Mastering The Cross Sell: Have Something For Everyone

Making a sale off of an existing customer returns higher profits than generating a new sale from scratch. Not making as many cross sales as you want? It’s time to take a good hard look at your product portfolio. How deep is it? Do you have a product to meet everyone’s needs?

The secret to strong cross sales is having something for everyone — and not just one something either.

Some ways to round out your product offering:

  • Offer both Mini and Major Med plans. Maximize your opportunity to close new leads by serving people who don’t qualify for standard health insurance. For example, if a couple is looking for coverage but one is uninsurable, Mini plans let you make two sales rather than losing them both to a competitor who can cover uninsurables.
  • Go beyond health plans. Consider adding Life, International, Short Term, or Long Term Care to your health line up. Some of these products can be added directly to your customers’ health premiums. Your customers can enjoy the added convenience of just one premium check to write every month.

But cross sellers beware: while you do want to have something for everyone, avoid piling on products you don’t have time to understand. If you don’t know the product, you won’t be able to sell it effectively. A weak pitch on a cross sale could lose you the original health app you were after in the first place.

Here’s a couple ways to find out more about your cross sell opportunities:

  • Ask your carrier reps for information on popular products compatible with their health plans.
  • Attend trade shows and speak one-on-one with company reps about new products.
Scott Sullivan

Scott Sullivan is Vice President of Broker Sales at ProspectZone, where he forges strong relationships with successful agencies and insurance carriers nationwide. His team works with agents across the country and educates them on how to implement technology and lead generation into their daily routines. He welcomes feedback at ssullivan@prospectzone.com
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