As an Insurance Agent you have probably asked these questions, “What is the best Marketing Program?” “Where is the best place to buy Leads?” “How do I get leads from Facebook, Instagram and/or LinkedIn?” All of these are valuable questions….but probably the wrong question to start with unless you are literally brand new to the Industry and don’t know a single person (if so, might want to reconsider this career!)
Today’s message is not going to be NEW to most of you, yet IT NEEDS TO BE REPEATED because you and most Insurance Agents in the Industry are still failing to grasp the potential and opportunity of this concept.
It has been stated that the average consumer has Insurance product needs that range from six (6) to eight (8) Products in their household YET and that is a very large YET, the average Insurance Agency has a Product density of only 2.5 Products per household. Using simple math this tells me that Insurance Agents and their Teams have penetrated less than 50% of the overall opportunity within the household! Those other 3.5-5.5 Products have already been purchased somewhere else….WHY ARE THEY NOT WITH YOUR AGENCY?
To answer that question requires a deep hard look in the mirror at yourself as the Insurance Agent and specifically if you are the Agency Owner that you have failed to communicate your value to your clients and had a systematic, consistent ongoing approach to working with B.O.B (book of business)!
THOUGHTS TO PONDER TODAY: If your Insurance Agency today has 500 Households with 2.5 Products per Household, what could it mean if that Product Per Household went to 5! Double the revenue and double your Agency…with the same CLIENTS! Do you routinely and systematically work with your clients? At renewal, at anniversary or by alphabet, it doesn’t matter. Before you spend another $$$ in New Business Marketing, STOP and ask this question: “IS B.O.B my best friend, do I know everything about B.O.B and have I been a good friend to B.O.B by looking out for all of his/her needs?
John Lucero, is a successful business owner with over 20 years of experience in multi-line insurance agency operations for several major National Brands. With an expertise in Recruiting, Educating, Coaching, Developing and Product Knowledge, his passion and drive to ELEVATE Insurance Agencies to higher levels of success is what keeps him inspired about the future and motivated about making a difference.
