As the legal cannabis and hemp industry in the United States continues to grow, more insurance agents are stepping into the market. That means more agents knocking on the doors of your clients, directly competing for business. This doesn’t have to be a bad thing, as going the extra mile for your clients allows you to differentiate yourself from your competitor. Read on for several ways to ensure you can be successful in this growing market.
Know the Industry
The laws regarding cannabis and hemp are constantly changing. This means you must work diligently to keep up to date and constantly expand your cannabis knowledge base. Whether your clients are cultivators, processors, manufacturers or retailers, they each have needs specific to their operation. Know what each of them need confidently, so you are ready to react nimbly to changes as they come.
Contribute your time and talent – and grow your network – by joining a local, state or national cannabis or hemp association and getting involved in a committee or board. Check out some association options here.
Make It Personal
Don’t just know ‘the business’, know your clients’ business. Prove to your clients that you understand their particular operation and all the details that are important to their success. That means good news and sometimes difficult news as well. If you expect or receive a premium increase, don’t surprise them. It is always best to be upfront regarding relevant information, how it may impact them, and what solutions you may be able to provide. A truly personalized experience, delivered honestly, is much harder to walk away from.
Share Your Knowledge
Share what you know about the industry and local legislation with your clients. This can be as formal as offering them seminars on new developments and yearly coverage reviews, or as informal as a quick heads-up that legal changes are imminent. If your clients are confident that you’re keeping abreast with the industry, they’re more inclined to retain your services as a trusted advisor.
Pay Attention to Your Social Media
Having an online presence is important, but be sure your online profile is current, professional, and informational. Use your platform to share your knowledge and tell a story about your capabilities. If there are online reviews of your services, good or bad, respond to them in a timely and professional manner, with an emphasis on professional for the difficult reviews. For many clients, what they see on social media is a direct representation of who you are and what to expect. Present yourself in the best possible light.
Anything that delivers extra value to your clients will aid in retention. Offer helpful tools that your clients can use to improve their business, like a site safety review, a fleet safety review, updated legislation review, driver education, a human resources best practices webinar, and claims mitigation review.
Work with Cannasure to help grow and retain your cannabis and hemp business. Find out more.