How to Evaluate a Prospective New Client

How to Evaluate a Prospective New Client

If you are a first-time insurance agent, you would be eager to build a strong client base. However, it would be a folly to sign every prospect that you meet. It is crucial to be scrupulous about the clients that you sign on so that the relationship will be mutually profitable. This is why client evaluation is a very important aspect of creating a loyal and profitable client base.

Client Evaluation and Growing Agency

storyblocks-image-of-happy-teacher-talking-to-business-people-at-seminar_h6zpd7t7zf-1-e1563201454200-2You might feel that it is counter-intuitive to say no to a client. As a first time agent, you have to start from the ground up and build your client list from scratch. Having zero clients is frightening, but don’t let fear trick you into signing prospects that are not going to be profitable in the long run. You have to always look at the big picture.

Be prudent and consider the value of every client. There are certain things to take into consideration while evaluating a client, like determine whether a prospect is worth your commitment and time.

Understand what is important to each client and where they are in their lives. Are they looking for just a single policy for the cheapest price, or are they looking to create a complete portfolio to cover every aspect of their lives, professionally and personally? If you feel that a client is incredibly demanding and that you would be spending significant amounts of time serving them, but never growing their insurance portfolio, you might want to rethink whether they will be a good fit for your agency.

The Best Business Strategies for Agency Owners

To put it bluntly, retaining demanding and time-consuming clients is not worth the effort. When you connect with potential clients check whether they will bring in more business to you either in terms of their own, but also how they may be able to help you get more clients. Once you have signed a great client, getting them to refer your agency to their circle is going to help you gain more great clients. Retaining clients is hard work, but your efforts could lead to priceless word of mouth referrals.

When you Join AAI, we are here to guide and support you. Contact us today, for any more information on client evaluation, and our team will be happy to help.