retention, as well as customer satisfaction rate. Before your renewal meeting with your current clients, make sure to always check for cross-selling opportunities. You can conduct comprehensive audience research to identify what your clients’ needs are, which should be done regularly – after all, customer needs are always changing. For example, if they just got married, engaged, or are having a baby, you can open up a conversation about looking into a healthcare plan that will meet their new needs.

To increase your chances of making a sale, implement your cross-selling strategy within 30 days of your initial conversation. Timing is critical, and if you wait past this period, your efforts will be less effective.

5. Use automated email campaignshand with lots of mail leaving it

Automated email campaigns will help you stay top-of-mind with new and prospective clients. Make sure to tailor the information in your emails to your audience, and to personalize your message to individuals as they move through the sales funnel. You can create many types of emails with different purposes, such as product promotions, follow-ups, and notifications to upcoming changes in their policy.

How Benepath Can Help You Succeed

Marketing is one of the most important things to focus on for your business to bring in and convert more leads. But if you need help finding leads that are qualified and ready to be converted, Benepath can help! When you work with Benepath, receiving reliable, exclusive leads is the easy part.

We provide 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. We offer the leads, and, while it is up to you to properly nurture your leads, we’ll be behind you every step of the way. You’ll find, though, that our leads don’t need much nurturing because they are ready to speak with you and buy your product! But if they do need some nurturing, follow the effective ways mentioned above to seal the deal. To get more information, fill out the form below or call 866-368-0377.

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