CEMENT RELATIONSHIPS TO BUILD RETENTION
Service today should center on building lasting relationships-with the customer and with the companies the agency represents.
Two fundamental types of CSR contact have been identified: (1) service-related contact-specifically, whatever is transaction oriented (claims, endorsement requests, billing questions, etc.); and (2) sales-related contact. Examples of the latter include the client who's thinking about buying a new vehicle and wants to know the exact premium increase to expect, or the client who may be expanding the business and wants to know what to consider for insurance purposes.
Being in the agency's leading support position and focusing more on relationship-building, today's CSR can help establish overall agency goals for customer retention. The goals you suggest for customer retention should be built on a strong foundation of reviewing before renewing.
An comprehensive coverage and client review plan includes the following:
- The specific goals the agency can and should aim for (such as a $10 commission increase per Personal Lines account or a $500 premium increase per Commercial Lines account). Perhaps you'll set your goals in terms of coverage offerings-for example, conducting a Flood insurance discussion with every policyholder in the agency.
- The types of markets and customers you can most effectively approach. If you are competitive in small Commercial accounts, determine which industry or professional group you haven't really capitalized on yet. Then start attending that group's meetings and contributing to their newsletter as part of your strategy.
- The definition of specific tasks necessary for building a review and renewal process. Determine the kind of letters (informative or educational, probing or oriented toward needs assessment, or just building goodwill) that must be written. Decide when and who will make telephone contact with specific prospects and clients.
- Specific goals during each service and sales contact. For instance, identify at least five or ten things you specifically want to learn (such as family members, occupation, hobbies, favorite vacation spots, educational background) about each customer whom you don't know yet.
- The additional support needed to accomplish the established goals. Reaching your goals may require more attention to training programs, staff and/or producer assistance, and company relationships, to mention a few specific issues.
An Ongoing Campaign
It is important to recognize that building relationships is part of the CSR's everyday duties, not a one- or five-year project. Your true interest lies in your customers and company representatives as people, not just for the business role they have assumed for the moment. Build comments and questions revealing that interest into your repertoire of greetings and chitchat. Find out about their hobbies, their families, their true interests at work, and so on. Expressing interest in their lives will enhance your relationships with them.
Once your agency's goals are established and the plan for developing long-term relationships has begun to take shape, begin implementing procedures focused on retention. Effective letter-writing, use of automation (not just thinking about it!), and improved personal communications will become common practice.
Concentrating on long-term relationships is really no more than dedicating yourself to regular, sincere communication with clients. Their appreciation for the job you do will only grow.