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4 Expert Tips to Build Your Producer Dream Team

Posted on April 29, 2016 by Todd McCredie

Sales Dream Team

With more than 20 years of insurance sales experience, I’ve endured the ups and downs of growing, training and building a team of producers. As the President of McCredie Insurance Agency, I strive to be on the forefront of the changes our industry is enduring. While building a team of passionate, successful producers is just one way I continue to thrive within a disruptive climate, it’s been vital to our advancement.

As I continue to promote improvement among my producers, I have learned some valuable lessons about how build a passionate sales team and encourage efficiency; which I look forward to sharing with you below:

1. Ask the Right Questions When Evaluating Your Sales Team

Knowing which steps you must take to improve your sales team requires two important considerations:

A) What are your agency goals?

You must have clearly defined goals for what you would like to accomplish agency-wide. Are you attempting to increase profits? Grow revenue? Maintain your current pace of growth?

B) What is the current state of your team of producers?

Once you have a very concise idea of what you’re trying to accomplish as an agency, you can evaluate the current performance of your team in relation to those established objectives. In addition to studying your team’s overall performance over time, take a look at the following aspects of their development:

1. How do they follow-up on marketing generated leads?
2. How are they prospecting and cold calling?
3. What are your customer retention rates, cross-sells, up-sells and attrition rates?
4. What are your team member’s experts on? Are there niches clientele you’re building?

2. Empower Your Producers with Actionable Data

We all know how important understanding our producer’s numbers can be. But it’s also imperative that we provide actionable data to those producers so they can have accountability. My producers want to have access to data so they can get organized based on accurate information. 

For my team, being able to measure producer data ignites excitement about our potential and what we’ll be able to accomplish. Taking a more proactive approach to measuring wins and identifying lessons learned will put the fun back in your sales team.

In my experience, having access to technology that measures successes and helps my producers pinpoint where they can progress has helped me construct a team that is on the same page. In the past, my team never had a tool that gave us a true foundation to build on.  

3. Rethink Hiring

As agency owners, we have a misconception that if we get more people selling, then we’ll get bigger.

In the insurance industry, the old adage is, if you can find a good producer, bring them on. But you may not actually need a lot of sales people on board. Instead, if you can increase the capabilities of your current team of producers, you will see an increase in return on new business.

4. Maximize Technology and Data

The right tools and technology can help you gauge performance, efficiency's and training opportunities. By arming yourself with accurate data, you can fully utilize your team’s capabilities and evaluate when you need to hire more producers.

In addition, creating an environment where producers can hold themselves accountable with real-time data will help you in every avenue, including attracting new talent, training and setting expectations.

As I build my team of super star producers, I have come to realize that hiring is not the only solution to our agency’s goals for growth in 2016. Instead, I’ve learned that there's nothing more powerful than a talented producer with the right tools. Once I've made sure I've done my job as a manager to provide goals, direction, and tools, we work can work together pro-actively to analyze opportunities for their improvement. These tips and processes have helped renew the excitement we have as professionals and allowed us to prepare for anything,  which is especially important in an era of disruption. 

Todd McCredie

Mr. McCredie is President of McCredie Insurance in Flint, Michigan. His strength in sales is working with business owners to get the right coverages in today’s heavily regulated business environment. Todd was placed on the 100 most powerful insurance executive list two years in a row.




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