Store Management

Do you want fries with that? Insurance?

By Dustin Lemick, Founder & CEO BriteCo
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This is an article BriteCo Founder and CEO Dustin Lemick wrote for Insurance Thought Leadership.

Like McDonald’s, many insurance companies can implement a point-of-sale upselling strategy to increase market penetration.

By now, most of us are so familiar with McDonald’s “do you want fries with that?” strategy that it’s easy to forget how brilliant it is. Let me refresh your memory. In 1993, McDonald’s implemented a new policy: Every time a customer placed an order that didn’t include fries, the cashier would ask if the customer wanted fries with that.

The result: an added 15% to 40% in annual revenue.

Just as important: The boost didn’t require any expensive training or investments from the company.

So how does all of this apply to insurance sellers? Turns out, many insurance companies can implement a similar point-of-sale upselling strategy to increase market penetration and revenue. Here, I’ll offer examples of several other companies doing this successfully and offer takeaways for those in the insurance industry.

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About the Author

Dustin Lemick is the Founder and CEO of BriteCo and a third-generation jeweler with over thirteen years of retail jewelry experience. He holds a Graduate Gemologist degree from the Gemological Institute of America (GIA) and has in-depth knowledge and expertise in appraisal systems, diamond and gemstone markets, retail pricing models, insurance replacement models, and jewelry quotation pricing systems.
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Please see the Licenses section of this website for more information. All insurance policies underwritten and issued by HDI Global Insurance Company and administered by BriteCo.