The Formula to Success

Results are the bloodline of our agencies, without them we are no longer in business.  How to get to those results can potentially be as complex or as simple as you want it to be.  Last week, I was working with an agency owner in Florida, and he gave me the best formula that I have ever heard to achieve amazing results.  Roderick Crabbe said, “ACTIVITY x EFFECTIVENESS = RESULTS”.

I started immediately thinking of how this applied to my agency and what I found was that this is the best way to describe my agency’s success.  In my agency, we concentrate on ACTIVITY and EFFECTIVENESS and those 2 items produce our amazing RESULTS year in and year out.

Let’s start with ACTIVITY.  There are many metrics that you can look at in your agency such as talk time, dials, mailers, but ultimately QUOTES are the strongest predictor of results.  I will concede that if you do not make the calls, you will not get the quotes, which brings us back to quotes as the most important metric in writing new business. 

If you have an LSP that is making the dials but not getting the quotes, then that is where their EFFECTIVENESS comes into the equation.  EFFECTIVENESS is going to be seen in one item but can be applied in many ways.  That one item is the talk path.  The talk path should be the same for everyone in your agency so you can guarantee that your LSP’s are all covering the same topics.  The talk path should be flexible enough to allow your staff to be themselves within your process.  The talk path is the foundation of your agency, without it your agency would crumble.  The talk path should be included in outbound and inbound conversations.  In my agency, our quote talk path is called the Insurance 360.  The Insurance 360 allowed me, as the agency owner, to know that everyone in my office is following the same process to gather the correct information for the quote. 

Let’s start with outbound talk paths.   Before an LSP got the Insurance 360 they would use an assumptive opening.  They were taught to never ask if the prospect wants a quote, but to assume they do and use our talk path to engage the prospect as we start verifying their information.  Once we verified their information, we would transition into the Insurance 360 where the LSP would always lead with a coverage conversation.

Inbound talk paths should be very similar, however you already know that the person wants a quote.  Your LSP should be able to follow the same talk path as the outbound call to collect the information necessary to complete the quote.

Whether it is outbound or inbound you should always lead with a coverage conversation.  The best way to do this is by telling a story that demonstrates why the prospect should desire the correct coverage.  This talk path will show the importance of correct coverage and move PRICE down on their priority list when it comes to decision making.

As you can see, the ACTIVITY that needs to be tracked is quotes and the EFFECTIVENESS is your talk path.  As an agency owner, if you can master coaching your staff on these 2 aspects of your business then the RESULTS will be amazing.

If you need assistance on your talk path, please email me at [email protected] to schedule a FREE 20-minute call.