The Missing Link

Agent productivity and agent retention are perennial concerns of the business and seemingly with little discernable traction being made toward a solution. This, despite the fact there is general agreement that any increase in either component would solve a lot of problems. On the productivity side, it is true that over the years the volume of business has increased, but the number of people we insure has not. Doing more and more business with fewer and fewer people is not a formula for long-term success. Productivity is most critical for new people in the business where lack of retention is also most prevalent.

There is hardly any endeavor that does not require significant preparation before production begins. The actor rehearses, the lumberjack sharpens his axe, the ballerina exercises and the scientist experiments. Such activities are referred to as “roundabout production” by economists.

Our business has been blessed uniquely by many opportunities for roundabout production; in particular, the offerings from the American College, seminars, industry meetings and company training programs add to our reservoir of learning opportunities. Many, if not most, of these programs are geared to product knowledge and information about legal and economic factors that impinge upon our marketplace. All of this is important as well as the goal of professionalism implicit in many of these opportunities. But the professional who cannot close a sale is likely to be doomed to mediocrity.

The first and foremost means by which an agent builds a clientele is through selling. Service is important, but if it does not ultimately lead to a sale, there will be no clientele to care for. That being the case, it is only fair to ask whether or not we have placed enough emphasis on basic sales training. Sales training is what pulls all this together, finds prospects and secures action day after day in the face of all kinds of objections and rejection.

One of the reasons I like local life underwriter (or advisor) meetings is that often you hear a great talk on the reality of how to make a sale or a great prospecting idea. Sometimes they remind me of my “pool hall” lesson that started me on the right track as a salesman. Too bad this opportunity is so often missed.

Product knowledge and a working knowledge of our tax laws are all most important, but in my view the shortage of effective basic sales training is the all-too-often “missing link” in our marketing strategy.

The first and foremost means by which an agent builds a clientele is through selling. Service is important, but if it does not ultimately lead to a sale, there will be no clientele to care for. That being the case, it is only fair to ask whether or not we have placed enough emphasis on basic sales training.”