Bill Clinton's 1992 presidential campaign to unseat then-current president George H. W. Bush used the rallying cry of, “It's the economy, stupid.” Although meant as a focus for the campaign staff, the public became aware of the phrase and has paraphrased it hundreds of times for all sorts of causes.

In writing about technology for independent agents, I have warned on many occasions that it's not about the technology, it's about the business or customer. In this case, though, it is about the technology.

According to the results of a recent survey from Velocify, customer service features, such as online quote requests, have created a disconnect between the technology employed to provide the service and the person-to-person followup needed to make it effective.

Most technology, when used correctly, can enhance the agency's brand and competitive position in the marketplace, and is implemented by the agency. Whether it's social media, mobile apps or online marketing tools, they all supplement the relationship and brand-building process.

Online quote requests are a tool meant to trigger a direct contact between prospect and agent. Once implemented, there is nothing for the producer or CSR to do within the platform but follow up. Yet when a very warm lead is presented to the company, a large percentage almost go unanswered.

Perhaps this is a case of needing to implement more technologies to heighten the producer's ability to follow through with leads.

Service at the speed of need

Stuart Ganis, director of insurance industry consulting for Velocify, says that part of the reason for the disconnect may be because “many are held back by inconsistent sales processes that aren't as standardized as they could be.” He goes on to say that having a consistent process isn't the only thing; it's the adoption by staff that can really be a cultural challenge.

Take, for example, the speed of callback. According to the study, of the 61% online leads that received a callback, the average wait time for the first call from the insurer was two days and 8 hours. In today's instant gratification culture, that is unacceptable. Previous research by Velocify showed that leads contacted within one minute of a web inquiry raises the likelihood of converting the lead into a paying customer by 391%.

Why not implement a text notification system so the agent receives an immediate text message when a quote request comes in, including pertinent information like the name and phone number for one-touch dialing?

Or what about having a web calendar on the site that allows an individual to not only request a quote, but set the date and time for a callback? The system would then send a message to each party 15 minutes prior to the call to remind them and provide the phone number to use.

Or tie in an auto responder campaign that triggers an email that is context sensitive to the specific quote inquiry—which could then trigger a series of emails over the next few days, weeks, or whatever time frame you choose, to educate the prospect on steps to take to reduce their potential premiums.

These are examples of technology that can offer prospects that feeling of “high touch” by keeping them virtually in top-of-mind position, regardless of the urgency of the follow through. It doesn't mean, however, that the process shouldn't be adhered to; it just envelops the actual followup in technology with good intentions.

There are many tools in the marketplace that can do some or all of what I'm describing. Constant Contact, MailChimp, iContact, comF5 and others offer auto responder campaigns, web calendars, text messaging systems and more.

This is not just about supporting the online quote request technology; it's about implementing technology that is focused on customer service and building relationships. What could a 391% increase in close rate do for your bottom line?

Special Reports /

It's the Technology, Stupid

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