Dynamis Blog

3 strategies to sell more ancillary benefits products

Posted by AndyNunemaker on May 23, 2017 6:30:00 AM

3 Strategies to sell more ancillary benefits products

In recent blogs, we examined why employers aren’t offering ancillary benefits, as well as the advantages to doing so. In this blog, we’ll focus on strategies to help you sell more benefits products.

You likely already understand the benefits of selling more ancillary products, but we’ll review here:

  • Help clients provide a more comprehensive and competitive benefits package
  • Support employee health and productivity
  • Earn more broker commission
  • Build stronger client relationships by managing more of the employer’s benefits package

With those advantages in mind, we’ll examine some concrete strategies to sell more ancillary benefits products.


 

1. Educate employers

The first step in increasing ancillary sales is showing clients the benefits and need for an expanded benefits package. Employers may not realize that their employees are looking for more benefits, and may not be clear on the advantages of providing more ancillary benefit options. For example:

  • The benefits package is a major factor in whether employees accept a new job offer, and 48% of workers would switch jobs for better benefits.
  • Workers often won’t purchase coverage such as life or disability unless their employer provides it, leaving them financially vulnerable.
  • Providing ancillary benefits can improve health outcomes for employees, boosting productivity and saving money for the employer.

For more powerful ancillary statistics and trends, check out this infographic. It’s a great piece to share with your clients as an educational tool.

 

2. Suggest an employee interest survey

Once your clients understand the need and demand for ancillary benefits, it’s time to help them create an expanded benefits package that fits their needs. Suggest that the employer conduct an anonymous employee survey, to find out employees’ current opinions, and what they would like to see. Questions might include:

  • What is your current opinion on our benefits package?
  • Are there benefits we do not offer that you are interested in?
  • Indicate/rank interest in the following benefits (give several options)
  • Have you ever considered leaving your job for better benefits?

 

3. Incorporate the ancillary discussion into the big picture

Armed with results from the employee survey, it’s time to evaluate options and make decisions about which additional benefits will be offered. The best way to do that is to integrate ancillary coverage options into the larger renewal discussion.

This allows the employer to compare all coverage options and combinations, examining cost and employee impact on a larger scale.

 

Want more strategies for effectively selling ancillary products? Be sure to check out this free ebook on the topic.

 

Raise Your Ancillary Game- Download the Ebook


 

Topics: Differentiation, Technology, Client Service, Renewal Strategies, Dynamic Plan Designer, ancillary/voluntary benefits