Category: Sales

Top Three Ways to Improve Renters Insurance Sales Strategy

Posted by: Agent Hub

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As with any sales-oriented job, selling insurance successfully often requires many skills and experience. Clear communication, helpful suggestions and understanding each individual’s needs are all vitally important to sustaining a great insurance career as an agent. However, if you want to excel in this industry, then it is also imperative you continue to follow industry trends.

Renters insurance may have been something agents hardly sold in the past, but thechanges in homeownership should have you rethinking your sales strategy. Here are three great ways to boost your approach to selling renters insurance.

Know Your Audience

The first step to selling anything — especially something as important as insurance — is to know who you are trying to reach, who your sales leads are and what solutions you can offer to best suit their individual needs. Recent studies show that over 70 percent of those 30 years old or younger are renters, a huge increase from 10 years ago.

This means you could be missing out on selling to a major percentage of millennials entirely if you don’t even try to sell renters insurance. Many property managers and apartment complexes are increasingly requiring renters to purchase insurance when leasing a place to live. Without knowledge of these recent trends, you could be falling behind and losing to the competition.

Utilize Technology

Research shows that millennials highly value convenience and ease of use when making big purchases. Although it is a smart idea for you to be a trustworthy contact that renters can reach over the phone or in person, providing tools and information on your websites and social media profiles can go a long way in helping to close renters insurance sales. Make it as easy as possible for customers to find and contact you, learn about your agency and view you as an approachable and honest insurance agent.

Educate Potential and Current Customers

Providing helpful tools, tips and guidance are some of the best ways you can improve any sales strategy, but even more so when it comes to millennials. Now that creating a YouTube channel and writing blog posts have become standard in nearly every industry, “how to” videos and “ultimate guide to” blogs can be a great way to educate your potential and current customers about the ins and outs of renters insurance and coverage options. When people see you as a trustworthy and reliable resource, they are more likely to become a loyal customer.