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Successful Agencies Know How to Grow

April 25th, 2019

An insurance agency that doesn’t grow begins to stagnate. Growth takes change and while change is never easy, it is necessary for success in today’s competitive insurance marketplace. An agency that isn’t growing may eventually end up closing its doors.

What does it take to be a successful agency? To begin with, you will need a growth and marketing strategy. Here are a few aspects of a well-devised plan to help you grow your agency.

Growth strategy

If you don’t know where you need to be, you’ll never get there. In agency goal setting, look at the big picture. Where do you want your agency to be in five years? 10 or 20 years? Develop short- and long-term goals for growing your agency’s premium, hiring necessary staff to do the job, building industry affiliations, and modifying your product offerings as necessary. Do your processes get the job done efficiently? Technology will play a key role in helping your agency reach growth goals.

Marketing strategy

Insurance doesn’t sell itself. In other words, if you build it, they won’t necessarily come. You must make the face of your insurance agency well known among customers, competitors, vendors, industry associations and more. This includes a social media footprint, an accessible and user-friendly website, marketing brochures, customer giveaways and perhaps even paying for industry leads.

Don’t be afraid to try new things. If one thing doesn’t work, try something different until you find the right solution to get your agency in front of prospective buyers who need and want your services.

Assure Alliance offers insurance agencies unique growth opportunities. Membership gives you access to resources including access to regional and national insurance companies/specialty markets, assistance with placing large accounts, portfolio management services through SIAA, and so much more. Come find out what you’ve been missing!