Without doubt, it is an unprecedented time in our country’s history. We are facing a hurdle which is not only scary, but hard to define in terms of time and impact on the economy. No matter what business discipline you are in, there will be significant impact on your business. So how does this translate for us, the independent agent?
From a business perspective, our bottom lines will be affected because of the financial set-backs to our insureds, both personal and business. Our carriers are working very hard to work with our clients and their premium payments and this will certainly help. But some of our clients will have to close their businesses and perhaps sell their homes and/or cars. How many will be affected is impossible to predict. We do not have control over Covid-19, but we do have absolute control on the actions we take as agents during this downturn.
I was told long ago that success is not based on what you do during the good times, but what you do in the bad times that makes for success. And that is where we all find ourselves at this point in time. Are we going to sit in our houses and bemoan the circumstance or is there a way for us to be proactive in this time of turmoil and confusion? Here are a few things we have been doing that will serve us well in the future.
Communicate
Fear leads to paralysis if people are left uninformed and out of touch. It is important for all of us get on the phones; on e-mail; and on text messages to talk with your clients and let them know they are not alone and you are there for them with respects to their insurance. Just talking it out is huge for most people.
Ramp up Social Media Activity
Many of us complain that we do not have time to work on social media because our daily routine is too time consuming. Now is the perfect time to really get involved on your social media activity. Because of the virus, there are more people on social media than ever! Don’t miss this opportunity to make your name known in social media circles!
Clean up your Backlog
Most of us are complaining that we need to clean up our backlogs in various areas of our operations. Here is the perfect time to do that! And you know what? When the wheels start to turn once again for our businesses, you won’t have a backlog!
Sales
So many of us are feeling that New Business has to stop because everything is shut down. There are so many ways to create new business during this time. When you make your courtesy calls to your clients, there is great opportunity to cross-sell that missing piece within their account. In particular, and for obvious reasons, people will be most interested in talking about life insurance. We call this creating new business through the “backdoor”. But you know what? New business is new business no matter which door it comes in!
Online Training
This is a great time for your staff to get caught up on online training. AHA through the SIAA portal offers a total training program that is totally online. If you are not familiar with this, give the AHA staff a call. In particular, the BIA program is great for new commercial producers. This is the perfect time for this!
More than anything remember that you are NOT ALONE! One of the wonderful aspects of AHA/SIAA membership is that we are in this game together, and together, we are a very powerful organization. We have resources all around us to help support and guide us through this unusual occurrence. Next week we will be releasing the 2020 Profit Sharing and Override numbers which are again this year, just outstanding! This money will help all of us get through this tough time, but we just can’t sit idle each day until the dust clears. Keep your business alive and proactive by following some of the suggestions above. You will be so glad you did when the “gun goes off” signaling a return to business as usual!
Life is 10% of what happens to you and 90% how you react to it!