Self Managed Producer: Part Two
Strategies & behaviors
If producers are not ahead of goal and aren’t getting the desired results, then we need to closely examine the strategies and behaviors that are creating the numbers.
Reverse Performance Management.
Even though fewer than 15% of agencies practice true effective sales management, someone still has to hold producers accountable. Traditionally, they report to whoever is wearing the sales manager’s hat that day. But there is a better way.
The method that we find works best is Reverse Performance Management (RPM), which involves reporting up, not down. It’s not management coming to producers to have a discussion with them about their numbers. It’s about the producer reporting to the manager. This requires relentless preparation from the producers.
As I was writing this, I flashed back to the days when I had my Own agency in Michigan. I’ll never forget a comment one of the producers made right after we had instituted sales reports....
Self Managed Producer: Part One
According to recent studies, fewer than 15% of independent insurance agencies practice effective true sales management. (Perhaps the key word is “effective,” as in “getting results.”) So if sales management is essentially nonexistent in independent agencies, how is it that we have producers with $1 million of commission income on their books of business? (We used to kiddingly say that until you get to $1 million of commission, you’re still a Producer-In-Training!)
For that matter, how can we have producers generating upwards of $150,000, $200,000, $250,000 or more of new revenue per year without sales management? (At this point, please don’t panic and stop reading, thinking that this doesn’t apply to you. The $1 million book and the annual new business amounts may, in your town, be considerably more or less in another market. It’s all relative to where you are and where you want to go.)
In the absence of dedicated sales management,...
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