Efficiency is a major key to the success of each and every insurance agency. But while it seems like an obvious factor to consider, it’s often largely overlooked. The challenge for agents begins with setting priorities and determining the best ways to meet goals. At the end of the day, efficiency is really about improving performance and maximizing time and effort. And it’s something that every agency needs to consciously address.
Here are the top three tips to make your practice run much more efficiently and, in turn, boost your bottom line.
1. Know your client’s motivation
First and foremost, you’ll be more likely to land the sale when you understand the buyer’s reasoning. All too often, agents spend too much time and effort on the hard sell, ignoring what makes each sales opportunity a bit different from the one before.
Learn to maximize your time. Become a better listener, and figure out what makes each client unique. Make sure you’re in command of the situation by quickly educating the client on how the product fits their specific needs. That means approaching the sale from the buyer’s perspective. Break it down and avoid complicated insurance terminology whenever possible. Instead, you should serve as the financial educator.
2. Vet your prospects