Insurance Sales Goals
All this week we’re focusing on how your agency can adopt a sales culture in order to become Ridiculously Amazing. When people hear the term “sales culture,” they sometimes get turned off, because they think of quotas and aggressive behavior. But we’re here to tell you that sales culture is not a bad thing, and it can even work hand-in-hand with service culture. Sales culture simply means that we celebrate new clients when they come in, we celebrate when people want to work with us, and we balance service and sales at the same time.
“A sales culture is not a bad thing, I don’t want everybody getting in their head “quota” and “aggressive” and all these things, that’s not what a sales culture is. A sales culture is we celebrate new clients coming in, we get excited when new people want to work with us.”
In order to transform your agency into one that has a sales culture, you need to follow a few steps. The first step is to get sharp on a sales target for the month by setting insurance sales goals. Here’s how you can do that.
1. Divide up the targets
When you’re setting insurance sales goals, you need to determine how to split up these targets. If your team services and sells then this can be a group goal, but if you have separate producers it should be an individual goal that’s tied into a team goal. Your service teams are doing other jobs so they need to be able to balance new business and service at the same time and work together to solve problems, while producers love working individually.
2. Run a year’s worth of numbers
If you’ve never set an insurance sale sgoal before, you should start by running a year’s worth of new business broken down by month. You can see what you sold last June, and determine if it’s possible to increase that number by 10%.
3. Get into the habit of weekly reporting
When you’re working with insurance sales goals, you don’t want people to just assume where they stand. Instead, you want to get into the habit of weekly reporting, where every week you tell people where they stand. Guesswork can be dangerous, and weekly reporting will help your team feel confident and in play. This is also when you can celebrate achievements, or go back to the drawing board if you need to come up with a better strategy.
4. Remember a goal is not a quota
Sometimes people get worried when they hear about insurance sales goals, because they associate them with quotas. What’s the difference? Quotas usually mean you can be terminated if you don’t meet them, while a goal is something we want to put our collective effort into to get there.
When working to set insurance sales goals, remember that it can be a slow process. It might take several months for your team to adapt, and the key is to have patience, conversations, and understanding.
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