Tips For Small Insurance Agencies At Small Companies Agencies Close Big Deals
To close a big deal, you have to know what a big deal is. What is a big deal for a producer? Well, this depends on who you ask. For smaller agencies, a policy generating less than $10,000 in premium could be considered small, while a larger account may be in the $45,000 to $100,000 range. Agencies vary on their commission splits with producers and whether or not you have a vested ownership of your book of business. For example, if you get a small base salary and a 40/60 producer/agency split, it is going to make the most business sense for you to try to land those larger accounts. You can use these three tips to help get you kick-started on the journey to closing more big deals.
#1 Don’t Skip out on Tradeshows/Conventions
To close the big deal it makes sense that you must first—find the big deal! Get yourself in front of as many trade and business association meetings/conventions as possible. If your agency is fortunate enough to secure a booth at one of these trade show conventions, come armed with plenty of giveaways and business cards. Even in these increased days of social media networking, which indeed has an important place in the modern insurance sales process, there is something to be said for good old-fashioned “word of mouth” referrals and meeting potential clients face-to-face, armed with information about what you can do to provide their insurance needs.
I know a small agency producer who…