Achieving organic growth is a top goal for agency owners, but getting there can be a challenge. The WorkComp Advisory Group’s 2nd annual survey of independent agents, Assessing Strategies for Pipeline Development and Management, examined the processes, resources and strategies independent agencies are using to develop and nurture new business. Zywave solutions address many common agency struggles. Are you executing sufficiently?

Snapshot of the findings
Overall, agencies revealed significant challenges in identifying and implementing the strategies and processes needed to grow revenue. Here are some highlights of the results:

• 72 percent of agencies expect producers to create and deliver their own messages, meaning a single agency may have as many messages as it has producers (or no messaging at all). Susan Toussaint, cofounder of WorkComp Advisory Group, discusses the problem: “Owners should control messaging, and producers should sell and close, not develop the sales pipeline. To succeed in a 2.0 Sales Environment, you have to demonstrate your ability to leverage tools to drive good outcomes for clients and communicate the value you deliver.”
• Few agencies utilize an enterprise-wide customer relationship management (CRM) system to track and manage prospects. “Without a CRM, agencies risk losing prospects’ information if a producers departs,” Toussaint notes. An agency management system like BrokerageBuilder™ gives owners a clear handle on pipeline activity and client information.
• 23 percent of respondents don’t use any mass email marketing tool for nurturing leads, while another 30 percent are getting by with just Microsoft^® Outlook^®. In light of those statistics, using a sophisticated system like Broker Briefcase^® gives you a powerful advantage over the competition.
• When asked an open-ended question about what differentiates their agency, few respondents were able to provide a clear, compelling answer for why a prospect should choose them over another agency. What’s your key differentiator? Survey responses with the most impact shared the following strategies in common: assessing client needs, mapping solutions to client issues and measuring impact of their performance. If you do know what puts you ahead, start communicating it!
• The top three content assets that were consistently utilized by respondents were electronic newsletters, LinkedIn Groups and Facebook pages. How valuable is the content you deliver – and how can you ensure your marketing and social media investments are profitable?

How does your agency measure up? Do you have a clearly articulated, consistent value proposition? How often do you touch prospects throughout the sales cycle? Visit the WorkComp Advisory Group website to download a detailed report of the survey findings, and contact your Zywave sales representative to ensure you are executing fully on every count.

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