Using Insurance Buyer Personas To Improve Prospecting And Closing Ratios

Posted on

July 7th, 2016

by

Insurance Lead Generation Insurance Agency Leads

Insurance agents, brokers and producers will find it helpful to create a buyer persona. A buyer persona is a composite representation of your ideal customer based on research, data analytics, and producer experience related to your existing customers. When creating your buyer personas, insurance agencies and brokers should include customer demographics, behavior patterns, motivations, and goals. The more detailed the data, the better the results.

Your buyer persona(s) should be a one or two paragraph written description of your ideal buyer. For example: “Mike Smith is a CEO, CFO, COO or Risk Manager who works at a manufacturing company between $10 million and $100 million dollars. He’s held this position at least five years and seeks to improve efficiency and processes within his company. He does not make quick decisions, but is willing to try new things, especially with innovations providing a compelling ROI. He is in the mid-stage of his career, and has the credibility within his organization to drive a new initiative or convince others that his decision to allocate budget is sound. He can make the decision to purchase, but may seek to validate it with other team members. Once he decides, however, the sale is very likely to move forward.”

Creating an insurance buyer persona can help determine the prospect profile and likelihood of closing, resulting in a better pipeline and improved close ratio. It’s often said that sales is a numbers game, and this is one simple process to help improve the numbers. For more information about insurance agency buyer personas or a complimentary Prospect Scorecard for to help build your buyer persona, visit StartUpSelling.com. And for more insurance agency marketing and sales tips like this, read Sell More & Work Less.