Identifying and Refining your Niche
Included in this training:
There are a series of around 10 questions you need to ask yourself when defining your perfect insurance niche.
The hard part isn’t asking them, instead, it’s being able to definitely answer them.
Personal or Commercial Lines?
This is the very first question that’s going to dramatically simplify your insurance life.
Answering it doesn’t forbid you from ever selling policy on the losing side. Instead, it just cuts the amount of information you need to create online in half.
Once one niche is up and running online and leads start pouring in, then you can consider expanding.
What are You Good at?
Just because you’ve been doing something doesn’t mean you have to keep doing it online.
Of course, if you can keep doing what you’re already good at online you’re niche development will be that much further ahead.
If you can transition your current insurance expertise into your new online niche there’s a lot about what’s coming next that you’ll already know.
Regardless of any decision, you make about who you want to target, it needs to make money for your agency.
That means you need to properly factor the amount of volume you might have within your reach and the amount of time it takes to sell it.
If not, you’ll quickly find yourself an agency succeeding to failer.
How Many Prospects?
Depending on how specific you want to get will determine how many opportunities you’ll be able to find.
This is a delicate balance that will only be found through trial and error.
Once you’ve gotten this far down the process you need to make sure you can partner with the best companies for your niche.
Or finding clever and competitive ways to use what you have to your advantage.
Speaking the Language
This is the most important step when properly developing a niche that works.
If you’re working from your original area of expertise this should already be second nature.
If you’re looking to swim in blue ocean the faster and more effective you get at understanding the people you want to serve the better.
Refinement and Premium Triggers
This is the final step in making sure you’re able to be laser-focused on the people that can make your agency the most money.
Figuring how just how deep the rabbit hole goes is where you can separate yourself from the pack. Combine that with your ability to identify valuable premium triggers and you’ll be maximizing everything your new niche has to offer.