Overcoming Resistance To Cross-Selling Insurance
All week we’ve been focusing on overcoming resistance to cross-selling in insurance, and have introduced our favorite cross-selling strategy to you, LEE. This acronym stands for Look, Educate, and Encourage, and after going through all three parts of this strategy over the past few days, we now want to bring it all together. Here’s why LEE is an amazing strategy, which can help you in overcoming resistance to cross-selling insurance.
“The reality is leads are very expensive today in insurance, we need better strategies to help grow our agencies.”
1. Look
When you stop to look at your clients and their accounts, you’re really taking a whole new approach to your work. When you’re speeding through requests, rapidly taking transactions, and changing policies as quickly as possible, you’re going to miss big things, like opportunities to cross-sell. When you slow down and look at the account and its open activity, you can get a game plan together. It may seem like you have no time to cross-sell, but we find that this is a false belief. It can take 30 seconds to carefully look through an account, and that investment will have an invaluable payoff.
2. Educate
After you look through your clients activity and account, now you can educate. This is when you make recommendations about coverage, and you’re able to do this because you’re their trusted advisor. Instead of cross-selling, you’re using your knowledge and position to cross-educate. Even if a client doesn’t say yes at this time, you’re still making progress. Think of it like a sports game, where you keep moving the ball down the field. Patience is critical in cross-selling.
3. Encourage
If a client says they don’t want to take your recommendations, this is when you can encourage them to reconsider. When it comes from a genuine place of concern for their coverage and liabilities, your clients will feel that. You can encourage them to take another look because you’re the trusted expert. This isn’t the same as trying to sell them something they don’t need, or beating them over the head with it.
The bottom line is that everybody in your agency has to have the intention to cross-sell. Most of the time, the biggest hurdles are the perception of time (or not having enough of it) and comfort levels. Remember that cross-selling is huge for boosting retention and bringing in new revenue.
If you’re struggling to master cross-selling on your own, we recommend you take a look at our brand new cross-selling course. We talk about all of the components and angles imaginable, in order to help you become an expert at cross-selling.
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