Finding real success as an insurance agent is all about focusing on long-term growth. But, to paraphrase the old saying, sometimes it can be a challenge to see the forest when you’re in the weeds. These four strategies can help you maintain a big-picture perspective that will set your agency up for long-term success:
Be an Expert
It’s important to know your stuff, and not just because being competent feels good. First, your customers will feel more secure. Remember that they are entrusting you with the protection of their most valuable assets; your high level of knowledge and thoroughness demonstrates a level of care that can win their loyalty even if rates are lower elsewhere.
Second, in-depth knowledge can increase your sales. When you are really familiar with all of the products and additional features available from the insurance companies that you quote, you’ll have lots of options to sell. So become conversant in the fine print of the policies you sell, read up on insurance-related topics and stay abreast of newest developments in your region and the broader industry.
Focus on Your Clients
It’s pretty simple—without clients, you won’t make any money. So you’ve got to keep the focus on them. Sometimes other topics seem to take priority: maybe your email is down, or you’ve been notified that your rent is going up 50% next month. Be careful not to let those normal business troubles take all of your attention. It’s important to remember that those issues are only concerns because they affect your ability to do your job for your clients. Solve those problems and move on.
Measure Your Success
Measuring your success is a suggestion that you’ll see repeated often on the Hometown University pages. How does it come into play on a long-term basis? It can be very motivating to compare current sales statistics to previous years. If your sales are climbing, you know your strategies are effective. If they’re in decline, you have an opportunity to course-correct before you get into trouble.
You can also look at your business on a more micro level. Measure how successful you’ve been with individual clients. For instance, try running a report of customers who have purchased homeowners insurance from you but not auto insurance, or vice versa. Are there sales opportunities that you’ve overlooked?
Focus on Long-Term Growth
Focusing on long-term growth has a way of affecting your decision making. For example, in the short term, it may seem like more hassle than it’s worth to discipline a lax employee. If you’re focused on the long term, however, you’ll evaluate that person’s worth in a different way. Ask yourself if an extended period of employee mediocrity would be acceptable—probably not. You may choose to re-mediate that person’s behavior, or you may decide to fire them. Either way, your business will be stronger for having dealt with the issue instead of letting it fester.
Insurance sales can provide a stable career with a paycheck that grows at an exponential rate every year. When you continually look to the future and make decisions with a long-term view in mind, you give yourself the direction you need to achieve a high level of personal success and satisfaction.