2007 Best Practices Study

Agencies with Revenues under $1,250,000

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%

8.6%

5.7%

Advertising/Promotions

5.7%

2.9%

14.3%

Agency/Book of Business Acquisitions

0.0%

5.7%

20.0%

Cross-Selling/Total Account Development

28.6%

14.3%

Producer Recruitment/Development

14.3%

11.4%

New Business Initiatives—Prog Dev/Niche Marketing

11.4%

5.7%

New Business Initiatives—Referrals/Centers of Influence

34.3%

22.9%

17.1%

New Business Initiatives—Strategic Alliances

5.7%

17.1%

11.4%

Other*

0.0%

5.7%

0.0%

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