Think about that question for a few minutes and let it really sink in. Because not everyone will get high benefit from the work you do best. And you aren’t the best at everything. So, we need to find a match between what we do best and those who need the things we do.
The time comes when you know you need to make changes in your business, but changes can be intimidating. How do you know if the team will accept the new ideas? How do you know if the clients will like it? How do you know the changes will even work?
I have the craziest conversations with people telling me that social media and marketing activities are a waste of time, and they don’t see how social/marketing could influence anything substantial, like their business. And when I look at their LinkedIn profiles, I see zero activity. Yet, some have hundreds of connections.
Go figure? They believe in it enough to use it as a Rolodex, but don’t believe in it enough to actually use it for strengthening their business connections.
Insurance advisers are definitely in the sales business, but is this a relationship business, as well?
“Describe your brand for me. What is it that you want people thinking, feeling, saying about you?”
How would you answer that question? Would it have something to do with being helpful? Responsive? Great customer service? Nice? Friendly?
I frequently hear those types of responses when asking the question about brand. But, honestly, that’s far from enough.
Empty pipeline. Anemic pipeline.
I’m guessing one of these is a pretty good description of what yours looks like right now.
We survey readers on our website, asking them what their biggest agency challenges are and 42% of respondents say it’s the pipeline.
The last decade has shown multiple record-breaking years for the number of independent agency sales. According to Optis Partners, an investment banking and financial consulting firm specializing in the insurance industry, the most active buyers taking the lead in last few years have been private-equity backed firms. Bringing up second place for buyers are private brokers, followed by public brokers in third.
Q4intelligence top blog posts of 2016, Part 2 of 2: Business Practices
We’ve combed through the year’s data of all the reading and liking and sharing that has been done around our articles, and this year a definite theme emerged:
You recognize that status quo isn’t working anymore and you need to make changes to your business model to remain relevant to your clients.
Q4intelligence top blog posts of 2016, Part 1 of 2: Positioning & Communication
The insurance industry is obviously experiencing constant change, and just like everyone else in any industry, agencies are turning to the internet to look for information that addresses some critically important questions about the life of your business.
We hear agency stories every day, some in great depth and detail and some quick ideas shared through emails or conversations. One thing that remains frustratingly constant is short-sighted decision-making from the leadership team.