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Spreading Winter Holiday Cheer in July: Unwrapping opportunities for benefits producers

Posted on: July 23, 2024

As the hot days of summer roll in, it’s easy to feel like the festive spirit that envelopes us in December is a distant memory. But who says we must wait until the end of the year to embrace that holiday joy? For benefits producers, July can be a time to rekindle the magic of the holiday season and celebrate the opportunities that lie ahead. As someone who has spent years in the world of voluntary benefits, I’ve always found the July period to be a time of renewal and strategic thinking. Let’s unwrap the potential of a “Winter Holiday in July” and explore how this mid-year celebration can breathe new life into your business, especially as we approach the crucial Open Enrollment Season.

Embracing the Holiday Spirit in July

The holiday spirit is not just about decorating with twinkling lights and exchanging gifts; it’s about capturing the essence of the holiday spirit—joy, generosity, and the excitement of new opportunities. In the world of voluntary benefits, this translates to a time of reflection, planning, and rejuvenation. Just as retailers have embraced this concept to boost sales, benefits producers can use this period to invigorate their strategies and connect with clients in meaningful ways.

This month offers a perfect halfway mark in the calendar year to assess what’s working and what needs adjustment. Just as holiday planning involves checking lists and making sure everything is in order, use this time to review your clients' needs, evaluate your sales strategies, and make necessary tweaks to help ensure a successful second half of the year.

And while you’re at it, why wait for the end of year to show appreciation? Take this time to thank your clients for their partnership and loyalty. Host a mid-year appreciation event, or at minimum, send out personalized messages that show you value their business. This unexpected gesture will not only strengthen your relationships but also help set you apart from the competition.

Unwrapping Four New Opportunities

The holiday season often brings about a sense of anticipation and excitement for the new year. In July, benefits producers can harness this same energy to explore new opportunities and set the stage for growth, particularly as Open Enrollment Season approaches:

1. Expanding and Reevaluating Product Offerings:

   Just as the holidays bring new and exciting gifts, consider introducing new voluntary benefits or share a different perspective on existing benefits that address the evolving needs of your clients. As an example, the first association your clients and their employees may have with Group Whole Life Insurance may be the guaranteed death benefit. However, there’s an opportunity to add even more value to the offering by shining some light on the living benefits and features that include guaranteed cash value, portability, a Chronic Care Benefit¹ and dividend eligibility².

2. Strengthening Client Relationships:

   Use this time to deepen your understanding of your clients’ challenges to help strengthen employee retention and talent acquisition. Schedule mid-year reviews to discuss their goals and how your benefits package can support their initiatives. Building a strong rapport now will help pave the way for a fruitful partnership in the future.

3. Preparing for Open Enrollment Season:

   Think of Open Enrollment Season as the Winter Holiday Season for benefits producers. It’s a period of high activity, preparation, and anticipation, where everything needs to be perfectly aligned to ensure success. Just like holiday shoppers getting ready for the big day, benefits producers should use this time to fine-tune their strategies, streamline their offerings, and help ensure they’re fully prepared to deliver the best possible experience for their clients and their employees.

4. Networking and Collaboration:

   The festive season is about coming together. Seek out networking opportunities and collaborations with other industry professionals. Join virtual events, participate in forums, or explore partnerships that can broaden your reach and enhance your service capabilities. If I may recommend attending one of our upcoming webinars or catch a replay of one of the many offered through our website. Click here to explore!

Spreading Holiday Cheer in July

Remember that the essence of the “holiday season” is about bringing joy, connection, and generosity to those around you. For benefits producers, this means championing the needs of your clients, innovating your approach to stay ahead of the curve, and fostering a workplace culture that embodies the holiday cheer all year round.

So, deck the halls, light up the summer nights, and let the festivities of July help set the stage for a successful and joyous second half of the year. Here’s to unwrapping the endless possibilities and celebrating the journey ahead—one opportunity at a time.