B2B Selling Advice
Selling to Insurance Annuities Businesses
It's clear that insurance annuities businesses are important sales targets for companies that are prepared for a competitive marketplace. Product quality, cost and customer service are all important considerations – so businesses that sell to insurance annuities businesses need to demand excellence from their team.
There are no one-size-fits-all strategies for selling to insurance annuities businesses. The basis for success is the same as it is in many other industries.
In any B2B industry, one of the major factors in long-term success is the ability to expand your customer base. The good news is that insurance annuities businesses are plentiful, but the challenge is to acquire and retain new accounts.
Casting a Broad Net
The first step in selling to insurance annuities businesses is to cast a broad net. Strategies that are isolated to the local market are not likely to succeed in an environment that is becoming increasingly reliant on e-commerce and other long distance marketing channels.
Although a geographic concentration may be a useful strategy for new sellers, you will eventually need to increase your bandwidth to include prospects outside of your initial range. You can also broaden your prospect base by introducing new products and partnerships into the mix.
Marketing Channels for Insurance Annuities Businesses
Although the ways in which sellers market their products are extremely diverse, there is one truth that applies to all insurance annuities business marketing strategies -- no single marketing channel is capable of capturing the attention you need to meet your sales goals.
Across the industry, multichannel marketing strategies are typical, and may include direct mail, telemarketing, print ads, email campaigns and other online strategies.
Top sellers routinely purchase lead lists as a way to drive the sales process. High quality lead lists provide a high volume of leads that are up-to-date and targeted to high-converting prospects. In our experience, Experian Business Services has the largest and most accurate database of insurance annuities businesses on the market.
How to Evaluate Sales Staff
Periodic staff assessment is essential for companies that sell in this industry. Businesses that achieve significant market share hire top-end producers and routinely evaluate them against performance goals and benchmarks.
Although annual reviews may be enough for other business units, sales units should be evaluated quarterly with monthly or weekly reviews of sales totals. Training, coaching and sales incentives can be useful for improving performance and revenues. In some instances, it may be appropriate to team underperforming sales reps with reps that have more experience selling to insurance annuities businesses.
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