Insights from the field
Insurance Brokers are currently facing a challenge to grow revenue. Insurance has become an ultra-competitive space and client needs are becoming more sophisticated. Add to that a heightened service expectation and threats from Insure-Tech applications and relationships once thought solid could easily be put at risk. Insurance clients are seeking value-added services that deliver the transparency and control they need for their businesses and a partner to keep them a step ahead of any exposure. Insurance clients will continue to seek out brokers’ independent advice. But, if brokers want to remain competitive in a time of threats to their growth, they must respond and adapt to increasing trends caused by digital disruption and more complex risks.
Download this white paper that chronicles the value of the day-to-day account professional as value creator and growth engine for insurance brokerage. For additional resources visit www.billwaltonsalestraining.com
The brokerage community has had a few weeks to reflect on last year and get ready for 2020. Well we’re in it now and the opportunity remains. Grow and be competitive or ______. Whatever verb or noun you chose to fill in the blank the alternative is not great. Not too dissimilar from other intermediated financial services segments, the agency world is still facing challenges from premium increases, competition from larger firms and insure-tech disruptors.
In speaking to one agency head, they stated that “we can’t afford to lose any of our top 20 clients”. As a small business owner, I totally get that. But I’d offer a more aggressive play.
There is no one more qualified and credible to make business building recommendations to clients than your day-to-day account professional. Relationship Managers, Account Managers and even Customer Service Representatives are in a great position to make “intelligent recommendations” to clients. What will this take?
It’s been our experience that success comes from articulating the behaviors of value creators in sales and service and drawing parallels to what folks are already doing well. Sometimes it’s all about giving account professionals a few high value questions to ask the client that takes the dialogue in a more Socratic direction.
To learn more about converting your account professionals to value (and thus revenue) creators, visit us at www.billwaltonsalestraining.com for additional resources. *To download the presentation from our latest executive briefing on growth in Insurance Brokerage for 2020, click the PDF icon below:
Since there is competition in all markets for traditional coverages, agencies need to add value to their clients to distinguish themselves in their market area. But there’s a disjoint in perception of what “client value” actually means. Agencies are focusing on systems and efficiencies to process transactions faster. It's the right thing to do. But clients want value creators managing their account – people with high degrees of business acumen that can relate to the uniqueness of their industry and recommend solutions accordingly.
BWST works with Agency Brokers to apply a value-creating client interaction process that when followed, earns account professionals the right to suggest business building ideas that make sense to the client. There is no one better equipped than the day-to-day client contact to make cross- and upselling recommendations and BWST helps these firms make the most of this valuable resource.
Click on the PDF below to see how you can transform your account and relationship management teams into revenue-producing value creators!
Princeton, November 21, 2019: Bill Walton Sales Training and Zeiberg Consulting have partnered to provide organizations with topical leadership training that enables employees to embody their organizational values and deliver on their value proposition. "We've heard from our clients that today's managers are operating in fast-paced and complex environments and they're lacking in some of the basic management skills" says Bill Walton, Bill Walton Sales Training's President and founder. "This lack of capability has HR professionals frustrated," Walton added. Zeiberg Consulting has been training managers and leaders for over 20 years. This new portable curriculum is the brainchild of founder Charlene Zeiberg and her partner Joanne Polichetti. "We created this flexible curriculum to meet leaders where they are in their development. Our clients don't have time to create programs from scratch and most open enrollment programs feature dated content" says Charlene Zeiberg, founder of Zeiberg Consulting. Collaborating with a firm like Bill Walton Sales training is perfect for us since BWST's training is shaping more than just the sales culture, it's reaching a broader audience," Zeiberg added. For more information, visit www.zeiberg.com or download the pdf below to learn more about how you can develop agile leaders in your organization.
Employee engagement is a major concern for HR leaders. Year after year, concerned managers and researchers discuss Gallup’s shocking statistic that seven out of 10 U.S. employees report feeling unengaged. Recent data from research by Yale University and published by Harvard Business Review shows that one out of five employees reported both high engagement and high burnout. They call this group the engaged-exhausted group. These engaged-exhausted workers are passionate about their work, but also have intensely mixed feelings about it — reporting high levels of interest, stress, and frustration. The risk for companies is that this is happening across the sales organization among their top performers.
Sales Managers and HR can help by examining the demands they’re placing on people to ensure that employee goals are realistic. Many are rebalancing workloads of employees who, by virtue of being particularly skilled or productive, have been saddled with too much.
