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Archive for July, 2014

I Love These Clients

For the past few weeks I’ve been coaching a team of relatively young producers. They are bright, eager and want to win. You’d be surprised at how often in our consulting we run across clients who lack this kind of motivation.

These guys want to win every day. They want to get better every day. They are open and want to learn from failure every day. As their coach I am rewarded emotionally by the sense of accomplishment I feel when they take something away from our conversation and implement it. I am rewarded intellectually by having to connect with them from where they are vs. where they strive to be. They are doing great work and I’m confident in how our engagement is helping them see a bigger picture and contributing to their success.

How do you connect with your clients? Are your relationships rewarding. Do you learn something new everyday? Do you have a sense of accomplishment from what you do? If not, maybe it’s time to gain clarity around who you want to work with, and why..

Beware of the “Hail Mary” Trap

We have entered the second half of 2014, and many Producers are not half way to their annual new business revenue goal. As a result, in the process of trying to catch up, we see Producers start chasing low probability opportunities and throwing “Hail Mary” passes toward the end zone. This pattern frequently repeats itself year after year and creates stress for the Producer and less than satisfactory results.

It’s tough to get off this treadmill, but at some point it is necessary to take the plunge. We encourage Producers in the last half of a calendar year to make certain they are positioned to open the next year strong. If a Producer can write 2 to 3 large accounts on January 1, the whole world changes for them. Entering a year strong allows the Producer to better select their prospects and gives them the “walk away” power with low probability prospects.

Typically you don’t open a new calendar year strong if you wait until 90 days before renewal to get engaged with prospects. Start now and sift through 10 to 15 suspects that renew on January 1. Determine which ones are the best fits to move forward, and gain agreements to do business before the holidays.

We encourage you to endeavor to avoid the “catch up” game. You may take a short term hit, but if you open the new year strong you can change the game for many years to come.

The 2 Anchors Hindering Producer Performance

In a recent conversation with an insurance agency principal we were discussing the role of the producer. Actually the many roles of producers; business developer, sales person and account servicer.

Each role asked of the producer requires a different set of wiring. The business development role requires someone to make multiple phone calls, over an extended period of time with the idea of creating a highly qualified sales ready opportunity. Focus, consistency, the ability to connect with different buying styles and “sell a first appointment” is essential. A true producer, one whose only goal is to grow their book organically, requires leadership. They must be able to deal with buying teams, business complexity, and lead change behavior. Account management and servicing requires a steady hand to drive implementation, calendars task and execute the agency’s value proposition in a timely and efficient manner.

With their hands in so many roles is it any surprise that producers struggle to write new business? Perhaps it’s time to remove the anchors that hinder producer performance. The technology companies and other forward thinking industries recognized years back that greater rewards are possible for all when sales professionals focus on selling instead of developing and nurturing leads or servicing accounts.

What kinds of anchors are hindering organic growth in your agency?

Can You Sell a 20 Minute Meeting?

In this crazy, harried world of time starved and distracted buyers, it is increasingly vital for insurance agents to be able to prompt a decision maker to take a 20 minute meeting.  Most business leaders and decision makers are defending their calendar like a rabid dog with a bone.  You don’t get on it, unless the decision maker feels they will get value from the first meeting with you.

Ask yourself the following questions before you pick up the phone to contact a prospect:

• Why should someone meet with you?
• What will they get from the first meeting?
• Why would they want to take the next step which is likely an assessment?

The days of, “I am an insurance agent and I would like to come by and introduce myself and discuss your insurance program,” are long gone.  Decision makers can stick their foot outside their door and trip insurance agents walking by that can deliver on that promise.

Decision makers don’t have time to waste.  They don’t need friends or new relationships.  They need people who will help them learn what they don’t know and to see around the corner at risks off their radar screen.

So, tell me.  What value will I get from a 20 minute meeting with you?

Fresh Eyes, New Opportunities

When was the last time you asked a colleague to review one of your top accounts? Sometimes in our belief we’ve done the best job possible, we lose sight of the opportunities in front of us. Recently a client shared a story with us that I suspect could have happened at any agency.

As the new sales manager he was taking his production staff through a new cross-selling and up-selling exercise. A producer with good bit of experience was fairly confident that his accounts were “buttoned tight.” However, when a set of fresh eyes reviewed the account and policies new opportunities emerged.

This happens all the time. The lesson here: get a fresh perspective on your top accounts from someone within your agency, before the competition outside does!