2007 Best Practices Study

Agencies with Revenues between $1,250,000 and $2,500,000

Rev. % By Source | Services/Other Products Provided/Aquisition Info | Rev. Growth By Source: P&C L&H Total | Future Rev. Growth Strategies

Revenue Growth

Future Revenue Growth Strategies

% of Total Responses

Study participants were asked to indicate their three most important strategies for enhancing or achieving future revenue growth.

With:
1 – Critically Important
2 – Very Important
3 – Important

Access to Better Carriers

6.7%

0.0%

6.7%

Advertising/Promotions

3.3%

6.7%

10.0%

Agency/Book of Business Acquisitions

3.3%

16.7%

6.7%

Cross-Selling/Total Account Development

6.7%

30.0%

13.3%

Producer Recruitment/Development

23.3%

6.7%

30.0%

New Business Initiatives—Prog Dev/Niche Marketing

13.3%

10.0%

20.0%

New Business Initiatives—Referrals/Centers of Influence

36.7%

23.3%

6.7%

New Business Initiatives—Strategic Alliances

6.7%

Other*

0.0%

*Includes website marketing/sales, expanded geographic footprint, higher retention, creating a captive, better support/CSR training & recruiting, value added services