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Episode:

Power of Customer Data
Category: Business
Duration: 00:27:07
Publish Date: 2021-04-26 10:00:09
Description:

Sometimes our best lessons are simple reminders. Agents and brokers spend most of their time marketing new business and generating leads. But what about retention? Firms can create a ton of value by cross-selling and upselling existing clients, says Ido Deutsch with insurtech Agentero on this recording. His data proves it. Say your firm has average gross growth 16.6%. Some 50% of that likely is cut by policy and customer churn — so your true net growth is only 8%. Account rounding builds higher retention and long-term wealth. The parallels are there for any sales culture. What are you doing first — online and offline — to truly engage with clients? Is your firm’s only measure of sales and growth a “new customer?” Are you taking care of who you already have? If not, why not?

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