Cross Selling is a great way to get more leads. If your customer already has an auto policy with you, why not see if they will also insure their home, motorcycle or boat? As they say, the best way into the home is through the garage. “Through the garage” is our specialty, did you know Avenge Digital is already one of the top buyers of Auto insurance calls in the US? If we have already matched them to you for auto insurance and you sell other insurance, this is the perfect time to plant the seed for their next insurance need.
When starting to cross sell do not push too hard. First, handle their initial need and then plant the seed for the next sale. They are not going to want to buy a second product from you unless they have the trust and the confidence from the first one.
According to the Gartner Group, 80% of your future business will come from 20% of your current customers. 20%, that’s not much at all. What helps that current 20% want to continue to do business with you is knowing them well. Know about their kids, marriages, divorce, possible retirement. Quotit recommends building a rapport will establish a stronger relationship, thus equating in possible cross sales.
Final tip, create a cross selling system or process. Who doesn’t love a process especially if it is going to help grow your business. A Cross Selling process helps because it will make your Cross Selling system last. Insurance Splash says you do not need to create a whole manual, rather just make a list you want to check off in each Cross Selling instance and share it with your staff, seems easy enough right.
One of the items on the list should be reaching out or at least staying in touch with your clients. This goes back to knowing what is happening in their lives. It could be something as simple as an email or even a phone call. As I said before, you will notice changes in their lives will naturally lead to Cross Selling opportunities.
As usual, there are many more tips for Cross Selling, but if you start with these, i.e. systems and looking at your current customer base, you should see an uptick in business, which in my book is never a bad thing.