Insurance Soup Blog
As we round the final stretch of the year and begin to button things up in 2020, many agents and agencies are beginning to focus on their goals for next year. Most of us, exhausted from riding the roller coaster of 2020 and likely realizing our own abilities to pivot and produce anyway, are probably saying that we're prepared for anything that comes our way in 2021.
While our newfound adaptability is one bright spot from 2020, it's nothing that any of us should be relying on going into the new year. In fact, if it has taught us anything, it is that agency preparedness and realistic goal setting are two important factors in next year's success. Here are a few tips that should help you plan ahead.
DETERMINE YOUR OVERALL BUSINESS GOAL
You'll want to start this process by determining what youth overall business goal for yourself or your agency will be for the coming year. This is a great way for all of the additional goals you set for yourself to stay in line under one main umbrella.
You'll want to consider how many clients you'll aim to serve, the amount of policies you'd like to write and/or a percentage of revenue growth from the previous year. You can also set goals around creating new positions, hiring and bringing on new products.
Be sure to look at the past few years and determine what is a reasonable goal to set for yourself. You're also going to want to keep in mind any competitor business and how those are faring as well.
DETERMINE YOUR SALES GOALS
Your sales goal is next and while it seems like your sales goal should be your main goal, there are a lot of other factors that go into it, which is why it should be treated as its own entity. Sales goals can be broken out into weekly, quarterly or seasonal goals and should then be tracked or monitored accordingly.
Some agents find that organizing goals out by product, service or new/returning customer works best for them, but ultimately that's for each person or agency to decide for themselves.
Be sure to keep your sales goals within the realm of possibility. OF course we all want to shoot for the stars, but setting a goal that's far too lofty can be terrible for morale.
SET MARKETING GOALS
With social media, more agents than ever have begun taking on their own marketing services, or at least have a hand in them. If you're used to marketing through old channels like newspaper ads or word-of-mouth referrals, you've got to be sure you're prepared to market in the social world. There's a lot more opportunity for agents to discover online.
Setting goals in terms of expanding your audience or finding new ways of generating online is a great motivator for agents. Whether you're looking to work on Twitter, Facebook, Instagram or Youtube, make sure you're getting in the game and finding new ways to integrate them into your sales plans to help you hit your goal.
SET GOALS OF OPERATION
This tends to be an area that gets left out in the planning process. Operations are the heart and soul of your agency. They include the strategies and processes that affect your customer experience and the consistency of service you and your agency provide.
Make sure that there is a solid understanding of what's expected in terms of time management, administrative processes and duties and the daily execution of those things from the people on your team. These things slip through the cracks because they aren't thought of as big ticket concerns, when in reality they can have a massive impact on your business.
Ultimately everyone in your office wants to look ahead to a successful year. Taking these steps to plan out and detail what you're striving for and being up front about how you plan to get there is the best way to hit your mark.