Building a 21st Century Agency

Ryan J. Pinney Pinney Insurance Roseville, CA13 Key Themes for Insurance Sales in the 21st Century: Pricing, underwriting, products, and service dont matter

What I do doesnt matter until its about the client

Sales funnel based on conversion, up-sell, cross-sell, referrals

A Changing IndustryFierce competition+Producers & agencies are seen as commodities

+Lost the personal touch that made our industry great

+Consumers shop and buy differently now

= Pricing, underwriting, products, and service dont matter

Customer 2.0Unlimited access to knowledge

Seeks advice online from mega distributors (Amazon)

Uses social media to get recommendations

Doesnt see the typical salesperson as providing value

How do you turn Customer 2.0 into a client?

Sales 2.0Interact w/clients on social media to gain real-life insight about their needs

Prove your service has value: I will help you with your personal financial goals NOT I have a great insurance product for you.

What I do doesnt matter until its about the client

TIP: Agency managers, encourage your producers to focus on value

The 21st Century Sales Funnel

Generate Leads with Your Sales FunnelDo: Focus on existing clientele and centers of influence to find your best leads.

Dont: Spend all your time trying to generate new leads or internet leads .

Spend time in the top and bottom of the funnel, not just the middle.

The Opportunity CycleSuspects: Communicate effectively with them; 84% will buy from you or a competitor within 24 months.

The Opportunity CycleProspects: Create a lead nurturing process to take them from interested to ready to buy.

The Opportunity CycleBuyers: Turn customers into clients and advocates; they represent 80% of profits and less than 20% of expenses.

Up Sell, Cross Sell, ReferralsUpsell: add value for your client with riders, policy options

Cross-sell: add additional products and services with these marketing tips:

Customize

Use memorable visuals

Create an emotional connection

Solve their problem

Explain subjects clearly with visuals

Referrals: Use social media to ask for the referrals you want

Tools of a 21st Century ProducerCRM: track prospects, leads, and clients; set up automated marketing

Web communication: email, texting, blogging, social media, website

Analysis & data tracking: learn how and when your marketing is effective

Standardize, Systematize, AutomateStandardize: Perform tasks the same way every time

Systematize: Schedule tasks youve systematized, like fact finding and annual reviews

Automate: Technology completes your tasks for you.

Rinse & Repeat: Never stop reviewing & improving process.

Stand-Up, Stand-Out, & Be Different!Decide to change

Find a niche

DifferentiateIf youre saying and doing the same things as your competitors youre just a commodity!

Thank you!