Increase your revenues.
When it comes to increasing insurance revenues, make sure you pick the “lowest hanging fruit” first. The perfect opportunity exists to cross-sell or up-sell your present customers. All you need to do is implement a tactic called account rounding.
What is account rounding? It’s one of the most effective, but under-utilized sales and marketing tactics available to every insurance agency. It's a tactic you can use with your accounts, whether personal lines or commercial, in order to convince them to use more agency services.
This alone accomplishes two objectives.
- It immediately increases your overall revenue with that particular account.
- You increase the customer lifetime value (CLV) of the account as their use of your services deepens.
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