Strictly Sales" is written by the faculty of the Dynamics of Selling Program. This month's column is from Edwin L. Lamont.
THE HARD market is history. If you kept your book of business intact, congratulations! I hope you enjoyed your raise. You earned every penny of it.
How much new business did you write during the hard market? What percentage of last year's commission came from new accounts? If little of your revenue growth came from new clients during the last few years, it's time to rediscover and reinforce sales basics.
What are sales basics? Think of the questions sales managers and agency owners ask producers: Why is this prospect qualified? Did you set negotiation rules? What's your production goal? What's your personal marketing plan? Do you know your closing ratio? How do you measure prospecting and selling results? Is your product knowledge an advantage? When's the last time you took sales training? Sales basics are the core strategies, measurable processes and fundamental beliefs of successful insurance professionals.
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