Statistically, the more services you cross-sell or up-sell a client, the more likely they are to renew.

If you can welcome new clients to your business in a way that surprises and delights them then they are much more likely to talk to friends and colleagues about you, and in doing so, generate referrals. Plus by maintaining this positive relationship you increase the likelihood of them consolidating their insurance with you, and then renewing later in the year.

Develop a programme to keep in regular contact with new clients, especially in the first two years when statistically they are most likely to go elsewhere. For example, when they receive their policy documents or other paperwork you could call them to check if they have any questions or concerns.

Most clients leave because of perceived indifference and as we’ve said, it’s important to keep in touch as frequently as possible. Connecting through social networks, such as LinkedIn,  makes this easy.

People like to be asked their opinion so call them to get their feedback on your customer service. This is a great way to make them feel valued, plus it’s also an excellent way to pinpoint advocate clients, who you can encourage to deliver referrals, as well as to manage the concerns of those with complaints, and stop them from moving elsewhere.

The core driver of any broker business is customers. And customers, like anyone else, need to feel valued and appreciated all year round, not just at the point of renewal or a claim.

So plan to speak to as many of your customers as possible, as often as possible. Share valuable risk management advice, topical news stories - anything that you know that will be of interest, positioning yourself as a trusted advisor. Use all touch-points available to engage your clients - the phone, email, social media, your website, maybe even a lunch!

Price focused customers are always going to be hard to retain so you need to make sure that they know the customer service benefits and value of using a broker, and you in particular, and then reinforce this over the coming year.

There’s a term in psychology called reciprocal altruism that says, “do something nice for someone, and there’s a better chance they’ll do something nice for you” (like renew their policy).

Giving clients a positive Google Review or testimonial for their website; sending them a handwritten thank you card or personal email; giving their children balloons when they come into the office, or mentioning their business on your Facebook page are just a few ideas.

Customers with a poor claims experience are less likely to renew, so manage this by establishing a procedure to help clients through their claim and follow up as needed until the claim is complete.

When deciding where best to spend your marketing budget, keep in mind the lifetime value of each sale. Certain customer personas within certain segments are more likely to renew, so try to identify their characteristics.

Brainstorm how to improve your customer service cost effectively. For example publishing online a comprehensive list of good answers to customer FAQs will cost almost nothing. Discuss how else you can use your website to handle the most common customer service issues.

If you act as a regular source of referrals for clients then they’re almost guaranteed to renew. Consider doing this by promoting them as valued ‘partners’ on your website.

If you are a broker with a local focus then consider actively recruiting the best businesses in the area as clients; seek out the best accountants, the best garden centres, the best mobile hairdressers, etc. Get recommendations and endorsements and publish them on your website. Ask your local paper to print the list as well as add a link to your website.

Be creative by developing a reciprocal referral programme that actively encouraging these ‘best business’ members to refer you to their clients, with each business offering members added value or a discount on their services.

This will work best for commercial clients with whom you have a good relationship. Simply go to their LinkedIn profile page and write a positive recommendation about their professional strengths. This will naturally encourage them to reciprocate.

It’s far too easy to try to do too much. And doing lots, badly, isn’t a strategy for success. Remember Pareto’s Principle that 80% of your sales come from 20% of your marketing. Review past activity to work out what the 20% is, and do more of it.