7 things to consider

As you explore your strategies and agency dynamic and seek to update them, there are seven key elements to consider in defining your sales culture.

1. Define what your prospect, referrals and clients need to look like in order for you to do business with them. For example, it may be writing all lines of coverage in personal lines and targeting a minimum of six lines of coverage per account. Have a written definition of what your prospect, referrals, and clients need to look like in order for you to do business with them (the qualifications).
2. Sell every product your agency has access to, which maximizes account revenue. By selling all lines of business you'll maximize the revenue per account. The result is a more efficient and profitable agency and long-term, stable client relationships. The higher the policy count, the higher the retention. We've known that for more than 40 years! Take the time to truly advise and counsel clients.
3. Super sales organizations with a strong defined culture view every contact as a sales/referral/cross-sell opportunity. When you're doing the monthly/quarterly/annual reviews with clients, the conversation should include many different types of insurance. Once you've sold them, you then have an opportunity to leverage relationships by obtaining a qualified "hot" referral. This ensure that your sales team, service team and even your receptionist fully understand you're in the business of selling and growing—constantly.
4. Sales isn't a campaign or a focus for the month or quarter: It's a continuous and ongoing process. Having the activity level and super-qualified pipeline assures that you are constantly closing. Focus on selling every day, all day. Your motto going forward should be: Constantly Closing!
5. Super sales organizations have a common process they follow in personal lines, commercial lines, life and benefits. If you want predictability, then follow a process and don't run loosely and without discipline.
6. Sell value and not price. There is value in having a trusted advocate to guide clients through their tolerance for risk, the areas in which they are willing to risk, and the areas of risk transfer. Don't be caught thinking in one dimension. The symptoms are painful — accounts lost to those who build true value.
7. Build strong relationships with your clients and a strong network of accompanying professional services. If you're not having a dialogue with the client's CPA, attorney, investment broker or other advisors with whom they specifically interact and highly value, then you're just a vendor. Instead of measuring the number of insureds you have, measure the revenue and number of lines of coverage you have per account.

As the independent agency channel sees more pressure from direct and alternative distribution, it becomes clear that independent agents need to identify their segment of the market and go after it vigorously. Those who don't will lose market share with fragmented efforts, lower efficiencies, lower profit and lower revenues. Take the time to formalize your agency culture and define your organization in its marketing space.

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7 key elements that define your sales culture

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