Cross-selling accomplishes two things: increases your income and closes the gaps in your clients’ health plans. And, like anything else in life, it’s a skill that you’ll need to practice if you want to do it well. We’ve gathered tactics from some of our top-producers that you can use to hone your approach.
Use a fact finding worksheet
This client needs assessment – or another of your choice – gives you a first look at your clients’ needs and coverage gaps.
Forms like this one make it relatively simple to uncover family histories of cancer, stroke, heart attack, or other dread diseases. From there, it’s a matter of presenting your critical illness plans and guiding your client to the one that fits best.
Put it all out there, at the first appointment
No one likes feeling like they’re being nickeled-and-dimed. Avoid introducing a new product each and every time you reach out to your clients.
Your fact finder is going to uncover multiple needs that you’ll be able to meet. Your clients may not be ready to purchase several new policies all at once. Instead, help your clients prioritize those needs, and imply that you can address others at a later date. By setting that expectation from the first meeting, you position yourself as a partner in your clients’ planning.
Do you want fries with that?
Fast hamburger chains around the world have one thing in common – they’re going to ask if you want fries with that. And, if you do want fries with that, they’re going to ask if you want to buy the largest size.
If you’re anything like us, you’re going for the fries – even if you don’t supersize.
That simple upsell is one of the most effective because the fries and drink are presented as add-ons, not as huge purchasing decisions of their own.
You can try the same strategy with your Medicare clients: “Do you want the lump-sum critical illness benefit with this?” “Do you want a short-term care benefit with this?”
Questions like these help communicate that additional benefits are really common – and you’re just asking as a matter of routine.
Send that snail mail
Junk, junk, and more junk. Your clients are probably sick of sifting through it in their mailboxes, especially around AEP. And so, a hand-written envelope from someone they know and like (e.g- you!) is bound to stick out.
For your Medicare Advantage clients, you might send a piece of collateral detailing your hospital indemnity plans. Pair that piece with a sticky note that says, “Lots of my clients are adding these to offset their hospital costs. Let’s talk!”
Something similar could work for your Medicare Supplement clients. With a dread disease piece, your sticky note could read, “Many clients add these to make up for lost income. Call me to learn more.”
Short and sweet, but thoughtful enough to strike up a conversation.
Everyone’s doing it
Probably all of your clients have told their mothers they wouldn’t jump off a bridge if their friends did, too. But here’s the thing: they might!
Notice the language we used on the sticky notes above: “Lots of my clients are adding these,” “Many clients add these…” There’s power in suggesting that something is commonplace. It frames your mention of ancillary products as a courtesy, and doesn’t elevate them to their own significant purchasing decision, which may surface additional objections. That same power of suggestion might also work for you during a sales appointment – not just in a mailer you send later.
Today’s no could be tomorrow’s yes
Your clients’ thoughts, feelings, and circumstances change over time.
Maybe they’ve seen a loved one struggle to make ends meet after recovering from a heart attack. Or perhaps they’ve witnessed how taxing it can be to plan for someone’s long-term care.
Just because they said no to an ancillary product the first time, doesn’t mean they’ll say no when you see them again. Experiences like these could do a lot to change their perspective about what coverage they need. Take advantage of off-cycle check-ins, like birthday calls or anniversary cards, to keep your brand top-of-mind. As your clients experience life changes, they’ll be more likely to reach out.