There’s an easy way and a hard way to grow a business. The easy way, get new customers when they first start shopping. The hard way is to try and take customers from other agencies later. If you’re not growing your millennial business now, you’re doing it the hard way. You are also on a dangerous path. Over time, this path will lead to declining revenues and a decline in the value of your business.
How to Win Millennial Business
Winning business with any group is a matter of doing the following: First, tailor the content you provide to what they need to make a decision. Second, make the content available in the places your audience is looking for the information. For millennials buying insurance, that works as follows:
- First, figure out where millennials are looking for information. Fortunately, that’s easy. Millennials are on the internet.
- Next, provide millennials they information they are looking for in order to make a decision. Surprisingly, that’s also easy. Millennials want data. They want transparency. The technology industry has taken highly complex products and simplified them into easy-to-understand, side-by-side comparisons. Doing the same for insurance will grow your business with millennials. Providing the same information to all your clients will create loyalty.
- Finally, provide the information electronically. For millennials, the transaction needs to be easy. Make sure they can get the information they need without having to work to get it.
The Future of Insurance Agencies
Many agencies admit they are concerned about not winning enough millennial business. Without doubt, this is a bad sign for agencies. However, the information millennials expect is also appreciated by other customers. The other other customers just aren’t demanding it, yet.
ValChoice built the tools to give millennials what they want. Even better, now that it’s available, other customers want the same information. Check out the capability of our tools by clicking this link. Find out if transparency helps sell products from companies your agency represents by clicking the button below and ordering a report.