our agentsebooksGET LEADS844.688.1586


The Orange

Resources for the modern insurance agent

Mid-Year Assessments for Insurance Agents: Are You on Track to Meet Your Goals?

by Precise Leads

June 26, 2018

The summer is a natural yearly midpoint when insurance agents should take stock of their progress toward goals they set for their agencies back in January.

As we reach the middle of the year, now is the perfect time for insurance agents to take a step back and review the progress they’ve made toward goals and targets they set for themselves six months ago. Given the summer lull, agents can take advantage of extra bandwidth to assess whether they and their teams are on track to hit their annual objectives — and make adjustments to make those goals a reality if necessary.

Before you assess how far you’ve come in reaching your goals — and how far you may need to go — ask yourself these eight questions. By identifying where your agency stands midyear, you’ll be in a better position to get yourself where you want to be over the coming months.

1. How Far Am I From Reaching My Goals?

Consider the benchmarks you set in January. For example, did you target a certain amount for new commissions? If so, how far are you from hitting that number? If you think you can realistically meet that goal, that’s great. If not, maybe it’s time to update your routine. Perhaps you should make calls at different times of the day, or schedule more appointments with prospects and clients in order to bring in more commissions.

2. Am I Targeting the Right Prospects?

If you feel like you’re falling short of your midyear expectations, you may not be targeting the right clients for your agency. Do some research into who your target audience actually is — i.e., what your ideal consumer looks like — and revamp your strategy accordingly. For example, what challenges do they face? And how can your products meet those needs? Once you have this cleared up, reassess your marketing tactics to reach your key demographic.

3. Is Technology Helping or Hindering My Agency?

With the pace of technological advancement in the insurance space, it can be difficult to keep up with every major product rollout. However, it’s important to know when to invest in new capabilities as well. Ideally, your IT spend should be focused on products that add value to your team, and support them in their essential tasks. That means that you don’t want to spend money just for the sake of spending money, nor do you want to hold back on upgrading badly outdated tech.

Plus, the quieter summer months are the perfect time to train yourself and your team on whatever new capabilities you bring into the office.

4. Is My Digital Marketing Strategy Working?

Once you analyze the raw data, you may realize that the digital marketing tactics that worked so well last year may not be producing the same results in 2018. If you feel like your online outreach isn’t yielding the amount of leads you expected or if your conversion rate is slipping, it may be time to revamp your marketing — and your branding — with a fresh message or new angle. By showing prospects that you’re willing to invest in your digital presence and their online experience, you’ll be signaling that you’re a modern agent with the tools to meet today’s insurance needs.

5. Am I Providing Constructive Feedback to Team Members?

The success of your agency depends on your team. Rather than wait for once-a-year performance reviews, check in with staff now. You should determine if they’re meeting their sale goals, if they feel supported, and what they need to thrive.

Agents whose performance is flagging may just need some guidance to get things back on track, so it’s best to address those needs now before they go unattended for the remainder of the year. The extra coaching you give them — whether it’s a refresher on cross-selling techniques or lessons in making the most of your tech suite — could set them up for success.

6. Have I Reached Out to Clients for Feedback?

If you want to get additional perspective on your agency’s performance thus far, you’ll need to do more than crunch numbers. Indeed, you should also be reaching out to clients for feedback. Whether you do it via email, on social media, or in person, ask clients if they feel your agency is providing the best experience possible.

They may suggest that you invest more in your social media presence, that you add new features to your website, or that you switch up your hours a little bit to accommodate their schedule. A satisfied client is more likely to recommend your agency to others, so making them feel like their voice is being heard is essential.

7. Am I Up-to-Date On Industry Trends and New Products?

Insurers frequently introduce new product lines that can help your clients. Just recently, Prudential launched its first fixed indexed annuity — a retirement income solution that may appeal to your agency’s most risk-averse customers. By keeping up on new announcements like this, or just doing what you can to stay abreast of constant changes in the healthcare market, you can show prospects and clients that they’re in safe hands.

8. Are My Goals Realistic?

Finally, you should check in to make sure that the goals you’ve set for yourself are realistic. After analyzing your agency’s midyear performance and speaking with your team members, you may find that your targets need to be revised in one direction or the other. Perhaps a new prospecting strategy is yielding more results than you expected, or maybe industry-wide trends have depressed sales a bit over the last few months. Whatever the case, remember to be flexible.

While setting goals at the beginning of the year is a great way to generate sales momentum, it’s important to take stock whenever possible to make sure you’re on track to meet them. This summer, take the time to evaluate your performance, as well as that of your team. Whether you’re right on schedule or need to do a bit of adjusting, you’ll be glad you took the time to do so once December rolls around.

Never Miss a Story