How to Fire A Client Criteria
You’ve heard of firing employees, but how about when you need to fire an insurance client? Firing a client is not an easy task, and you might be worried about what will happen afterwards.
“I always say that fear is never a reason to do anything. So if you’re keeping clients that are dragging down your business, it’s kind of like… rip the BAND-AID.”
We believe that fear is not a reason to keep a client who is dragging down your business, and instead, you need to learn how to fire an insurance client like ripping off a BAND-AID.
Here’s the thing: if your staff constantly has to say “yes” to low-revenue, needy clients, who are actually terrorizing them, then they’ll have to say “no” to other things. Things that can really elevate your business, like cross-selling.
So the big question is: how do you fire an insurance client? All this week we’ll be breaking down the answers to that question. And the first thing we need to address is identifying who is a candidate for this, or who we should be firing.
- One of our guidelines is attitude. If a client is particularly rude and nasty to your team, they’re creating an unprofessional work environment, and can give your team unnecessary stress. It’s not one-time offenders who typically fall into this category, but repeat offenders.
- Other candidates might be people who have consistent payment challenges, where there’s no hope they’ll get fixed. These customers can drag resources, and tend to be upset about late fees.
- A third qualification for firing clients is something we call activities versus revenue. Not every agency client is profitable. Some we need to nurture, but some will never be profitable. And we need to be able to identify those unprofitable clients, and move on.
So at the end of the day, you need to come up with criteria for how to fire an insurance client. If you’re spending too much time and resources with needy, difficult clients, those resource could be directed somewhere much more valuable.
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