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Agency Principals: Do You Know How Many Sales Your Producers Made Today?

Posted on March 10, 2016 by Mark Sonders

Sonders' Selling Tips

As the agency principal, the monkey is on your back when it comes to making a profit for your agency. You need a window of visibility into your producers’ daily routine and sales results. Without these results, there is no way to properly forecast sales goals your agency must achieve. Your producers are an extension of yourself, representing your agency and reaching out to clients.

You need to develop a winning strategy for your best producers to get better and better. You have taken the time, effort and money to train them to do the job properly and you need to see the return on your investment. The way I see it, there are three main reasons you should know how many sales your producers made today.

1. Sales lead to relationship building
. It is the job of your producers to match insurance products to clients’ needs. As a producer builds a one-on-one relationship with prospects, this builds trust and a probability that this client will never go anywhere else but to this producer for his insurance needs. Producer-client relationships are a much over-looked commodity that can be a goldmine in generating new business and sometimes more importantly, return business. One satisfied customer will tell another, who will tell another; and so on…Building a great relationship with prospects will lead to sales, which will lead to more sales, and generate even more new business. Of course, you have no way to track these paths to relationships with clients without the right tracking mechanism.

2. Effort generates more effort.
An atmosphere of excitement and anticipation about one’s job tends to rub off on others around the workplace. Recognize effort and achievement and reward results. Before you know it, your whole sales staff will be overtaken with this air of enthusiasm and excitement. Even though you may have the best intentions when it comes to recognizing your producers’ sales efforts, there is no way to do this unless you can track down sales efforts and results for each individual producer you employ. Getting on board now with the right sales automation technology is going to save you time, effort and money in the future.

3. Brand identify is always evolving based on successful sales efforts
. Tracking your producers’ sales will let you know which insurance products are successful, which need to be changed and even which product lines are hurting your agency’s overall profitability and may need to be discontinued. It’s not just about making sales, but which sales generate the most profitability for your agency. The right sales automation software is a great way to begin a road to increased profitability for your agency by tracking product success results.

Insurance agency principal

Sales tracking technology is not something to fear…it is rather an essential tool in finding the right producers, to sell the right products and finally, produce the most profitable results through brand-building, cross-selling and relationship building. With the right technology solutions, you will quickly be able to spot sales trends and put your finger directly on an individual producer that is not performing as expecting or sales methods that do not work and need to be changed. 

Learning to analyze your sales data is a process and takes time but it is time and effort well spent. This can be the difference between recovering from a dip in performance and going down the road to financial ruin. Reducing the time it takes to close a typical sale and keeping track of results will do nothing but ensure that leads turn into clients who come back to buy from your agency again and again and keep your agency on the road to increased profitability.

For those of you thinking about how you can use technology to make an immediate impact on your agency's growth in 2016, I'd invite you to watch our on-demand version of our recent webcast on improving sales in the insurance industry.

Watch Now

Mark Sonders

Mr. Sonders is the Senior Vice President of Sales and Marketing at Vertafore. With over 25 years of sales, marketing, and financial experience at companies like Thomson Reuters and Kaplan Financial, Mark’s career has focused on delivering long-term success for his clients in order to help them get the maximum value out of his organizations products and services.




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