Insurance Agents and Brokers Can Survive the Recession by Attracting Insurance Referrals
Will the recession change the way business is conducted? You bet it will. Will it affect the insurance industry? I think you know the answer to that.
Insurance agents and brokers certainly won’t be immune from the effects of the recession.
A logical consequence of the recession is that consumers are going to be more particular than ever about who they do business with. Unless there is an emotional reason to continue doing business with a particular person or business, the consumer will more than likely do some comparative shopping.
Insurance referrals are going to play a huge role in determining which insurance agents and brokers make it through the recession. For those who do survive, it could mean huge financial success awaits them. Here’s what I mean.
Those insurance agents and brokers who have developed a relationship with their clients, should have little problem obtaining insurance referrals. More than likely, some of these agents and brokers have developed a “by referral only business.” They will an easy time obtaining insurance referrals because they have taken the time to become friends with their clients. There is an emotional attachment that in most cases will trump a lesser cost.
The downside is not many insurance agents and brokers do this because it is simply too time consuming. Many of these insurance agents and brokers will not survive the recession. Obviously, for those who make it, there will be less and less competition for the consumers’ money… big upside, big downside.
Insurance agents and brokers who have not developed a relationship with their client list will have a very difficult time getting insurance referrals because consumers are not going to stand for it. During these difficult economic times consumers want to be treated special before giving up their hard earned money.
Right now and into the future conventional marketing practices are becoming less affective. Consumers don’t care about insurance agents and brokers they don’t know. So, doesn’t it make sense to get to know your clients and develop an emotional connection?
It’s now imperative that in order to get all the insurance referrals needed to prosper during economic hard times that business professionals re-establish these emotional connections. The true professional understands this and has (or is) doing something about it.
Professional insurance agents and brokers who have developed a relationship with their clients should have little problem getting insurance referrals. They have earned the right to ask because they have gone out of their way to develop a relationship.
For those agents who really developed relationships to a satisfactory level, don’t despair (yet). There is still time, but it’s running out quickly.
If you want to attract insurance referrals and avoid becoming a casualty of this recession, here is your call to action. Get connected with a person or company that can show you how to build and nurture relationships without having to spend a bunch of time or money. They are out there, but you need to act quickly.
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Mick Hunt is a business consultant who personally works with insurance agents and brokers to dramatically increase insurance referrals. Mick works with both agents and brokers and helps them save both time and money. He can be reached at http://MickHunt.com or call 610-670-5133. Mick can also be reached by email at ReferralsByMick@comcast.net Article Source: http://EzineArticles.com/?expert=Mick_Hunt |
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