My son completed his graduation, opted out of a job, and deferred his post-graduation plan. Instead, he decided to go on his own. He got some initial success. Few people in Pen complimented him for that. A couple of days back, our LIC Agent visited us. He collected the premium cheques, handed us the diaries for 2021, and then brought up the subject of Archit's insurance. The agent had learned of Archit's venture and was happy for him. But, he reminded us, it was time for him to get insured now. I told him that we would need to wait for him to file at least two IT Returns. I am sure he has noted that. I shall expect another specific visit for this purpose after two years.
It is not about the endless follow-ups of insurance agents. It is about using all the available information and using all our senses in customer engagement. I believe that banks can prevent a lot of bad debts if their lending officers casually visit the customers. I never got a call from the bank after I have taken a home loan from them. A lending officer may be driving several times past an establishment whom they have lent. Casual observations like the upkeep, the stream of customers walking in and out, the feel of the place can help the bank reduce a lot of NPAs. It will also open up new business opportunities.
How many times have we visited our customers without having sales in our minds? When we visit customers without any agenda, we foster our relationship. I have found that the customer is more open to us when we don't have sales on our minds.
Metrics: Whenever you are planning your schedule, make sure that you include visiting at least one customer in the vicinity. Depending on the nature of your business, cover at least 10-15% of your customers every month. After completing your visits, journal your observations. Concurrently use the other tools that I have written about earlier - gifting, writing thank you notes, etc.
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