The other opportunity is to provide employees with ways to build their energy stores to operate at a higher level of engagement. What this requires is an understanding of an individuals' ultradian rhythm - times where we have the most energy and clarity of thought - and align our work accordingly. In sales, prospecting and proposal writing are both important and necessary, but require different things from us in terms of our energy and can be day part dependent. Here are some ideas to grab our engagement back:
- Sleep research shows we all focus in 90-minute increments and need a rest period after
- We are creatures of habit - create energy rituals that don't drain you mentally
- Match caffeine intake with water intake. Caffeine is a diuretic and dehydration saps energy
- Drop the notion that you should work evenly and hard all day long. This has worked never
- Give yourself permission to take time off, go for a walk, or read a book vs. social surfing
To learn more about how your organization and boost their energy and engagement, download this fact sheet for our Create a Sustainable Edge program or call Bill Walton Sales Training at 917-439-3271.
Las Vegas - August 7, 2019: Bill Walton spoke to the best of the best at TriNet's global sales meeting at Caesar's Palace. The theme, creating a sustainable edge has its foundation in focusing on energy management, not time management. According to Bill Walton, founder of Bill Walton Sales Training, "The best salespeople are going to find a way to make their number. But if they're burning out they run the risk of becoming too tactical in their approach." Walton goes on to mention that to customers this can sound transactional in nature. So what do clients want? They don't care about your time management victories, but they do care about ideas and the vitality you bring to the conversation. Key points from the keynote:
Multitasking is dead - it takes 61 seconds to divert focus to a new task, and another 61 seconds to refocus back on the original task. Try doing that 50 times a day and your day is shot.
Harness the Power of 90: We operate in ultradian rhythms of 90-minute burst of productivity that must be followed by 20 minutes of rest. Reality - we beat ourselves up because we can't go all day long. Plan your "bursts" and be good to yourself.
Develop positive energy rituals: this doesn't mean run out and grab a yoga mat. Get out on a bike ride in the park, eat the the table with your family three nights a week, or go see a movie at lunch. Keep your energy up. It's your greatest asset.
For more information on how you and your team can create a sustainable edge click here:
Finding the right referral partners makes selling so much easier. They advocate for your business. They introduce you to new connections, and they help you move the sales needle. But cultivating the right referral partners in the private client space is different. Referral partners and centers of influence are bombarded with requests to “connect” and the best aren’t looking to help you. They want to add value to their network. This session will help you think more broadly and strategically about your COI network.
Topic areas will include:
Bill Walton presents to small business sales organization at Citrix:
A great day with the Citrix SMB team. Connected sellers to the needs, passions, obsessions of small business owners. Themes: Value creation, meaning more, and issue fluency in the business owners industry. SMB owners can work any 18 hours a day and wear many hats. They need authentic people to support them and they need results now. Thank you to Michelle Neal, Director of Sales Effectiveness. You are a Value Creator!
Sales Leadership in Financial Services: A Shift to “Transformational Energy Leadership!” A VoiceAmerica Radio Show with Bill Walton and Dr. Matt Woolsey, Renown Executive Coach
With the Wealth Management, Banking and Insurance industries changing practically weekly, firm leaders should be taking a hard look at their talent - specifically their sales leaders. They’re the true pivot point in an organization and when trained well, MAKE MONEY FOR THE FIRM. FACT - Investing in sales leadership can yield top line revenue gains of up to 29% according to Wilson Learning. The role of the sales leader has morphed over the years, from “top closer” to “product expert” to "administrator." To win in this era of digitial client acquisition, these pros need to be freed up to coach and develop producers.
Listen to this engaging conversation with Bill Walton and Dr. Matt Woolsey, the nation’s leading authority on transformational leadership. You’ll be given a roadmap on how to make sales leadership a strategic advantage in your organization – one that you can drop to the bottom line. Topics include:
Click on the link to enjoy the show:
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I spent the day at IN|VEST 2018 yesterday in NYC as an evangelist, a trainer and thought leader. The conference was well produced and the speaker roster couldn't have been a better fit. The goal - provide concrete ways to leverage digital wealth technology internally and externally to drive seamless financial experiences that feel like consumer experiences. Here's a list of the key observations. Please excuse the brevity:
For more insights, call or text 917-439-3271 and I'd be happy to share more. - Bill
Bill Walton Sales Training has over 60 years of collective Fortune 500 company experience in Sales, Sales Training and Field Sales Management. Our specialty is preparing individuals and organizations to present their value propositions in a way that results in higher close ratios. Our team are un-blurring the lines of differentiation between their client's fiercest competitors.