2007 Best Practices Study

Agencies with Revenues between $10,000,000 and $25,000,000

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

0.0%

3.3%

Advertising/Promotions

0.0%

6.7%

0.0%

Agency/Book of Business Acquisitions

6.7%

10.0%

16.7%

Cross-Selling/Total Account Development

0.0%

6.7%

13.3%

Producer Recruitment/Development

46.7%

23.3%

10.0%

New Business Initiatives—Prog Dev/Niche Marketing

13.3%

30.0%

20.0%

New Business Initiatives—Referrals/Centers of Influence

23.3%

16.7%

20.0%

New Business Initiatives—Strategic Alliances

3.3%

10.0%

Other*

6.7%

3.3%

6.7%

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