The Art of Upselling: Offer Vehicle Service Contracts to Maximize Your Sales
Tuesday, June 30th, 2009 | posted by: Admin
Are you maximizing your sales potential as an independent agent? The art of upselling lets you offer clients a comprehensive insurance package through InsTrust while increasing your revenue.
Upselling has developed a bad rap because it is poorly understood. Many sales professionals see it as obnoxiously pushing products onto a customer. Instead, upselling is about building a mutual benefit so both you and the customer win. Think of upselling as offering a suggestion to an already receptive buyer to enhance the value of his or her purchase.
Phone companies excel at upselling. They offer Internet and TV services to customers about to sign cell-phone contracts. The cost savings and convenience of these packages appeal to many customers.
In a similar way, you can appeal to your customers’ need for convenience. Help them streamline their bill-paying by offering them a comprehensive package.
What else can you offer clients while they’re making a transaction?
• InsTrust Visa Pre-Paid Debit cards. By offering this product, your agency serves as a pseudo-banking institution. When customers reload their cards at your office, you get two benefits: a revenue opportunity and a chance to build on the relationship. Perhaps you’ll learn that your customer’s family or job situations have changed – if so, it may be time to enhance or adjust his or her insurance package.
• Your industry expertise. Clients appreciate when you can educate them on additional products, rather than having to do the research themselves.
InsTrust’s newest product may be just the offer to seal your upsale. Vehicle service contracts through Interstate National Dealer Services have features perfect for upselling. Because the contracts are tiered – Power, Golden, Platinum and Diamond – you can suggest the level that matches your customer’s car needs. For instance, if your customer’s car is less than 10 years old, suggest a plan that ensures coverage for electronic parts and accessories.
For a customer buying a car-insurance policy, you can approach the upsale by saying something like this: “Now that you’ve chosen a plan to protect your family in the event of an accident, I’d like to offer you a discount on vehicle service contracts that can help you save money on routine car maintenance.”
Help your clients see service contracts as a complement to traditional car insurance and a safeguard against expensive repairs. For your first three service contracts sold through July 1, you’ll earn double commission. Want to maximize on your agency infrastructure? Learn more about this opportunity by contacting marketing@instrustinsurance.com or calling 866-665-2410 ext. 2604 to set up an informational webinar.
Before approaching an upsale, make sure your timing is on cue. Wait until you have a rapport with your client, then offer him or her products tailored to his or her needs. Above all, remember upselling is designed to increase the value of the transaction for both sides. Happy selling!
