Search CompleteMarkets

... were rich, that might not be so bad. Chances are that you aren't rich, though, so look for opportunities to utilize these ideas. You'll probably want your management to review your correspondence to make sure it meets certain criteria. Remember, you're promoting yourself and your agency. Self-promotion is an excellent way to build business. It's an inexpensive way to let people know who you are. EXERCISE Create a plan of action for writing an article and having it published. Subject: _____ Title: _____ Date to begin writing: ____ Date to complete writing: ____ Date sent to management for compliance: ____ Develop list of publishers with address and contact (date ): ____ Mail article and follow up. Follow the steps in the Articles and Speeches section. ... /29/2015 12:00:00 AM by Randy Schwantz This content has not been rated yet. Nothing happens until somebody sells something. To make sales happen, IMMS.com Key Sales Consultant Randy Schwantz has created a comprehensive series of 43 Producer Success Lessons. Used singly or in combination, these powerful tools can help your producers build their skills and grow their sales. Overheard at the country club: Golf Student: Is it spelled p-u-t, or p-u-t-t? Golf Pro: P-u-t-t is correct. Put' means to place something exactly where you want it. Putt' is the vain attempt to do the same thing. Self-promotion is a lot like this joke. You want to convey a particular message, and you've targeted a certain market where you want that message to be effective — ...

... engaged the prospect in the process - he told the salesperson exactly where it hurt. Finally, the salesperson asked the prospect to put a value on solving the problem ( 'How much would it be worth .. ? ') . By asking focused questions and listening closely to the responses, this salesperson turned intellectual pain into the more intense emotional pain that's necessary for a sale to happen. EXERCISE List likely areas of client dissatisfaction for each line of business you write. For example: Auto - poor service, slow claims, price. Next to each area, write two or three other things that area is likely to affect. For example: Slow claims on auto - other areas affected are rental car costs, inconvenience, missed connections. Using the items affected by each area of ... ? Prospect: Not always. Last year, it took them two weeks to process a claim. I was driving a rental car around. I sure would have paid more for insurance that would have covered the car. Salesperson: Your current coverage doesn't pay for a rental car? Prospect: It does, but only for a subcompact. I can't drive a car like that to the country club. So I had to pay the extra cost of a luxury model out of pocket. Salesperson: So the extra cost for the rental car was sort of like an extra insurance premium? Prospect: You could look at it like that. Salesperson: Wow. So poor service from ABC cost you two weeks of time and an upgrade to a luxury rental car How much are you saving ...

... to let people know who you are. EXERCISE Create a plan of action for writing ...

... your agency stands. It's a good exercise for any agency at any time. It's esp...

...ecessary for a sale to happen. EXERCISE List likely areas of clien...

...n agent, every transaction is an exercise in process and balancing is not even...

... have $1 of commission minus the cost of operating the agency. A big percentage of that commission income usually goes to expenses other than production. Knowing where the money goes is essential for agencies trying to figure out how much they can afford to pay producers. The worksheet at the end of this article is an easy way to get a snapshot of where your agency stands. It's a good exercise for any agency at any time. It's especially helpful for an agency looking to bring in a new producer, turn around a dwindling profit picture, or boost its value as a going concern. Let's walk through the worksheet. ADMINISTRATIVE EXPENSE Add up the cost of office payroll, rent, light, heat, bad debts, dues, and subscriptions-every agencywide operating expense. Include advertising because the ... figure out how much to pay your producers by asking, What's the agency down the street paying? ' Beware! Pegging compensation to what the competition is doing can be a costly mistake. Your competitors may be paying too much and headed for bankruptcy-or paying too little and riding a merry-go-round in turnover. Every agency is different. Some provide their producers with leads, expense accounts, auto allowances, club memberships, sales management, and other costly direct-sales support. Others don't. Most agencies provide service support and invest in other retention-building tools. Some agencies are highly efficient and have low operating expenses. Others have very high overhead. Most are somewhere in between. A few agencies make the fatal mistake of thinking they have $1 of commission to split with producers. They don't. They have ...