We’ve written before about many of the ways that your agency can use data to identify, develop, and achieve lofty goals. But did you know that data can also be instrumental in addressing some of your agency’s biggest challenges? Here are three familiar examples of issues that even successful agencies may face from time to time – with data-driven solutions that are easy to implement.
The Challenge: Low Organic Growth
As reported in a recent article in Insurance Journal, with interest rates rising and this growth predicted to continue into next year, organic growth is an attractive option for agencies. “Organic growth is a proven method to create agency value that is worth more over the long run,” but how can you reap the benefits? It’s as simple as running a report in LeO. Just say “show me my top 20 accounts” and compare your top 20 accounts to over 40 million business prospects. LeO will produce a prospect list within seconds, with key contact and recommended coverage types.
The Challenge: Low Referral Rates
Referrals are one of the most effective ways to grow your business, because customers who come to you on the recommendation of others have heard good things about you and are predisposed to trust you with their business. But most agencies actually get referrals from fewer than 10% of their clients. Once again, this is a place where your own data can be helpful. Create a prospect list based on your best customer, then work with your customer for referrals on the data that LeO produces. LeO simplifies the referral process with a “one click” approach which makes it possible for producers to obtain this data in a single simple step.
The Challenge: Dripping Pipelines
Building a sales funnel takes time and commitment, and a leaky sales funnel can be a real challenge. Creating awareness for your agency and your products and delivering marketing messages that speak to potential clients in different stages of the buying process is just the beginning – converting those leads is the hard part. Use LeO’s data retrieval capabilities to automate the process of creating your key prospect list, allowing you more time to focus on developing and cultivating your own sales funnel.
Whatever your agency’s specific challenges, Leo can help.
As the insurance industry’s first producer tool using Artificial Intelligence (AI), LeO allows producers to match their current book to over 40 million businesses, and create a target list with information that includes account name, contact, revenue size, employee size, and needed coverage types. LeO guides producers to form a business plan based on individual and team selling trends, enabling them to increase revenue per relationship in their current book of business.
To learn more about LeO’s powerful capabilities, sign up for your own demo at https://www.meetleo.com.