Leaders are willing to gain new information and insights from any source—employees, clients, other industries and industry meetings. To that point, “Leaders are readers,” according to author/speaker David Nour. Improving just 1% per day in knowledge and skill means that in 70 days you’re twice as good as today, he says. Does your firm have a good dose of transformational leadership?
Staffing Over the next 10 years, 50% of current agency workers will have retired. But the next generation of leaders are ready to get involved now—don’t stand in their way. Smart agency owners invest in people and training. Some of your new hires may come from outside the industry—a great way to generate new ideas and also get strategic help, which agencies often lack. Many firms have a couple of family generations on board. But now these successful owners are handing over the reins to professional managers who are not part of the family. And if you’re looking for the best talent, be prepared to pay the best salaries—but it’s an investment in your future. Another trend of which to be very aware: Who works at your firm, what is work, where we work, when we work, how we work—even why we work—is all evolving. It’s an exciting time. Be flexible. Some of your best talent of the future won’t commute to the office 9 to 5 every day. Some will be consultants, some employees; some will work full time, and some part time, and some remotely. And some of those highly talented would-be retirees I mention above might continue to contribute to the firm under alternative circumstances. Flexible work arrangements backed up by slick, enabling technology—such as Internet phone systems—are becoming more prevalent at agencies. Do you offer a place where insurance professionals want to work? What’s your story to a new recruit? Will you earn your fair share of tomorrow’s talent?
Social The successful agency of the foreseeable future isn’t going to dabble in social media marketing—it will be a social business. Sitting on the sidelines of this incredible consumer revolution isn’t going to cut it. Nor is looking at customer and prospect marketing as a series of projects. The future agency will be fully engaged, year round, in online and social networking activity. Social is not just an isolated initiative. It must be an integrated piece of your agency’s personality. It defines how the firm communicates and engages with customers and prospects. Agents say they struggle with creating (a) the time it takes to be a social business, and (b) ideas for content - the
“what” and the “how” to do this. It’s easier than you think if you approach it from an honest and authentic standpoint. For example, I find it interesting how every day agents literally “speak” dozens of potential blog entries when they help explain a coverage or handle a claim. Write them down! Or use voice-to-text software. You don’t have to make this up on your own. For good material on developing and implementing an online, mobile and social policy, go to the ACT website. The reports will help you guide employee behavior. Once you have a system in place to interact and respond to consumers, the rest will be easier. Relationships are key to the future of consumers and agencies. Everything you do should be about building relationships with employees, business partners, prospects and customers. Software and hardware and cloud technology and social media platforms can be distracting. Put your work into a strategy, setting goals and building relationships. The social media platforms—Twitter, Facebook, and more—that you use to communicate will be a secondary consideration. Are you building relationships online? Do you allow your employees to use these tools as well?
Metrics Agencies that measure effectiveness of marketing and sales efforts tend to be much stronger, period. Knowing your numbers is a key differentiator between the growing agency and the one that is not. Key metrics to understand include new business, retention and revenue per client; number of policies per client, and from where the business comes. For more on 12 key metrics, see this excellent article by Chuck Blondino, Safeco Insurance. Are you measuring your success? If you’re falling short in some areas, how soon will you know? What’s your plan? What’s your dream for the future? In the words of the late Walt Disney, “If you can dream it, you can do it.” Peter van Aartrijk is CEO of Aartrijk, a marketing-communications firm specializing in insurance. He also is principal at strategic branding firm Chromium and Channel Harvest Research , which conducts studies of independent agency preferences/views on their carriers. He chairs ACT’s Agencies of the Future Work Group. Peter produced this article for ACT; it reflects his views and should not be construed as an official statement of ACT.
IIANM can now help you tackle these issues! Call Marit 505-999-5804
Independent Insurance Agents of New Mexico - www.iianm.org - * June 2013
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