Increased pressures to capture a bigger market share via the selling of Financial Services products to existing customers has touched many bureaus. Some owners shove back, a few take the strain as a portion of Holborn UAE and perish early and many others really do something about it.
In fact, it’s a fact that individuals are more likely to buy from people they’ve purchased from before so it might appear that agency owners may observe the synergistic possibilities and act upon them. But promoting financial services to existing customers is often more difficult than it might appear.
Since many Property and Casualty carriers possess good Financial Services goods or good enough, to compete with Big Life and Financial Services men, they’re rarely effective at forcing their representatives to do so.
The main reason is often associated with what is referred to as the “Path of Least Resistance. ” It is correct that it’s a lot easier to market something required (in case you’ve got a mortgage or mortgage that you must insure it) than it is to sell something that is merely “Nice to do,” like providing for the family in more ways than you, or even providing for a comfortable retirement or just plain paying for a college education.
In that respect, where many agency owners struggle with the question of need, the reality is that most every customers, when asked the question; what do you want in life? They’ll say something like that;
1. Live a lifetime with minimal fiscal worries
2. Give a College Education for the children.
3. Retire in comfort
4. Know my loved ones could make it if I’m gone
That’s it! Only those four items and all of them require Financial Services. Every property and casualty broker can boost their 25% when they fulfilled just one of these common needs. And it’s correct that their customer would rather buy those products out of them compared to Life Insurance Agent that has been bugging them for the past several months. Why don’t they? Response: Your property and casualty agent neglects to inquire.