Every insurance agent’s biggest question is this: How am I going to find my next client?
It’s no easy feat making sure your business stays stocked with policy holders who are eager to purchase your products, but the good news is that X-Dates can help unveil your next leads!
In this guide, we’re teaching you how to leverage insurance X-Dates for your business to find more clients, plus how to craft the perfect message in this strategy.
What Are X-Dates in Insurance & How Can You Use Them to Win More Clients?
Simply put, X-Dates are dates when an insurance policy expires for a client. As an insurance agent, X-Dates are valuable pieces of information to find leads for your business.
When you find prospects that have upcoming expiring policies, this allows you to create a list of policy holders to target who may benefit from your insurance products.
For instance, if your policies are more affordable than the one a lead has currently, informing them of these savings when their policy is about to expire is a great way to win new business.
How to Create an Irresistible X-Date Marketing Strategy
So, how do you create an attractive offer for prospects using an X-Date marketing strategy? Here are five steps to follow to ensure you find qualified leads and know how to craft an enticing message.
1. Search for ideal prospects
Knowing when a lead’s policy is set to expire is key for targeting them at the right time (which we’ll touch on later).
But, with hundreds of policy holders in your area, we’ve made it easy for you to find high-quality leads that align with your business.
Cole’s X-Dates tool offers your lead generation search the following benefits:
- Custom lead generation search tool.
- Easy conversation scheduling.
- Local homeowner contact information.
Now, leads are easy to uncover within a matter of seconds, which greatly reduces the amount of time and effort spent on your search.
2. Strategize your message
Once you’ve found homeowners you’d like to reach out to in your campaign, the next step is knowing what it is you’ll say.
This is arguably the most important step in your strategy since your messaging is what persuades the client to purchase your policy.
When you craft an offer message to your client, remember to discuss what makes your policy more affordable or beneficial over the competition.
It might help to sit down and compare your policy to the competition before crafting your message. This will help get an idea on their positioning, pricing, and USP so you can compare it to yours.
It would also help to address yourself concerns or questions prospects might have about your product that makes them hesitant to buy, like:
- What is the cost of the policy?
- How does it benefit the homeowner?
- Does a high-risk location affect the policy in terms of pricing?
3. Reach out in a timely manner
When you find prospects that have approaching X-Dates, determining the right time to reach out is key. After all, you don’t want to reach out too early and give the lead a chance at forgetting your offer. On the flip side, you don’t want to reach out too late and run the risk of the client finding someone else.
So, according to the best practices, the ideal time to reach out first to a lead is anywhere between 60-90 days before a policy expires. This is still very generous in time, so remember that you’ll likely need to follow up at least once, maybe twice, after sending the initial message.
4. Make your offer enticing & beneficial
One of the biggest struggles insurance agents face when finding clients is convincing the prospect that their policy is something that’s needed. The extra expense to pay for the policy causes a lot of rejection in this field, which is why it’s important for your X-Date strategy to be appealing to those you target.
While it’s no secret that homeowner’s insurance can be expensive, it still provides benefits to the policy holder that are important to highlight in your message:
- The protection from total loss or damage.
- Coverage for those who might be injured on the homeowner’s property.
- Personal liability coverage.
This step is great to practice storytelling for your marketing strategy. For example, tell a story to the prospect of what their life could be like if they didn’t have your policy. Allowing them to envision how your service will better their lives and keep them protected and be the push you need to win more business.
5. Keep conversations personal
At the end of the day, it’s important to remember that you’re speaking with another human being and building trust for clients is key. No one likes feeling directly sold to (even though that’s what you’re doing), so keeping conversations personal, friendly, and not overly sales-y is incredibly important. It’s also important to be respectful of the prospect’s wishes and not to be pushy. If they say they’re not interested and don’t wish to speak, respect their wishes and move onto the next prospect.
The Bottom Line
See prospects with soon-to-expire X-Dates? Then it’s time to start compiling a list of leads and sending out your crafted message.
While you’re at it, make sure you sweeten the deal even more by informing leads about the value of having your homeowner’s insurance policy in their back pocket. With premiums being seen as an unnecessary added expense in today’s economy, leading with the value is key for positing your product as a must-have for your leads that get them to purchase your product.
