The best sales people understand the importance of developing long-term relationships with prospects, not just clients, in order to increase sales. Accomplished sellers also know the value of keeping a wide and varied stream of two-way communication with current clients to ensure they remain as clients.
Consider a different approach than the norm: Focus on developing a long-term relationship with your prospects so that when they are ready to buy, they think of YOU. In fact, statistics show us that a person may not be ready to seriously consider a change until up to 10 connections have been made. Ten connections!
So what kind of relationships are you building? If it’s one where you tell people all the great things you can offer 90 days before renewal, you may be way off base and not even know it!
Clearly, you face challenges. The internet is a vast resource for consumers who shop for products 24/7. Any web browser can offer up all manners of alternatives to you as THE source for your prospects and clients. As an example, the web routinely reminds consumers that they can cancel their policy at any time and that they don't need to wait until renewal. So how do you head off getting your insurance carrier’s notice that your client is taking a pro-rate and cancelling before the x date?
Simple. You never stop relationship building. What are ways you can get to know a person throughout the calendar year and protect that valuable client relationship?
Consider this scenario:
Paul was referred to me by a mutual business acquaintance. Early in the fall, we discussed some of the challenges he was facing in a rough economy. His current client base was steady, but declining due to the tough market. To make things worse, one of his top accounts went out of business. We talked every week or so, sharing mutual business ideas and war stories. A couple weeks ago, he said he had been talking with his partners about all the cool things he’d been doing since we met. In fact, his business opportunities were up higher than anyone in the firm; he was being referred to new people that made his existing prospect list look like fishing for sardines. He was also introducing me to his other connections. Paul had more referrals on his desk than ever in his career, so much that he had to REALLY get organized to handle all the people that were being sent his way! As a result, I’ve been invited into a partner meeting this week. Paul has a personal story and real world results, not because I tried to ‘sell’ him anything, but because of our ongoing business friendship.
People buy from people they like, and they buy when they are ready; they don’t buy just because you are ready to sell them something.
And here’s another idea…if you’re nervous about building relationships with total strangers, your focus is more on yourself than the other. Think about it, when you’re genuinely interested in another person, nothing you have to say really matters! Keep your focus on the other by caring enough to ask questions about who they are and what matters to them. You’ll be glad you did and you’ll find that they will be, too.
CONSIDER EACH PROSPECT AS A POTENTIAL FRIEND
When you ask questions you’ll uncover genuine challenges that people face. Find out what they are concerned about, be honest if you aren’t the best one to help, and refer them to associates and 
friends that can help make a difference vs. just feel them out for a good sale.
Here are some good questions to prompt services off X date:
“So, Ken, what are some of the biggest challenges you’re seeing in your market right now.” OR
“What is one of the messages you’d like to get across to your [sales] [customer service] team?”
If you have ideas that could help: Offer a story of something that you or someone in your office has done with a similar dilemma. Give specifics without betraying confidences and offer to send material you have via email. OR
Bring up another alternative or another person that may offer some suggestions as well, for example:
“Ed, now that I know more about what you’re facing, I’d like to introduce you to Jason Davis at First National. In fact, I’ll be happy to send Jason an email that you’re looking for some creative ideas on your property deal and I’ll cc you.” OR
“Ed, now that I understand more of the topics you’d like to get through to your sales team, I’m wondering if you’d be open to having me and our Sales Manager come out and do your next sales meeting. We’ll put together an outline of what we’ve discussed and send it over for your thoughts.”
SPECIAL TIP: Be sure to give a BY WHEN and then be sure to keep your word. Your email subject line should say, INTRODUCTION AS PROMISED OR INFORMATION AS PROMISED.
REALITY
Business reality is that there are breakdowns, challenges, conflicts, issues and problems that your prospects face throughout the calendar year – and you – yes you – have services, perspective, experience, connections and insight that you can offer through the same calendar year that may make a big difference to them, if only to get a self-less 2nd opinion.
So, again, focus on the timeline of relationship. Rather than waiting for a possible 18-month cycle, potential business will come to you to talk about your agency’s area of expertise well in advance of that 90-day desperate dash to the finish line.
REVENUE WORK
Bring this topic to your next producer meeting. Have someone be the designated scribe and all of you list the services your agency offers on the white board. Include those that you think are simple and mundane. One of the things we find with our coaching clients is that they forget that over 65% of us are visual learners. That goes for us, and our clients. Your clients and prospects alike don’t know what you really do – they don’t see the work you perform behind the scenes. In this case, what THEY don’t know CAN HURT YOU when it comes to renewal time!
- Use your new list of services to prompt an onsite visit with your top accounts, top prospects and top buddies from the last year’s worth of networking meetings.
- Ask them what areas they would be interested in knowing more about (be sure to include other lines of business) and who they know that may be interested in your approach.
Please, for the love of all things pure and good, do NOT make all of this about insurance.
Ask about their interest in ways you can help them (a) lower costs, (b) increase sales, and (c) bring value to their own client base.
All businesses must grow or they will die. Cultivate worthwhile relationships and do something to make a difference for your clients by talking to them outside the typical conversation on their X date.