Selling Insurance to Different Generations: What works for millennials, might not work for boomers

Millennials tend to avoid social interactions. They prefer to do things indirectly. Direct involvement, as far as they are concerned, is not a must. They are more likely to embrace your services if you stay inside their comfort zone. So how do you sell insurance to people that hate direct interactions? You go online.  

Millennials grew up with technology. They have seen the Discman evolve to smartphones and dial-up internet change to Wi-Fi. Embrace the fact that they prefer the use of technology. Social marketing, blogging, or practically any digital platform is an option you cannot miss. Your goal is to sell insurance, so always use the options that are at your disposal.  

Blogging is an excellent technique for building a relationship with millennials. They tend to follow and appreciate proper blogging. Even more critical are online testimonials. If you succeed and sell insurance, remember to get testimonials of people vouching for your services. Peer recommendation and authentic testimonials stand out in the eyes of millennials.  

If they see others trust you and your services, they are more likely to do the same. Sell insurance and not false hope. 

Always approach this generation with respect. Avoid any use slang or profanities when interacting with the silent generation as they will take offense. Consider using their last name (like Mr/s. Smith) or ask for permission before you address them directly. Attention to detail will help you a great deal when you want to sell insurance.

Being formal and business-like goes for both communications and physical appearance. You should look like you know what you are doing and sound like you know what you’re saying. When you sell insurance to them, be sure not to let your guard down. A professional sales associate can win their favor by the power of their words alone. Presentation of proficiency and professionalism is a critical quality that you should demonstrate when dealing with the silent generation. 

Special pricing is very appealing to them. And due to their age, they might qualify for some very exclusive discounts that might help you seal the deal. If you are going to sell insurance, do it with attractive offers and exclusive deals. Propose them with offers they can’t resist, and you’ll find success when you sell insurance.  

Baby boomers prefer direct means of contact. They prefer one-to-one meetings and conversations the most, but telephone calls, online live chats, and some other semi-personal mediums are also on the table. Your tone and form of language should always be formal and business-like if you want to sell insurance.   

Clients like these are hard to obtain but easy to retain. ‘Finders keepers’ holds with this generation since baby boomers are loyal to one company or agent. While it’s hard to make them change their clients, it’s rather simple to keep them around. Do not try to go around the rules. They like to stick by the books, so you better do the same if you want to sell insurance.   

It would be best if you gave this generation a reason to change what they already have. You need to provide value that is better and convincing than what they already have. Sell insurance to them, but don’t abandon the duty that comes after. They prefer to work with a single agency to purchase from, so give them a reason to stick around.   

While baby boomers are familiar with online communication, you will still need to maintain formality. When dealing with baby boomers, you want to be upfront and confident. Your attire should match your behavior, as well. You are the one who wants to sell insurance, and they are not obliged to talk to you. Your response with them must always be well-mannered.  

Though not dependent, baby boomers still use technology. If you want your websites and your online sales to find success with this generation, keep it simple. Your goal is to sell insurance, so don’t complicate it too much. Create a website that baby boomers can maneuver through without any trouble.   

Baby boomers prefer sticking to one agent for as long as they can. They are hard customers to sell insurance to; that is, if they already have an agent. If you succeed and sell insurance to them, baby boomers are easy to retain. It cost five times more to pursue a new lead than to continue an existing one. The probability of selling to a new prospect against the likelihood of selling to an existing customer is 60-70% vs. 5-20%. You do the math here and decide whether you want to retain an old customer or sell insurance to a new one.  

Generation X grew up with technology around them but not with them. Technology was a luxury they had to spend on. It doesn’t mean they are oblivious to it. The way you sell insurance to them needs to be diverse. Physical approaches like door-to-door sales and phone calls are there, but you can extend your reach. Tactics like social media marketing, email marketing can also come in handy.   

Generation X consider themselves as providers. They want to be able to provide for their families. A possible approach can be the benefit of promised security and reliability for them and their families. How you sell insurance should reflect the value of the insurance. You need to convince them of the significance of insurance and how important of an asset it can prove to be.  

Gen X is actively trying to stay out of debt, not get into more. A lot of them have outstanding student loans and mortgages. If you want to sell insurance to them, your plan should make sense to them financially. 

Gen Z expects proper guidance and instructions from you. They are not familiar with insurance. To successfully sell insurance to Gen Z, you need to advise them about the importance of insurance. They want to learn before they involve themselves with anything. 

Trust can be lost as easily as it is gained. Guide them without making them feel gullible, and you will win their favor.   

Millennials grew with the technology evolving around them. But Gen Z were born into advanced technology. Outdated technology is an old-fashioned service to them. So old ways to sell insurance will not gain their attention. They do not value your service if you do not meet the terms of their technological preferences.   

Face-to-face is more open to Gen Z than they were with millennials. So you know the same marketing approaches will not work. If you want to sell insurance to Gen Z, your marketing approach needs to be versatile.   

Not accustomed to waiting, Gen Z has lived most of their lives getting what they want, when they want it. They hugely depend on customer service and rate any service accordingly.