These days, every DI broker is searching for the next big thing in marketing. There’s a belief that technology and innovation will somehow create an easier method for selling disability insurance. While it’s true that tools like our online DI quote engine and broker computer assisted marketing can help, I think it’s important to look backward as well as forward. How did our industry’s veterans achieve marketing success before the Internet age?
Sometimes the simplest things can make the biggest difference when selling disability insurance. And studies suggest that the simple act of showing appreciation for your customers can go a long way in strengthening relationships and making those customers want to come back for more.
Want the easiest, most inexpensive way to show appreciation? Write a thank you note.
An old-fashioned, hand-written thank you note lets customers and business partners know you care. It’s unexpected since so many business people have forgotten this lost art, so when you write one, you instantly make a favorable and lasting impression. You can also halt customer attrition.
Below are the primary reasons customers leave, according to the U.S. Small Business Administration and the U.S. Chamber of Commerce:
- 68% leave because they are upset with the treatment they’ve received (Customer Service)
- 14% are dissatisfied with the product or service
- 9% begin doing business with the competition
- 5% seek alternatives or develop other business relationships
- 3% move away
- 1% die
A simple thank you note can impact that 68% for your business. By reducing your customer defection rate, you can make a big difference in your firm’s bottom line.
To increase disability insurance sales, DI brokers should strive to write 10 thank you notes every day. Write a note to:
- Prospects you spoke with over the phone
- Prospects you met at industry events
- People you meet in social circles and networking events
- People who are totally unrelated to your business but may be good referral sources
Write your notes on a quality personalized notecard and be concise, yet charming. Reference the recent interaction and what you appreciated about the person you’re writing. Your note can be as simple as “Dear Tom, Thank you for your time last Thursday. I enjoyed meeting you and your partners and learning more about your medical practice. Your patient scheduling strategy is quite innovative! Don’t hesitate to call me if you have questions. We welcome the opportunity to assist with your income protection strategy. Warm regards, Dan.” Don’t launch into a sales pitch. Keep it simple and enclose your business card.
What about thank you emails when selling disability insurance?
Although not quite as personal, thank you emails can also be effective. According to Hubspot, thank you emails are twice as engaging as general marketing emails. In Hubspot’s comparison tests, the simple, automated thank you emails generated twice the response of one-time dedicated marketing emails.
Three not-to-be-missed thank you opportunities:
The Follow Up Thank You: This is the thank you we just discussed. It is transactional in nature, designed to respond to a recent interaction. The magnitude of your “thank you” should also match the magnitude of the action the customer took. The greater the purchase or commitment someone makes, the more time, effort and money you should spend thanking them.
The Seasonal Thank You: Besides the immediate thank you emails to prospects that have taken specific action, don’t forget to thank your current customers at regular intervals throughout the year. Thanksgiving is always a no-brainer, but go beyond national or religious holidays.
The Surprise Thank You: Everyone loves to be thanked for no particular reason. Develop a quarterly or even monthly thank you campaign to reward repeat business and customer loyalty.
In this era of high tech, many DI brokers fail to nurture the “high touch” factor, and one of the most effective ways to do that is by practicing the simple, old-fashioned act of saying “thank you.” When your customers feel appreciated, they’re more likely to return to you, more likely to purchase, and more likely to recommend you to their family and friends.
And that’s something you can truly be thankful for.
Need more ideas for selling disability insurance? Check out our free computer assisted marketing services.