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The first sale is the hardest sale. Increase your sales and reduce your efforts by focusing your efforts on the right sources. To do that you have to treat your business like a business, and take ruthlessly control how and where you invest your time. Most agents waste their valuable time responding to and chasing after the wrong sources. Therefore, they don't have the time they need to invest in the right sources. Don't think because you're busy you're doing the right things with the right sources. If you were already doing this it would be reflected in your revenue. Focus on your existing customer base and their future potential because that's one of the easiest ways to increase your sales. But don't look at all existing customers as being equal. Recognize that the potential among these existing customers varies dramatically There are three ways this potential varies. Within your customer base there is a potential for: development of a highly profitable target market for you, repeat and expanded business, and referral to high potential prospects. Failing to identify and recognize highly profitable potential target markets among their existing customers is a costly mistake. Development within a specific target market is one of the easiest ways to develop a highly profitable solid business for you. You have to look beyond product purchases to customer demographics to discover the potential you have for target markets among your customers. Pinpoint the commonalities among your customers with the highest potential so you can find more people just like them. The purpose of the annual review is to identify opportunities for business expansion. Even though all your existing customers can and will eventually buy more from you they won't all do so this year. If you've done a good job of taking notes in past reviews and developing good questions to ask existing customers, you'll be able to develop a list of the customers who are most likely to do additional business this year. It seems like a no brainer that you want to invest more time with these customers than with customers who aren't likely to have additional needs until next year or three years from now, but most agents never take the time to make this evaluation so they invest equal time in both customer groups. Don't ignore and neglect customers who don't have more potential in the immediate future. You can expect low retention rates and dissatisfaction if you do. Make sure you stay connected with every customer to maintain your relationship. Make this process as automated as possible. A referral system will help you to shore up your insurance sales success by making sure you properly maintain your customer relationships. You're supposed to ask for referrals, but you hate doing it because you feel like you're either pressuring your customers to cough up a referral or you're begging for them. You feel that way for good reason. The approach you're using now isn't a very good one. Part of the problem is that you don't know what to ask or how to ask it to get the results you want. As you identify a target market you also want to focus on who within that target market has the greatest potential for you. This will make it easier for your customers to help you to make those connections and they won't feel pressured to do so or like you're begging because you approach it differently.
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About the Article Author
About the author: Cheryl Clausen can help you get unstuck. Look here to see how your Sales Skills measure up. Could you succeed faster if you just had more time? Improve your Time Management Skills, check this out
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