Growth Is Important but Maintenance Is Essential
How to Maintain A Successful Agency?
Building a successful independent insurance agency is hard work. There are many steps you can take to ensure your growth is consistent, but once you have established yourself as a successful business, the hard work comes when you have to maintain that status.
Innovation and technology are essential elements to your growth, but other factors take over the spotlight during your maintenance stage. At this point, relationships are what matter most. Solid relationships with your clients become long-term and keep your business afloat.
Keep Your Focus on Your Clients
From the moment you make contact with a potential client and throughout your journey together, what’s most important is not the products you can provide them with or how you can meet their insurance needs, but the relationship you manage to develop along the way. Having a “relationship mindset” helps businesses remain relevant throughout the years.
Never Stop Looking for Prospects
Don’t give up on client contact. It’s great if you have a solid client base but just because you have long-time clients, you shouldn’t stop looking for new ones. It’s normal to have a small percentage of client loss every year, so it’s a good practice to talk to new people to make up for that continuously.
Continue to Study the Market
Things change as time goes by. You might be very knowledgeable about the insurance market, but you never finish learning. Market trends change and so do clients. Targeting the right prospects and pursuing them in the right markets should always be a priority for your independent insurance agency. Take time to study market changes and make decisions to adapt your strategy as needed. Evolution is always a good thing.