A successful sales team is the lifeblood of any business and insurance is no different. If you want your business to grow and thrive then you need new business to keep rolling in. Building an insurance sales team that can deliver consistently on new business can be tricky to achieve and it is no surprise that many managers struggle to come up with a winning strategy.
A successful, scalable team should be able to cope when the workload grows, can easily step-up sales activity as required by the business, have a quick and reliable recruitment and training process, and should remain cost effective as the business grows. This article covers ten essential and achievable tips to help you build a scalable, successful insurance sales team.
- Hire in a consistent way. Choose ‘the same’ successful broker each time by forgetting the gut-feel approach and sticking to a process that scores applicants consistently on their previous success, work ethic, intelligence and their ability to respond to coaching.
- Train your new recruits consistently using measurable methods. By developing a comprehensive, repeatable induction and training programme you will ensure that everyone comes online with the same goals and the right information to do the job.
- Make sure sales and marketing work together. A business can’t be really effective if departments work independently, or worse still, at odds with each other. Getting well aligned will improve communication and avoid duplication of sales and lead generation effort.
- Use the same process to work leads each time. By establishing consistent work processes, you can embed best practice into all your on-the-job activity and make the most out of your relationship management.
- Make sure your Insurance sales software and databases are up-to-date. Ensure that your customer information and sales databases are fit for purpose, easy to update and able to grow as your team grows so that they can support your business and keep you competitive.
- Incentivise your team to succeed. Set the right levels of commission on both renewals and new business to drive sales, throw in extra incentives, encourage friendly competition, and most importantly recognise great performance to keep your team motivated.
- Actively encourage remote working. Don’t let the growth of your team be confined by your available office space. With mobile technology you can give your team the ability to work remotely so that you can expand your salesforce without any extra space.
- Engage your employees to retain key talent. Make sure that you don’t lose your star performers and keep stagnant brokers. Look at ways of engaging your team to get the right levels of motivation and good team behaviours.
- Encourage mentoring between peers. This will encourage a collaborative atmosphere in addition to individual ambition.
- Keep looking ahead. Stay prepared for future changes affecting your sales team.
This article was written by Nick Hoadley, Managing Director, Insurance Search.
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