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Winning New Clients – Sources of Opportunity & Personal Qualities

Quality matters

As a regional independent broker, there are dozens of different sources of opportunity. Clearly, some are easier to generate, some are far better in terms of quality and some are more predictable in terms of results. If you wish to know which are better than others then please feel free to give me a call. Only quality opportunities will produce quality results. If you put rubbish in, you’ll get rubbish results out.

The best brokers focus on just a small number of these sources that work the best for them (perhaps two or three). If some aren’t working, they quickly move on to select other sources instead.

Number of opportunities required 

In my 4th blog, I talked in detail about targets and the numbers of opportunities required to achieve annual targets. I also talked about the importance of identifying the source of the opportunities you are using and how this directly influences the number of opportunities required.

In my 3rd blog, I talked about “what gets measured gets done”. The same principle applies to generating opportunities. Once you’ve agreed exactly what sources you are going to use, it is critical to measure how many of these you are generating on a weekly / monthly basis. Ask yourself “are we generating enough to hit the new client target”?

This should be a standing agenda item in your weekly / monthly sales meeting.

What does your ideal new client look like?

It’s also important to clarify what your ideal new client looks like. What size are they? What industries are they in? What geography do they operate in? Where are they insured now? The answers to these questions will identify which type of source is likely to be most successful.

Sources of opportunity

A small selection of the sources available are:

  • Referrals
  • Trade associations
  • Recommendations
  • Seminars
  • Neighbours
  • Affiliates
  • Appointed Representatives
  • Networking
  • Introducers
  • Local business
  • Win back
  • Drop ins
  • Data acquisition
  • Exhibitions
  • Marketing campaigns
  • Pay per click
  • A website
  • Newsletters / leaflets
  • Search engine optimisation
  • Telesales

If you want to know more about any of these and the best practice to unlock the potential of each, then please feel free to give me a call.

Personal qualities

There are some personal qualities that you will need in order to be successful at winning new clients.

These include:

  • Tenacity
  • Cunning
  • Tactical
  • Resilient
  • Approachable
  • A brilliant communicator

If you don’t posses a number of these qualities then you are unlikely to succeed and you’ll need to find other people that do. Recruitment is a challenge for most broking businesses but when you know what the best practice for successful recruitment looks like then this area becomes simple.

This series of blogs is focussed on winning new clients, if you want to know the secrets to success on recruitment, then please feel free to give me a call on 07920 299727.

Missed any of the other 12 Days of BIBA blog posts?

Day 1: Why winning new clients is critical to the survival of any broking business
Day 2: The importance of leadership
Day 3: What gets measured gets done & sources of opportunity
Day 4: Standing out from the crowd
Day 5: Tactics to win new clients & insurer relationships
Day 7: Barriers & Objections
Day 8: You appeals
Day 9: Teamwork & Favours 
Day 10: Terms of Reference (TOR)
Day 11: Review & Learn

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