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9. Acquisition - Step 6 to Create an Automatic Insurance Agency

Make your new business acquisition sales processes multidimensional to increase your sales options and volume.

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Quick Summary

  • Create a multi-dimensional acquisition process and attract customers through both personal sales interactions and strong marketing messages that drive people to make purchases.
  • Cultivate meaningful conversations and provide high-quality service that goes beyond simply making sales with clients to help them connect with the value offered.
  • The aim is to go beyond relying on paid advertising and leads by generating referrals from satisfied clients through exceptional service.
  • In addition to individual sales, the strategy involves educating people in groups through in-person sessions, website content, or leveraging existing educational material to reach multiple clients simultaneously.
  • By improving the flow, eliminating unnecessary hurdles, and making the sales process smoother, create a sales process that doesn't rely solely on superstar individuals but rather on a well-defined and optimized process.

Full (Edited) Transcript


Acquisition - Step 6 to Create an Automatic Insurance Agency

Now we're at our six step of creating an automatic insurance agency. We have our vision of what we want it to look like, and we're clear about the roles of who's going to do what, how they're gonna get compensated and what systems and coaching is going to help them stay accountable. We're very clear that we want to retain our existing clients as best as possible. And now we want to focus on growing the agency. And so what I want to suggest to you is that so much of this is about making your acquisition process multi dimensional.

A lot of people have a good acquisition process or sales process, but it's kind of one dimensional. We want to have more dimensions. So there's sales, which is good person to person interaction, where we close individual policies or transactions, and then there's marketing and marketing is when our message is so strong that people walk in the door. So think of, let's say, iphones. The person who is completing the transaction, who works for Apple to have a client or a customer by an iphone doesn't really have to be an assertive or aggressive sales person or even a talented salesperson.

They just kind of need to order take because the marketing is so strong. So again, the sales being that one to one skill of connecting with somebody, perhaps persuading sharing information, discovering on facts and so on. That's great. We want that. But we also want to have our marketing be so strong that some people just come in and buy from us.

We want to have quantity of sales, and that's great. We're going to aim for goals like that number of total policies or products or items or units, however you refer to them. But we also want quality. We want good conversations with our clients that help them connect with us, help them understand the value we provide. So they're not just buying the lowest, let's say, auto coverage possible.

They're actually being educated, and they're forming a connection with us that's going to keep them longer. We want to be able to use paid advertising and leads if that helps us. But we'd rather have referrals or at least add to that referrals of clients who are satisfied with us so much so that they send their friends. And on one level, yes, it's great to ask for referrals, but it's even better when we're doing such a good job that clients naturally send their friends. It's great to do individual sales, and we want that.

We also want to be able to educate people in groups, whether that's in person or with educational content we have on our website or us leveraging content we have so that we can reach multiple people at once. It's great to be able to work a funnel where we say that X number of people, 100 people come into our sales funnel and 20 become calls and ten turn into appointments, and three turn into sales or whatever your exact numbers are. It's also great if our way of doing business leads to raving fans who are our highest quality clients, and we don't need a hundred more people like them to get another sale.

We just need them to refer their friends, and very often that one raving fan will attract many cold calling in today's world. Chances are, if you relying primarily on cold calling, that's not so good, and to really clearly define cold call where the person has no reason that they understand why you're calling them as opposed to they signed up for something or an Internet lead.

If an Internet lead said, Please call me. That's not a cold call. That might just be somebody I haven't met yet, but outright cold calling, if that's what's going on your business today. There's probably a lot of room for improvement when we have our social media and our branding communicates accurately that we do a great job. Again, that's going to attract clients.

And so a lot of the things that fall into what some people would call either service or delivery or our product offering is a huge part of our acquisition model. Hustle. It's great to Hustle. I love to hustle sometimes, but if Hustles required, it might tell us that we're missing something on the flow side. Maybe something's not as smooth.

Maybe we're too precise in our model. Maybe we're fighting our clients to get them to come in the office when we could just easily be flowing by making the sale over the phone. So there's a lot of components. Again, it's good to be able to hustle, but if we have to rely on hustle and hard work and grinding, that usually tells us again, there's other options we can be adding to our sales model. And then finally, this really sums up all of it.

When you have a less than optimal sales process, you require a superstar, whether that's you or a team member who is just awesome, as opposed to having a process that is not dependent upon some superstar, the process simply gets the results. That's a difference between needing somebody to be so awesome that they're making up for the either gaps or the shortcomings in your sales process versus having a process that's so easy that a person who's been with you for a month or two can make that sale happen.

So overall, we want to still not throw out the things on the left. We want to keep the things that are good, those one dimensional or traditional sales pieces. We want to build upon those and have a better and multi dimensional sales process model.

In our next video, we'll look at how we get into pivoting to additional sales. How do we take that client who's semi interested and see how we can help them? Some clients are going to want our full process, and we'll get to that in step eight. But some clients are simply going to say, I'm not sure I want the whole process. And yet we're going to know that they're missing something.

We're going to know we want to look out for them, and we have to find a way to open conversations in a simple way. That's powerful but doesn't stir them up, doesn't turn them off and certainly doesn't have them taking their business somewhere else. I hope you find this helpful. As always, look forward to helping you impact more people and make more money in less time. Doing what you do best so you can better enjoy your family, your friends in your life.

Thanks for listening.

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