The rate of online sales is increasing by the year, and it’s showing no signs of stopping. Just in 2017, we’ve seen a rate of over half the population replace shopping at brick and mortar stores with online retailers. So why is online shopping so popular?
It all comes down to three conveniences:
- Saves time
- Product or service availability
If someone can purchase an item quicker, cheaper, and with more variety, then that’s going to be the winner. While online shopping is more popular with the younger generation, it makes sense for all industry types to invest in the platform.
For insurance specifically, most consumers (especially younger ones) will not only seek professional help, but they will also turn to the net for information. Any company providing both relevant information plus a sales push can capitalize on the masses of consumers shopping around.
Let’s say the average person is shopping online, and they want to buy insurance. Taking what we’ve learned from earlier, this person could be swayed to purchase a policy from you if you provide a couple things for them:
- First, you need to save them time. The majority of people shopping online for insurance want a quote as quickly as possible. Providing a ballpark quote upfront with a form is the surest way to get someone’s information, moving them along to the final sale.
Once they have their quote, you have a hook.
- Second, this person finds value in saving money. When you use the internet as a platform, it saves time and energy that you’d expend collecting information, setting up meetings, etc. This step is good for both you and your prospective client.
Another option could be presenting your quote as the cheapest option alongside competitors. Undercutting your competition also saves the customer time, so they don’t have to shop around and compare.
- Third is streamlining the process so that the client has as little need to leave their house as possible. While it is wiser to use a phone call or face-to-face for more expensive sales, a simple chat on a browser or mobile app could draw in people simply for its ease.
It’s no secret that people will pay more for convenience, just take a look at the number of sandwich places in business. People can make their own sandwich at home for cheaper, but they go out to be taken care of.
Bottom line is that web sales on the internet are where the market is trending. Jumping on the wagon now before it really takes off is really the wisest option. Why do people use the internet for insurance? For the above-stated reasons. Make sure you’re progressing along with the market.