Want to learn about sales? Look to the master, Jimmy Buffett (of Margaritaville fame).

I just went to his concert at Alpine Valley in Wisconsin. For those of you that have never been, it is something you need to see to believe. As I wandered through the tailgating area (think large broker convention with a tropical theme and just slightly more tequila), I marveled at the master salesmanship that created this empire. Now you are probably thinking what does a singer like Jimmy Buffett have to do with insurance sales? The connection is closer than you think.

1. He has 30,000 people spend 12 hours at his show. He only performs for 2 hours. What is your client experience like? What have you created to make people want to spend time with you?
2. He does not sell music, he sells escapism. Do the people in your agency know what they sell? A quick hint, it’s not insurance anymore. I believe you’d be surprised at the different answers you might get to that question.
3. He has had only one number one hit. Yet he sells music, has his own food line, his own alcohol brand, clothing, restaurants, books, movies, surf gear, barware and more. How much focus have you put in cross selling? Jimmy grosses an estimated 80-plus million a year. He only plays 38 concert dates a year. In future blogs I will discuss how firms are cross selling successfully.
4. He jokes about having parents sitting in the front rows and their children sitting way back in the general admission seats. No accident, he strategically grew his fan base by writing children’s books, producing a tween movie and releasing music for a younger generation. Have you strategically determined who in your market you could be selling to and how to best reach them? How many cold calls are being made? To whom? Don’t like cold calls? Ok, how many times did you ask one of your clients to make a referral for your agency this month?�
5. Buffett’s popularity grows by word of mouth. He calls it the Coconut Telegraph. Look at me — I’m blogging about him and you’re reading about it. Is your firm writing blogs, articles, etc., so people find value and spread the good word? I know you’re thinking, “Who has the time and is it really that impactful?” Well, it is so important to Jimmy that he created his own radio station at www.radiomargaritaville.com  because regular radio stations do not play his music. It is now one of the top-rated stations on satellite radio. People couldn’t listen, and yet he found a way.  Think of how many new fans he adds to his base every year because of technology.

The concert was fun and for those Zywavers that attended — they can’t wait ‘til next year. If you want thousands of fans excited for you to perform, it will take effort, strategy, desire and a sound business plan. Yes, our industry is enduring some chaotic times due to the impending changes in our health care system. But as Jimmy says, “When life hands you lemons, make lemonade — but if life hands you limes, make a margarita!” Stay connected with AgencyFuel. We’ll continue to share successful agencies concepts on the above topics, explore innovative ideas and more. In the meantime, keep the good ideas coming!