https://completemarkets.com/Article/article-post/2372/Payday-WhatS-An-Agency-Owner-Worth/
... production, because production fuels the profit engine. It becomes a double whammy when owners with slipping production take up the slack in their personal income by taking too much of the income pie for management, which is not a full-time job in most insurance agencies. The key is to avoid spending too little time on management and then compensating too highly for it. THE POWER OF PRODUCTION One of the beauties of the agency business is that it partly reseeds itself with renewals. But without new production, agencies eventually turn unprofitable. It's easy to understand how owners drift away from production as their primary means of personal income. As an agency grows, it begins to generate reasonable renewal income while creating increasing management responsibilities. The challenge is to find ways to minimize management distractions and resist falling into the ... increase their equity value in the long term. A transition plan can help to make sure no one has to take an immediate, large hit. In most agencies with inequitable owner compensation structures, it took time to sink into this situation, and it'll take time to dig out. To begin to formulate a fair owner compensation plan, set a value for each area of performance: management, production, and ownership Whether an agency has two or 10 owners, each individual's compensation must be measured against the value of these contributions. VALUING MANAGEMENT Let's face it, the management function shouldn't be compensated at the same level as production. Production is the primary basis for compensation, because production fuels revenue. All else is expense. So it's not unusual - and shouldn't be viewed as such- ...
https://completemarkets.com/Article/article-post/1915/%E2%80%98IT-AINT-EASY-BEING-A-CUSTOMER-ANYMORE/
...ess books, or seminars) but, like beauty, “lies in the eye of the behold...the product. Weave an assortment of products, commodities, and services into a...
https://completemarkets.com/Article/article-post/978/OWNERSHIP-ISSUES-AND-COMPENSATION/
...profits of their department. The beauty of most of these plans is that the re...
https://completemarkets.com/Article/article-post/374/Solidifying-The-Bond-With-Your-Customer/
...ame Hikari, unless they're in the beauty salon industry. Hikari is a scissors ...
https://completemarkets.com/Article/article-post/501/Ten-Deadly-Website-Sins/
...ng for information, services, or products. For the most part, they aren’t inte...
https://completemarkets.com/Article/article-post/425/Is-Bank-Insurance-Working/
...rance distribution. Success, like beauty, might lie in the eye of the beholder...
https://completemarkets.com/Article/article-post/827/The-Do%E2%80%99S-And-Don%E2%80%99Ts-Of-E-Marketing/
... level. Unlike print or broadcast media, all of your readers won't see your e-mail marketing in the same way. Some have older computers with dial-up connections. Some have PCs, and others have Macs. Unless you have a highly tech-savvy audience, it's best to use HTML with caution. Always test your promotion before launching. Don't require downloads of software or PDFs. Speed is one of the beauties of e-mail marketing. Many people won't bother viewing material and demonstrations that require downloads. FREQUENCY THRESHOLD Do know your readers' frequency tolerance. There are no hard and fast rules governing the frequency of e-mail marketing. Frequency preferences vary by product and consumer; as a rule, it's better to send news-related messages daily, while mailing special offers weekly or monthly. Let your content and readers lead ... way, but follow a set schedule — and stick with it. Don't blast promotion after promotion. People don't want to be bombarded with e-mails, and unwanted blasts quickly end up in the Delete folder. On the other hand, send e-mailings too infrequently and you risk being forgotten. To keep your brand in top-of-the-mind awareness, I'd recommend e-mailing at least monthly. TIME TO SEND Do send your e-mail marketing piece midweek and midday. According to DM News, Tuesday, Wednesday, and Thursday achieve better results than the beginning or the end of the week. Also, mid-day delivery is more productive than morning or evening. Be cautious though — this can vary by industry — retail offers can be effective at the end of the week. Don't send on Friday or after 3:00 p.m ...
https://completemarkets.com/Article/article-post/744/The-Agency-Management-Process/
... done for more than 10 years. The beauty of this redeployment is that it requi...
https://completemarkets.com/Article/article-post/1335/CLIENT-COMMUNICATIONS-CREATE-GOODWILL/
... Develop consumer trust. Promote products that satisfy real needs and provide ...rth Plan, makers of Earth-sensitive products, based in Sherman Oaks, Californi...
https://completemarkets.com/Article/article-post/597/The-Illusion-Of-Service/
... New Business Representative buried herself. At the end of the conversation she said, I think I have everything that I need. Let me see if I can find a company who will take you. I will call you back when I have something. She was going to seek a company that would take me'?! My consumer side took offense. This was my dream home, a 200-year-old beautiful house already designated a historic home! She was alluding to the fact that my dream home may be rejected' by many companies. As a former underwriter, I knew exactly why she made the remark. However, she should never have said that to a potential customer. My next call was to the second agency, a branch purchased recently by a multilocation local regional agency (covering one ... them easy, rather than hard?) Being customer friendly is the single most important ingredient that differentiates successful (def. = growing) from unsuccessful (def. = stagnant) agencies. It's all really quite simple: Treat customers and prospects as you would like to be treated yourself (politely, with respect, quickly, and efficiently, with an attitude that the employee wants to provide the product or service that you require) . E. Al Diamond is president of Agency Consulting Group, Inc., 507 North Kings Hwy., C., Cherry Hill, NJ 08034. You can reach him at (856) 779-2430, (800) 779-2430, toll free,fax (856) 779-6224, e-mail [email protected] or visit www.agencyconsulting.com . Login or Register (for ...