Sell Insurance To The Generation Y
About one quarter of the total American population i.e. almost 70 million young Americans - comprises of today's “Generation Y” or “Hip Group”. Children belong to this group are called as Baby Boomers.
Associates of the group, born approximately between the year 1980 and 2000, are also called “Millenials” or “Echo Boomers”.
This generation has more spending capacity than any other generation before. Such teens and young adults spend over 150 billion dollar per year for consumer purchases - an astounding amount.
If you want to sell insurance to the Generation Y and to grab share of the on-the-rise market that represents an incredible average of 100 dollar every week in non-refundable income - read the points.
Things That Set Them Apart
To sell insurance to the Generation Y, you should understand their life viewpoint.
More than any other generation before, Generation Y considers reliability, honesty and liberality as the foundations for long term relationships, be it personal or professional.
These sharp and giving children expect the very best to get.
Echo Boomers are very much peer-hearted and they very much value the opinions of other people of their age. But, their value is inclined toward the conventional and parental endorsement. It is a very important part in their search for significance.
There are other features too that set them apart. The Generation Y is:
- Humanitarian: give their service, time and resources generously.
- Socially aware: believe in helping other people.
- Culturally assorted: minorities stand for more than 30 percent of Generation Y, some of them are overtly gay while 25% comes from single parent household.
- Peer-Oriented: look for their peers' advices and referrals.
- Tech-Savvy: 90% of them have a computer in their home and most of them have their own mobile phone.
- Sensitive & easily disheartened: dishonestly hurts them so badly and that they can't easily forget.
To Reach and Sell Insurance To The Generation Y
Reaching Millenials as well as their pocket is not very difficult. All it requires a little planning and organization.
To sell insurance to the Generation Y, you need to follow the four steps provided by BestInsLeads.com.
- Plea to both Hip people and their parents
Offer them products and services that meet their practical requirements at the most affordable price.
- Utilize promotions and giveaways
Hip people like to grab free tickets to a sporting occasion or concert.
- Try to meet them wherever they are
Go anywhere and everywhere they spend time, be it online or at a local mall. Do anything possible to fetch their attention.
- Market to their individuality
Try to get familiar with their buying process and confidence on peer referrals. Now utilize them to convince these people to buy your products.
Important tips from BestInsLeads.com to bring in such huge spenders:
- Talking to them as responsible adults
- Recognizing their individual distinctions
- Pursuing every business transaction with sheer reliability and truthfulness
- Providing exceptional service
Always remember that as Hip group children lean on their parents' approval and friends for opinions; your marketing strategies should reach the children as well as their parents to be really successful.
Take Your Piece Of Pie
If you want to grab your share from Millenial's insurance pie, you need to know its life outlook. Do proper planning to reach them as responsible adults, talk to them with respect and honor. You can sell insurance to the Generation Y. Besides, you will get recommendations from them, which is more precious payment than anything else.
