Home › How to Grow Your Insurance Agency Clientele After a Merger

Merging with another insurance agency is a great business move. There are many benefits to merging with another insurance agency, from minimizing competition and increasing efficiency to expanding your product offerings and market range. While mergers can create a stronger customer base for the new company, they aren’t always the immediate solution to growing your book of business.

Interested in how to grow your insurance agency clientele post-merger? Here are a few tactics to try that can help expand your book of business.

First, Focus on Client Retention

While it is tempting to immediately strategize new ways to gain new customers, your first priority following a merger should be maintaining the clients you already have. Mergers have the potential to increase turnover rates for both staff and clients. Focusing on employee retention can certainly help with client turnover. Clients are less likely to leave if they are still working with an agent they know. When switching clients to a new agent, there is always the potential of a client thinking “well, if I have to learn a new agent anyway, now seems as good a time as any to find a new provider.” 

Apart from focusing on employee retention, open and honest communication with your clients during the merger process can help. Don’t just tell people what they want to hear in hopes of keeping them happy. Set realistic expectations and let clients know that some things may be different and there may be bumps in the road during the transition process – but reassure them that you are there to answer their questions and guide them through the changes.

Maximize Professional Partnerships 

Referrals and recommendations will always be the best way to earn new customers. While it would be great to have your existing clients do the legwork for you, this is something outside of your control. One tactic you can focus on to help increase referrals is developing relationships with other professionals who serve similar clientele in different ways. Real estate agents, financial planners, and mortgage brokers are all great examples of professionals who can point new customers in your direction – and in turn, you can do the same for them.

Optimize Your Website for Success

Following personal or professional referrals, the next easiest way to gain new clients is to set up your website for success. In this digital age, most prospects will conduct online research before making a decision about a new product or service. At the very least, make sure your company information and About Us page is up-to-date. Apart from this, you will also want to put a few spots on your website in which to capture email addresses, such as a quick Get a Quote form or even a newsletter signup. These are low-commitment actions for prospects, but a great way to get contact information for potential new clients. 

If you are feeling ambitious, starting a blog with regular content is a great way to speak to prospects who are on the fence. Good content not only educates potential clients but shows them that you are an authority in your industry and someone they can trust with their insurance needs.

Find New Ways to Network

Face-to-face interaction with people in the community is a great way to start building relationships that can turn into new clients. Rather than relying on your old standbys for networking, try thinking outside the box. Local business groups and seminars can be a great way to make new connections (including with potential professional partners). You may also want to consider charity events or nonprofit organizations. Not only can you meet new people, but giving back is a great way to build your reputation and strengthen your presence in the local community.

Hone in on Your Market and Outreach to Promote Insurance Agency Growth Strategies

As you try new approaches to building your book of business, remember that a more targeted approach is better than a broad, unfocused one. Spreading your resources out over too many new tactics is less likely to produce results than focusing in on a couple of tactics and really excelling at them. The same goes for audience outreach. Rather than trying to reach a wide new audience, focus your efforts on a niche audience. Clients are more likely to go for an agent that appears to be an expert in one field than one who dabbles in many.

Energia Consulting Partners specializes in Insurance Agency growth

Ready to grow your insurance agency today? Energia ConsultingPartners is an experienced, independent consulting practice that specializes in all aspects of the sale of an insurance agency with an emphasis on the Allstate & Farmers Insurance Company distribution model. Our consultants have more than 150 years of combined experience in the industry and over $600+ million in sales and purchases, with a proven track record of success!

As an experienced, independent consulting firm, Energia has the knowledge and expertise to seamlessly navigate you through the ups and downs of the insurance agency mergers and acquisitions process. If you are looking to take your business to the next level through a merger or acquisition – and want a low-stress, hassle-free experience – fill out our Contact Form, and one of our consultants will be in touch with you soon!