Page 100 - The UnCaptive Agent

PLANNING 73

convinced that our retention rate was really ninety-five
percent, and they increased our valuation substantially.
We worked hard on retention then, and it is a hallmark
of our agency today that has created a lot of income
and value for us over the years.
So, what goes into client retention plan? Simply
stated, it’s everything that you plan to do to provide
excellent service to your clients, sell them more policies
(because every study ever conducted shows that the more
policies you sell a client, the more likely their retention
is), and a regular communication plan. Your communi-
cation and service planning should specify how many
times per year you plan to be in personal or written
communication with a client, and for what purpose.
The plan should include whether you will offer a cli-
ent newsletter, and if so, how often it will be published?
The plan should include regular preplanned emails or
other communication to clients about ways in which
they can avoid claims, about other products your agency
offers that they may be interested in, and other, similar
kinds of things. It should include the midterm or annual
policy review that you intend to conduct. Perhaps it
will include birthday and Christmas cards. Different
agencies have different approaches, but those with a
higher retention rate have a plan for regular meaningful
communication with their clients. Whether it’s a part
of your business plan or a separate plan, think through
how you plan to keep the clients that you’re going to
attract before you sell their policies to them.
As an offer to readers of this book, we will be happy to
send to you sample customer service and retention plans
we have developed over the years. Simply send me an
email requesting them to tonyc@oneagentsalliance.net.
The single most important step you can take to
ensure a high retention rate is re-quoting your current