How did a member agency grow the size of their average account by 56%?
By focusing on just one key performance indicator.
The greatest indicator, for an agency, a department or an individual Producer is the average Revenue per Relationship.
They understood that they had to have:
- A targeted account size
- Minimum account standard
- And round out their existing clients
Using these key strategies, they were able to grow their average account size from $6,000 to over $9,000 in 2020, in just their benefits department alone.
Their commercial Lines department was able to also grow their average account size by 20% in the same time period.
In one of the toughest years on record, when a lot of businesses were losing money, they were having one of their greatest growth years ever.
As an agency leader or insurance professional, how well are you focusing on this vital area of your business?