Make it a habit

15 February 2017
I didn’t make any New Year resolutions this year, but I was full of the usual good intentions. Eat better, drink less, exercise more...

Some of the bigger ideas I had about cutting out sugar completely, or ‘clean’ eating never even started so at least I can’t say I failed.  I just didn’t quite start. 

I suspect that’s like quite a few of us when it comes to good intentions at the beginning of a new year. Ideas that quickly dissolve as the pattern of everyday life whirrs back into action.  The grand ideas of making the most of your evenings by enrolling in a night class, exercising at least five days a week or even taking freshly prepared food in to work for lunch can seem just too difficult to keep up with. We go back to work, the kids get back to school, and life carries on pretty much where we left off.

But it doesn’t have to be a big change to make a difference. Getting off the bus one stop early and walking home will increase the number of steps you take, switching your regular latte for an Americano reduces the number of calories.  Small, manageable changes that you can quickly turn into a habit.

As luck would have it, the same theory applies at work.  Making a small change to the way you do things could make a big difference to your customers, and your bottom line. It doesn’t have to be a laborious new process, just a small change to the way you do things could start to add up to a big difference.

Approach letters

I’m sure many of us will have gone back to work at the start of January reinvigorated after the short break. You may have had time to think about the year ahead and ways to make 2017 more productive and profitable. But how are you going to do that?  The obvious answer seems to be to find new customers, but what about those you already have on your books?

Do you go back to existing customers to find out if their protection needs have changed? Or, for previous mortgage customers, check if they have enough protection? Contacting one or two people from your existing client base each week doesn’t need to be difficult, or time consuming, as we’ve done the hard work for you.

We have a whole section on our website dedicated to approach letters.  There’s a range of letters to choose from covering the scenarios you’re most likely to come across. For example, those who didn’t want to buy protection when they took out their mortgage, a letter for those who have no critical illness cover or income protection and even a range for business protection customers.

All the material has been pre-complied by our own compliance team which means that you can just cut and paste the text onto your own email or letterhead, assuming your own compliance team approves.

By contacting just one or two customers each week, it shouldn’t add too much to your workload but could create more new business in the year ahead.

Bespoke marketing material

If we’re honest, protection is rarely high on a customer’s to-do list. And when you do get a customer through the door, you’ll probably hear every objection under the sun when you ask them about their protection needs – don’t need it, can’t afford it, the state will provide… And these objections can sometimes be difficult to overcome without evidence to hand.  This can sometimes lead to a lost customer or selling less protection than you know the customer really needs.

Our tailored marketing solutions gives you a wide range of marketing material to help make the protection sale easier.  There are sales aids and forms to demonstrate the real benefit to owning a protection plan, how far just a small amount of protection can go, and how to create a bit of wriggle room in their budget by sacrificing just one or two of their ‘everyday luxuries’ like a takeaway coffee.

The best part is that you can download your own logo to make the material look as though it’s part of your own marketing material.  There are sales aids and forms you could use when discussing protection with a client face-to-face, or you could print them off to include with one of the approach letters I just mentioned.

Once you’ve created your account, the system is very quick and easy to use. And once your logo and other details are uploaded, they’re there for future use making it even quicker to deal with customer objections.

So what if it’s February and we’re already 2 months into the year?  It’s never too late to pick up a good habit so don’t make contacting existing customers a failed good intention this year.

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About the author

Sarah Scott

Sarah has worked within communications and marketing in financial services since 2003. She enjoys writing and is interested in the influence of social media in marketing.

Last updated: 15 Feb 2017

This website is intended for financial advisers only and shouldn't be relied upon by any other person. If you are not an adviser please visit royallondon.com.

The Royal London Mutual Insurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The firm is on the Financial Services Register, registration number 117672. It provides life assurance and pensions. Registered in England and Wales number 99064. Registered office: 55 Gracechurch Street, London, EC3V 0RL.