Once an agent starts spending more time selling and less time on administrative tasks, he or she generally will start to see an immediate impact on income. To take that to the next level, however, agents may want to consider maximizing their time in their most profitable markets.
Theres an old ratio in the sales world that says 20% of your customers generate 80% of your business, explains Charles Gleason of The Gleason Corporation Inc., Sanibel, Fla.
“But whats more significant is that 80% of your customers only generate 20% of your business,” he says.
Gleason says that in order to maximize profitability for an insurance practice, agents need to spend more time working with the same type of customers that generate the majority of their revenue.