‘Value hunters’ – a simple growth plan that’ll work hard for you

Here’s a business development plan that you’ll like, because you’re already good at it!

Consider how customers judge the amount of value they’re getting from you, especially at renewal time. Is their business being taken for granted, are you friendly and professional to work with, is their primary problem solved, have all their needs been properly fulfilled?

And of course the greater your customer’s satisfaction, the greater their lifetime value is likely to be, and therefore the more profitable you become.  So ask yourself - what would happen if everyone in the office was encouraged to become passionate ‘value hunters’, actively seeking ways to deliver more and greater value across your client base?

Well the answer is, you could quickly see an improvement in prospect conversion rates, plus a growth in cross sales and referrals, as well as even better customer retention.

The primary ‘value markers’ to focus on 

• Relationship value - Customer care should form a key part of your business activity. In our industry, people buy from people, and if clients experience poor service or have minimal engagement from their broker, then it’s no surprise that perceived indifference can drive customers away. 
• Your action - Decide how to employ these emotive customer benefits. Also consider developing a simple contact plan to support and maintain the relationship, going forward.

• Solution value - Find out to what extent you're solving the problem/fulfilling the need of each particular client (especially those within your most profitable client segment).  
• Your action - Use an annual customer satisfaction survey to pinpoint those clients who truly value your services and those who may be at the point of leaving to go to a competitor because they’re not getting the service value they’d hoped for. Also, consider having regular 10-minute internal training sessions on how best to improve customer service skills.
  
• Inspirational value - Everyone likes to feel associated with something positive, so when customers see that their broker is, for example, actively supporting a local charity or sponsoring a sports team, then they feel like they’re getting value by association, and as a result feel more positive towards you. 
• Your action - Entries are now closed for 2024, but applying to the Aviva Broker Community Fund to be in with a chance of winning funding for your favourite local cause, is a way of demonstrating you’re making a difference in your community.
  
• Reassurance value - Most customers value the peace of mind and reassurance they get when working with highly experienced professionals (and as a result may be more likely to refer you). 
• Your action - One of the quickest ways to promote your expertise and reliability is by encouraging clients to give you complimentary Google reviews, plus they are more likely to refer you if they think their contact will get a positive impression from your website.
  
• Ease of doing business, value - These days most of us are time-sensitive, so consider what improvements you could make to the following, in order to deliver your clients a more positive value proposition. 
• Your action - ask yourself for example, how intuitive is your website? How quickly are clients’ calls and emails answered? Are callers routinely put through to voicemail? How easy is it to get information, get help, make a claim, etc?  Can people use your website to get a quote within a fixed time period?  

Ultimately selling on value as opposed to on price is important - not all policies are equal and whilst price is important to clients, value will almost always have the edge.

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