Are You Selecting the Right Clients for Your Agency?

Do you know what the perfect account looks like for you? Some agencies will take any new client. Others look for specific characteristics. Your ideal customer may be within a specific niche, of a certain revenue size, or require a specific level of monthly service “touches.” Whatever it is, the most successful agencies usually define what their best match is. This will not only increase profitability and efficiency, it also helps to drive overall client satisfaction.
Here are a few tips that can help you to make sure you’re taking on clients that are a best fit:

  • Look at your current roster of clients. Can you see a pattern? Are there customers who together form a best profile? Seeing your most successful accounts together can help you to identify your best fit.
  • Do you have more success in a specific industry segment or business class? Do you have unique attributes that help you to serve these clients better? By focusing on a niche, you can also stand out in the market, a byproduct that can make marketing easier too.
  • It’s also important to identify customers that aren’t a good fit. Are you seeing a pattern of existing clients that are less profitable or more difficult to satisfy? Looking at all of your least successful accounts can help you to find a common thread that you may want to minimize in the future.
  • If you have agents, get feedback from them. You can get insights into your best client type by talking directly to your agents. Collectively, you may uncover problems that you won’t see individually.
  • Look for new opportunities. Are there any niche insurance products that you could write that might align with your ideal client? By continuing to educate yourself, you might also find entirely new ways to find the best client fit.

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