Steve AndersonThe Anderson Network, Inc.
Transformation In Agency Marketing
The phaonmneel pweor of the hmuan mnid: I cdnuolt blveiee taht I cluod aulacity uesdnatnrd waht I was rdgnieg. Aoccdrnig to a rscheearcr at Cmagbride Uinervtisy, it deosn’t mttaer in waht oredr the ltteers of a wrod are, the olny iprmoatnt tihng is taht the frist and lsat ltteer be in the rghit pclae.
The rset can be a taotl mses and you can sitll raed it wouthit a probelm. Tihs is bcuseae the huamn mnid deos not raed ervey lteter by istlef, but the wrod as a wlohe. Amzanig, huh?
Sales Culture = Higher Value
“A sales culture is the most valuable attribute an agency can possess. Since agencies with a true sales culture find a way to grow even in the worst of markets, they consistently command the highest valuation multiples in the marketplace. Investors demand growth – and will do what it takes to acquire firms that can grow regardless of market conditions.”
Kevin Stipe, Regan Consulting (NU 1/2008)
Specialty Business is King
“Savvy agents have capitalized on this trend [toward specialty business] by focusing on a particular industry and then delivering customized knowledge, service and products to customers within that industry. Agents [have] achieved higher hit ratios on new business, had better account retention on renewals, and often generated higher profits in their specialty business than in their general business.
Kevin Stipe, Regan Consulting (NU 1/2008)
Specialty Business worth more
“What is newsworthy is how much more buyers are willing to pay for specialty business than general business. By our calculations, a block of specialty business is frequently valued at 25%-50% more than a comparably sized block of general business, since it is more profitable and can be projected to grow more quickly.”
Kevin Stipe, Regan Consulting (NU 1/2008)
“Unleashing employee productivity has been a key driver of agency value growth over the past decade, and will continue to be so. Does your agency have a strategy for increasing productivity?”Kevin Stipe, Reagan Consulting, Inc.,
“In our experience, it all starts with your producers. If you’ve developed a sales culture in which your producers are relentlessly building (not simply maintaining) their portfolio of customers, then employee productivity will inevitably follow. And growth in your agency’s value won’t be far behind.”
Kevin Stipe, Regan Consulting
We are now at the dawn of a profound technology-driven transformation that will make the changes we have experienced over the past 25 years seem small and slow.
We are about to transform how we sell, market, communicate, collaborate, innovate, watch TV, learn and, as you might guess, much more.
Daniel Burrus -- January 2009
Where do you surf?
Online Auto Quotes
32.132.4
Online Auto Quotes
2.32.2
12
13
Purchased off-line?
Why Local Agent?
What are people buying online?
• Small Commercial– BOP– Auto– WC– Umbrella
• Personal Lines– Auto– Home– DUI– Motorcycle
• Other Products– Life– Health– Travel– Pet– Event
Steps to Success
• Understand customers wants & needs • Technology = Strategic advantage• Use technology to support marketing &
sales• Don’t let technology overshadow sales• Create marketing “systems”
Successful Internet Marketing
• Niche focus• Provide lots of information• Offer easy quote• Easy payment & policy issue• Allows larger geographic reach
Different Faces of Internet Marketing
• Single Purpose Web sites
• E-mail Marketing
• Traditional Marketing
• Search Engine Optimization (SEO)
The Competition• Online Quote Sites• Lead Aggregators• Direct Writers• Other Agents
Your Agency Web Site(s)
• What is the purpose?
• Multiple sites– Main Customer Service site– Multiple marketing sites
• Different site for each market focus– “Single Purpose Site”– Niche focused
Types of Single Purpose Sites
• Simple Lead Generation
• Provide indication of price
• Bindable quote & Issue
Single Purpose Web Site
• Limited Focus• Limited pages• Focused Information• Limited choices• Specific call to action• Pre-qualify prospects• Automatic follow up• Quoting process
PizzaPA
E-mail follow up
Example Agency Marketing Websites
• InsureNJContractors.com• Boardroomstrategies.com• Condowrap.com• CharterSchoolInsurance.com• NYRestaurantInsurance.com
A Successful Marketing System
• Prospect Management
• Opportunity Management
• Campaign Management
• Submission Management
• Results Management
Agency Marketing Technology
Go to: RoughNotes.com
Search for “Steve Anderson”
6 different columns on this topic
Finding Prospect Information
• InfoUSA.com (ReferenceUSA.com)• Thomas Register
(www.thomasregister.com)• Hoovers.com• www.melissadata.com• RiskMeter.com• Google (www.google.com)
Finding People information
• ZoomInfo.com• FindMeOn.com• PeekYou.com• Spock.com• Google.com
Financial Service Prospecting
• FreeERISA.com
• Norvax.com
Web Lead Aggregators
• NetQuote.com
• InsureMe.com
• iBank.com
• HomeTownQuotes.com
State & Local Government
• License database• Real Estate information
– NetrOnline.com– Zillow.com
Data Lister States
Using Social Media - Overview
• Online community of mutual interest• Not about publishing or broadcasting• All about Interactivity• Multi-media heavy
Social Networking Examples
• FaceBook.com• Linkedin.com• Twitter• CraigsList.com• Eons.com• MySpace.com
Create a Facebook Ad
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Facebook Ad Results
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Using LinkedIn Effectively
• Set up Profile• Connect with others• Join relevant Groups• Answer questions
Using Blogs
• From the Press Box -- property-casualty.com
• From Where I Sit -- michaelhyatt.com/fromwhereisit
• Insurance Scrawl -- insurancescrawl.com
• Insurance Buzzer -- insurancebuzzer.com
How can prospects find you?
