2007 Best Practices Study
Agencies with Revenues over $25,000,000
REVENUES   |   EXPENSES   |   PROFITABILITY
 
   
 

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
  1 2 3
Access to Better Carriers 0.0% 0.0% 0.0%
Advertising/Promotions 0.0% 0.0% 0.0%
Agency/Book of Business Acquisitions 20.8% 16.7% 12.5%
Cross-Selling/Total Account Development 4.2% 20.8% 25.0%
Producer Recruitment/Development 58.3% 20.8% 16.7%
New Business Initiatives—Prog Dev/Niche Marketing 16.7% 20.8% 25.0%
New Business Initiatives—Referrals/Centers of Influence 0.0% 16.7% 16.7%
New Business Initiatives—Strategic Alliances 0.0% 4.2% 0.0%
Other* 0.0% 0.0% 4.2%

*Includes website marketing/sales, expanded geographic footprint, higher retention, creating a captive, better support/CSR training & recruiting, value added services
 
     
  ©2007 by the Independent Insurance Agents & Brokers of America and Reagan Consulting. All Rights Reserved.