4 ways your insurance CRM can boost your sales

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The Excel days for managing contacts, are gone forever for many agents in the field. The proliferation of simple-to-use, yet, feature-loaded CRMs has afforded insurance agents enterprise-level management capabilities. These apps can free up your time, your most precious commodity that you cannot store away for future use. Insurance-focused CRM apps focus on the actual needs of the agent and allow for faster set up. Once you get yourself comfortable using your insurance CRM, you’ll discover many ways to save time, automate routine jobs, improve customer care and foremost boost your results.

How can you boost your sales with an insurance CRM?

1. Know your ROI when acquiring leads

The paramount question for agents is: “How do I get new, valuable, leads?” Over time, insurance agents develop their own habits and techniques. Getting referrals from your clients is the holy grail of sales. And you need to travel the distance in order to get to your holy grail of unsolicited referrals. Part of that distance will take you through the uncharted back-country of investing in unproven lead vendors and their lists.

How can you know which lead vendors — to whom you trust your money — are worth coming back to? By this, I mean, knowing which vendor lists produce the most and highest-commission closings for you. One way is to ask around fellow agents how it has worked for them. This is definitely one way to go about it. But, it still has to do with other agents, not yourself.

So, the most reliable way, the one that reflects your own investment and effort, is to track and measure the Return-on-Investment (ROI) on the lead-vendors you’ve bought leads from.

After few iterations you will know where to invest your money.

An industry-specific system, namely a CRM for insurance agents, should provide you with actionable stats and insights to enable you to make a savvy business decision as to which lead vendor to partner with.

2. Integrate and measure customer communication

The reality is that you need to reach out to people and help them make the best decision on their insurance needs. Reaching out to prospects can take many forms, nowadays. Not everybody shares the same personality; and you should take that into account when deciding how to communicate best.

Deciding which path to follow when reaching out to new prospects, should not be complicated. If you have worked with your insurance CRM and keep all your communication channels within a single gateway, then you’re a step ahead to make that close.

Like a good pilot, you should fly your business trusting your control panel. You should make sure though that your control panel is fed with useful and meaningful data.

Set up your insurance CRM to handle this information so that is available to you when you need it.
Next time you pick up the phone, you know exactly what went on with this prospect.

3. Simplify regular tasks

This is a no-brainer. Though, don’t let automation-fever get a hold on you. Not all automation is created equal. Focus on what will bring you the highest yield.

Start by identifying which processes and tasks are worth automating. Take a look at everything you are doing and set up benchmarks. Only then will you know how your various little steps take you closer to a sale. Automate email writing, by using ready-made templates that you write once. Set up the insurance CRM to send these emails for you. When? When you say so. Go back to step #2 at regular intervals and check your stats.

Let you insurance CRM help you with lead-scoring. Don’t spend time trying to find out who is warmer. Identify which leads are ready to move to a sale and which require further nurturing. Leave no lead behind. Invest your valuable time to pursue sales-ready leads at the right time.

Moving your leads across the sales funnel can be fun, because you can reflect on your hard effort. Identify your touch-points with your leads and automate those interactions. Score those interactions and let your insurance CRM move them across the low-funnel nurturing events to high-value tasks, where you take over.

4. Use digital marketing tools to improve your outbound marketing and increase sales

Not all marketing campaigns are created equal. The same way, not all insurance agents are the same. You can definitely take advantage of ready-made templates to email your prospects, and you should. Don’t stay on that path for too long though. Discover what brings your leads closer to a sale and re-adjust your marketing messages. Personalize your campaigns and make sure that you track and measure every change that you make.

Perform regular health-checks to your email marketing campaigns. Identify changes to your click-through rates and conversions. Set up your insurance CRM to alert you when such changes occur.

Identify and measure which digital inbound channels drive qualified inbound leads to your business. Have you ever wondered how your social media footprint works for you? This is not a post about maximizing your social medial impact, but you should be knowledgeable how social media impact your sales, overall. Send regular email newsletters, use segmented mailing lists, schedule automated campaigns and — always — keep your message relevant and personalized.

Lay out your marketing strategy and establish benchmark points for each channel. Monitor sales funnel conversions and don’t forget to contact those leads!

Tools are useful, but insurance is a high-touch business

An insurance CRM is your indispensable partner as an agent, but it cannot do the job for you. Insurance is a high-touch business and nothing compares to reaching out to prospects and connecting with them. This can be measured and can be improved, thus boosting your sales.

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