• Internet search• Traditional marketing• Other
Web searching
10 Simple Steps to increase “Findability”
• Internal Steps:– Web Design– Create a Site Map– Pay attention to Page Titles– Pay attention to Page Headings– Pictures & other images
10 Easy Steps
• External Steps:– Add to Google Maps– Ads for reviews– Get listed in other directories– Use Insurance company websites– Start doing something today!
Google Local Business
Using video on your web site
• Personalize the site• Create connection• Provide information• It’s easier than you think• Ideas
– Client testimonials– Web site introduction– Key benefits
Create Custom Training
• New Employee Orientation• New Employee Training• Custom Software Training• Visual Procedure Guide• Client Coverage Explanations
Flip Video
Video Creation Tools
• Screen Shots– Snagit (TechSmith.com) Example
• Web Recording– Camtasia (TechSmith.com)– Captivate (Adobe.com)
• Live Video– Microsoft MovieMaker (Microsoft.com)– Visual Communicator v3 (Adobe.com)
EyeJot
www.eyejot.com
Opportunity Management
Opportunity Management is the process of qualifying a prospect and assessing what it will take for you to close the deal.
Key Questions
• Is this a real opportunity?• Will we be competitive?• Can we win the deal?• Do we really want it?
Opportunity Management
• Track key indicators• Grade prospect quality• Determine what to work & when
Campaign Management
• Build relationships• Define the marketing process• Systematize the process• Managed by internal staff
Leave MessageSend email FU
NoResponse
FU call
3 Days
No Response
Leave MessageSend 2nd Email
FU
Sales PitchReachProspect
2nd FU Call
3 Days
ReachProspect
OvercomeObjections
Noresponse
Yes, Wants CN
Not Interested
Sign upAccountProcess
Email SubscriberAgreement
5 days
AgreementReceived?
No
Send WelcomeEmailYes
Phone Call/Optional Email
VM/FU Email
NotInterested
Not Now
AgreementReceived?
5 days orprospectfeedback
Yes
NotReceived
or no contact
2nd Phone/VMCall
FU Email
No
NotInterested
Yes, Wants CN
Yes
Still NotInterested
Notify CS
GradeProspect
and sent toLong Term
Wait
Initial Call toProspect
Still NotNow
Marketing Flow
Long TermWait
Grade B
Long TermWait
Grade C & D
Letter Email
Long TermWait
ContactGrade A
1st MonthEmail
2nd MonthPhone
Call
3rd MonthEmail
4th MonthPhone
Call
6th MonthPhone
Call
5th MonthEmail
7th MonthEmail
8th MonthEmail
9th MonthEmail
10th MonthPhone Call
11th MonthEmail
12th MonthPhone Call
Re-evaluate and/or re-grade to
determine whatto do next
15 days
Go to 2ndYear LongTerm Wait
EmailEmailEmail Email Email
EmailEmailEmailEmailEmailEmail
30 days 30 days 30 days 30 days 30 days
30 days
30 days30 days30 days30 days30 days
Letter
30 days
Long Term Wait
Submission Management
• Creating submissions• Delivering submissions• Track submission status • Track submission results
Delivering Submissions
• Print & Mail
• PDF email attachments
• Web site links
• Delivery services– YouSendIt.com– SendThisFile.com
Results Management
• Agency results– Revenue goals– Expense goals
• Producer results– Producer Goal Setting Worksheet– On track?
• Business Partner results– Submission tracking
Standalone Software Systems
• ACT (no campaign management)• Goldmine (www.frontrange.com)
– Automated Processes• MAPS (www.martechmaps.com)
– Insurance specific campaign management• Microsoft CRM
Web Based Systems
• ASP Sales Source (www.aspsalesource.com)• NOVASalesPro.com• eSemc.com• Leads360.com• Salesforce.com• FreeCRM.com
Payment Methods
• Direct Bill• Credit Cards• E-Checks (drafts)• PayPal
Accepting Credit/Debit Cards
• Charges “convenience fee”
• Online payment processing
• Conditional payment
SimplyEasierPayments.com
Is this legal?
“Nothing in the New York Insurance Law or regulations promulgated there under prohibits an entity that provides a service to insurance policyholders that enables them to pay their insurance premiums electronically by credit card from charging those policyholders a fee to cover credit card and other service expenses.
“[A]n insurer (or anyone acting on the insurer's behalf) may not impose a credit card surcharge on a policyholder. [Simply Easier Payments], by contrast, is not selling insurance and is not acting on any insurer's behalf. Rather, it is providing (and charging for) a distinct service, i.e., the making of secure payments via electronic means. Therefore, your client's activities are prohibited by neither the New York Insurance Law nor N.Y. Gen. Bus. Law § 518.”
New York Department of Insurance
Service after the sale
• Transaction processing• 24/7 customer service access• Certificates• Email
24/7 Customer service options
• CSR24• CertificatesNow• Management system
– InScope– AMS - Service 24/7
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Steve Anderson The Anderson Network, Inc. PO Box 1546Franklin, TN 37065(615) [email protected]