Today we are talking about a topic that has become more prevalent than ever in the insurance market currently and that is the importance of attracting the right clients and that being purposely selective with your clientele. If you are in the insurance industry right now, you know that there is just not enough time in the day. So we have to be so selective on how we spend our time, if we want to continue to provide quality and service that makes us proud of the work we do. So grab your coffee and lets get into it!!
Not everyone is a prospect.
Alright, I am going to start with an unpopular opinion. Not everyone is a prospect. It might sound counterintuitive, but casting a wide net isn't always the best strategy. In fact, it often leads to wasted time and frustration for both you and the person who reached out to you. Did you hear what I just said ??? I said person not prospect. That person reaching out to you is also a person, with a life, children, jobs and time constraints. You need to switch your thought process from prospect to person. Does this PERSON fit with my business? Instead of saying yes to any person and throwing them in an “Everyone is a prospect” mentality, I save both of us time. I believe in being bluntly honest with people from the get-go.
Why? Because honesty breeds respect.
By being upfront about the type of clientele I cater to and the services I provide, I set clear expectations and build trust with potential clients. Sure, some may not be the right fit for my business at the moment, but they'll remember my honesty and professionalism and they will respect me more for it and maybe they will remember when they are in a place where they do fit into the type of clientele I have, they will want to come back to me because they will remember that I was so focused on this type of clientele that I’m not watered down with just anyone who wants a quick quote.
Think of it like a magnet. Magnets don't attract everything—they're purposefully selective. Similarly, I believe in being purposefully selective with the clients I work with. I don't want to be known as the agent who offers quick over-the-phone quotes to anyone who asks. That's not the service I provide. Instead, I focus on building long-term relationships with clients who value my expertise and are willing to invest time in finding the right insurance program for their needs. And if someone isn't the right fit for my services, I'm not afraid to say so. Because at the end of the day, honesty is what people truly appreciate. And if I can't help someone, I'll do my best to point them in the direction of someone who can. It's about putting the client's needs first, even if it means referring them elsewhere. So, the next time you're tempted to cast a wide net in search of clients,
Remember this: honesty, selectivity, and integrity are the keys to building a quality book and a great reputation
Why It's Okay to Not Be Easy to Work With
Let me share a personal anecdote with you. As a Private Client Advisor, my approach isn’t necessarily like those quick quote carriers you see on TV. I’m not here to provide a one-size-fits-all solution.
Instead, I take the time to gather all of my clients' information. I ask them about their job, not just to ensure they get all occupation discounts, but also to understand how their occupation may pose greater liability risks. I dive deeper. I ask about their children—are they of driving age? This isn’t just small talk; it’s about assessing additional liability risks. A young child involved in sports could potentially cause harm to another child. And what about that rental property? Do the tenants have renters’ insurance? Are you, as the property owner, carrying additional liability because of factors like pets or frequent parties?
Now, you might be thinking, "Doesn’t this take too much time? Isn’t it easier to just provide a quick quote and move on?" Well, yes, it does take time. And honestly, I don’t want to be "easy" to work with—at least not in the traditional sense. Because for me, it’s not about speed; it’s about accuracy. It’s about ensuring that we’ve assessed all possible risks so that my client can have peace of mind. So, the next time someone tells you that you need to be easy to work with,
Remember this: It’s okay to take your time. It’s okay to dive deep. Because sometimes, building a quality book isn’t about being easy; it’s about being thorough.
Attracting the right clients
So how do we attract the right clients? In the insurance industry, referrals are the HEART of our business! Why? Because your current clients are more likely to refer clients who are similar to them. This phenomenon isn't just coincidence; it's rooted in human psychology. People tend to associate with others who share similar values, lifestyles, and needs. So, when a satisfied client refers someone to you, chances are, they're referring someone who fits your ideal client profile. To capitalize on this powerful referral network, it's crucial to nurture your existing client relationships. Provide exceptional service, stay in touch regularly, and show genuine care and concern for their needs. By doing so, you not only increase the likelihood of receiving referrals but also deepen the loyalty and trust of your current clients.
While client referrals are invaluable, they're not the only source of potential clients. Building strategic partnerships with organizations like Provisors and fostering relationships with financial planners can also be fruitful referral sources. However, it's essential to be clear with these referral sources about your ideal client profile. Honesty and respect are paramount when establishing and maintaining these partnerships. Clearly communicate the type of clients you're best equipped to serve so that when referrals come your way, they align with your expertise and capabilities. Avoid the temptation to accept clients who don't fit your ideal profile out of fear of disappointing your referral partners.
Honesty builds trust, and trust is the foundation of any successful partnership.
In today's digital age, social media has become a powerful tool for connecting with potential clients. While it may be the hardest source to vet, it's still a viable avenue for attracting the right clients—if approached strategically. When leveraging social media, it's essential to tailor your content to resonate with your ideal client. Share insights, tips, and resources that address their specific needs and challenges. For example, if your ideal client is a professional juggling career and parenthood, share content that speaks to their unique circumstances. By consistently providing value through your social media channels, you position yourself as a trusted advisor and resource. Over time, this can attract the attention of individuals and organizations who align with your values and appreciate your expertise.
Attracting the right clients is about more than just bringing in anyone who shows interest. It’s about finding those individuals or organizations who align with your values, appreciate your expertise, and are genuinely interested in what you have to offer.
Self-Select: Being confident in who the right clients are for you!
Get used to saying what your ideal client is, I don’t care if you have to say it to yourself all day until you are confident in it and can stand on it when speaking to prospects.
Here’s a good example: My name is Kristina Vaughn, I am the Senior Account Executive at CAL and I specialize in partnering with affluent individuals and families coast to coast. My focus is on creating personalized insurance programs designed to safeguard their liability and assets. My ideal client is one who prioritizes a long-term partnership with their private client advisor. More than just seeking the best price, my ideal client values my expertise, deep knowledge, and unwavering commitment to providing the highest level of care and protection.
Today, we dove into the unpopular opinion : Not everyone is a prospect, honesty is always the best policy, and it's okay to not be easy to work with. We've explored the critical question: how do we attract the right clients? Remember, being confident in who your ideal client is essential to building a quality book that you can be proud of.
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