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What are the advantages of staying top of mind with your existing insurance customers?

“Staying top of mind” is a phrase most commonly used in marketing and acquisition, but it’s just as important and applicable to your existing customer base.

Social psychologist, Robert Zajonc, researched and coined the “Mere Exposure Effect” as the principle that familiarity leads to preference.

When given a choice between two things, people usually prefer whichever one they’re more familiar with or have been exposed to more often, even if it’s lower quality. (Medium)

Now, we’re definitely not suggesting that as long as you’re top of mind, you don’t need to focus on quality service.

Quite the opposite, actually - imagine having a combined effect of providing the highest quality service and staying top of mind!

We’re covering some of the major benefits you’ll see at your agency when you’re top of mind with your existing customers while providing quality service. In our next blog post, we’ll give you some actionable steps you can take to stay top of mind with your customers.

Being Top of Mind Helps to Increase Retention

We’ve discussed in a previous article that the number one reason customers leave their insurance agents is that they don’t feel like the agency/agent genuinely cares about them.

The Biggest Reason Your Insurance Clients Cancel (3 min. read)

In large part, the perception of indifference comes when they only hear from their agent when it’s time for renewal (and sometimes, not even then!!) or when they have a claim.

This lack of contact tells the customer that the relationship is purely transactional - and they want more than that. They’re paying for more than that.

Regularly hearing from you strengthens the relationship between you and your customers.

As one of the agents we work with said, “they’re much less likely to leave an agent that they know and trust, and they can’t know and trust you if they don’t hear from you.”

EverQuote explains it well,

“One of the biggest mistakes an agent can make in regard to communication is to sign on new customers without having an explicit process in place for contacting them.

When this happens, you have no idea whether that customer is happy, dissatisfied, or on the verge of churning.

It also gives other agents an opportunity to get in front of your customers, and you risk losing their business.” (EverQuote)

Being top of mind is a proactive way to ensure that your clients aren't getting swept up by the competition.

Being Top of Mind Makes Cross/Up-Sells Easier

If you’re not the first person your customers think of when they need another line of coverage, they likely won’t be your customer for much longer.

By combining quality service with being top of mind, your customers won’t feel the need to look elsewhere for additional lines of coverage.

If you’re not consistently reaching out, another agent will, and let’s hope it’s not at the moment they need more coverage!!

Being top of mind by educating your customers on the different coverage options available can help ensure that they’ll come to you rather than going to another agent.

And when they have a positive experience getting more coverage from you, they’re also much more likely to stay longer - hello, increased retention!

Being Top of Mind Gives You More Opportunities for Referrals

According to Agentero, happy, satisfied customers are a powerful source of referrals:

“72% of customers will share a positive experience with 6 or more people.”

While many factors and variables determine whether a customer gives you a referral or not, one way to ensure the highest likelihood of them giving you a referral is to be top of mind.

Referrals aren’t something people can give you every day, but when a friend comes to them asking for recommendations, who will they think of first?

As long as they’ve had a quality experience with your agency and have you on their mind, it will be you every time.

Now that we’ve gone over some of the major advantages of being top of mind with your existing customer base, stay tuned for our next blog post, where we’ll break down some actionable steps you can take to make that happen.

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