The good news is, it’s probably better than most. The bad news is, not many agencies are doing it.
Yesterday was the last basketball game of the season followed by an afternoon/evening sans two children. Today I’m pretty sure my only responsibility, outside of buying food for the house, is getting those two kids back.
I had an agent reach out to me this week to get a feel for how their growth compared to the rest of the industry.
Now, first I’m not going to pretend to be the Elias Sports Bureau of insurance. However, having talked to enough agents over the years, I have a decent feel for a few key baseline statistics.
From what I can tell, the numbers aren’t great.
If you’re growing at all, company reps might attempt a backflip. They’ll definitely at least give a cartwheel a try.
That growth usually sits between 1-3 percent year-over-year.
If you’re really cooking, five percent should snag you unlimited free lunch meetings and maybe even a plaque.
Anything over 10 is grounds for a parade and company wide holiday in your name.
During our team meeting in Milwaukee this week, Ryan said, we never want the industry to be our standard.
That means, crawling over the growth bar we currently have lying on the ground isn’t much of a physical challenge.
Much like the things we’re doing and want to do at Agency Nation, they can’t be measured by current insurance expectations.
Which you may or may not see demonstrated in the next few months.
We need to set a different bar.
A bar that you might even need a running start to clear.
But how do you grow?
That’s a fair question.
What are those showboating agencies doing to put up such gaudy numbers?
That’s an even better question.
Here are the three things I see every successful agency doing today.
1. Find a niche.
I’ll keep saying it until you do it.
2. Create content (for niche).
This is key for number three.
3. Build a (referral) network.
Focus on relationships that create multiple (see ongoing) sales opportunities.
Rinse and repeat.
That’s a good growth strategy.
Of course, I won’t stop you from mixing in awesome technology, or the best you can find right now.
You could even sprinkle in an above average customer experience for good measure.
The only challenge is doing it over and over and over again.
Staying focused on your niche, all day, everyday.
Consistently hitting publish (no matter what).
Always shaking hands and kissing babies that will bring you more business.
The last, and possibly most difficult question you need to ask is, what’s standing in your way?
Depending on how your agency is currently set up, it could be a lot.
Or not that much at all.
No matter how much there is, you just have to take it one step at a time.
It’s not a race and no one is keeping score. Well, maybe a little.
But that shouldn’t stop you from getting good growth.
See you out there and enjoy your Sunday.
On Agency Nation This Week
Is It Good Enough? (IIYW)
Insurance Industry: You’ve Been Warned (The Show)
The Insurance Revolution That’s Coming (The Giangola Effect)
Ask Kodiak: Engineering 40 Tabs into One (Interview)
What Makes or Breaks a Work-From-Home Policy? (Front Roe)