Insurance Incentives: Building A Sales Culture
In this week’s series on how to build a sales culture at your agency, we’re diving into the ways that you can motivate your entire agency to adopt a healthy culture around sales. Today’s topic is one that is often misunderstood: insurance incentives.
“For anything that you’re in an agency, incentives are a really fun way to motivate behavior and make sure people understand what we’re trying to work towards.”
Insurance sales incentives can be a really fun way to get people motivated, but most agencies get them wrong. We tend to think that everybody is motivated the same way we are, but that’s actually incorrect. Did you know the number one driver of motivation is recognition? That means that whatever type of incentive program you’re doing, you need to make it big, and ensure people are celebrating. Here are some other tips for running a successful insurance sales incentive:
- Decide how it’s going to work
Do you want to have individual insurance sales incentives or team ones? This is important to distinguish, and all incentives are not created equal. Look at your agency and think of the best way you can keep your team motivated towards your goals.
- Seek to diversify
Insurance sales incentives are not one-size-fits all, and what works for one agency might not work for another. You can diversify your insurance sales incentive by coming up with an incentive that will uniquely work for your business. For example, decide if you want to use cash as an incentive, or something else. Sometimes a cash bonus might be best (for producer, for example), but other team members might love gift cards, or spinning a wheel with different prizes.
- Break it down
When coming up with an insurance sales incentive, some ideas might seem too big or overwhelming. We once worked with an agency that did a cruise as an incentive, and that might seem like something that’s too big, but when they broke down the price, it was actually pretty reasonable and gave their entire team something to be excited about. Matching the incentives to your team can make all the difference.
Insurance sales incentives are great because they can help keep your team real-time engaged, keep up the energy, and make sure your team feels proud of their work. Everyone wants to feel like they’re winning, and insurance sales incentives can help your whole agency win together.
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