How Insurance Producers can use Social Networking to Increase Sales – Part I

 Hi everyone!  Today I thought I’d share some of my thoughts about social networking and sales in today’s marketplace.  Specifically this is geared towards people in the insurance industry but it really applies to anyone who is selling something as the concepts are pretty universal. 

When I got started in sales nearly ten years ago it was a radically different environment.  We used the internet to look up resumes on CareerBuilder and Monster, we sent email and we were beginning to use it to replace the phone book.  At that time I remember my boss was still skeptical of email saying that he didn’t need it to succeed and he didn’t understand why we did too.  Fast forward to the present and most of us can’t imagine working without it.  That said I believe that many people are using it to replace old tools – like the phone book – and aren’t using it is a tool to improve their chances of success.  In my opinion one of the biggest differences today is the advent of social networking.  Facebook, Twitter and LinkedIn didn’t even exist when I got started.  However, they are now the most powerful tools available to increase your odds of success.  In this two part series I’ll be sharing three ways you can use social networking to increase your success.  The first part is below:

1.  Brand Yourself

Have you ever googled yourself?  If you haven’t you probably should.  The first thing that pops up when I google Scott Thompson is this guy:

Yes, Carrot Top’s real name is Scott Thompson.  When I google Scott Thompson and Insurance I get much better results.  This is because I’ve worked pretty hard to create an on-line identity.  Some of the first things you will find will be my bio, my LinkedIn page, my Facebook page, my blog (as long as you keep reading it) and lots of job postings.  What this does is help make people more comfortable talking to me because they know who I am. 

When I begin working with someone I look them up on-line.  This even extends to my personal life.  My daughter just started pre-school and when she made a best friend I immediately looked up her family.  I found out their names, where they were from, where they went to school and even saw pictures – most of this came from Facebook.  Now as I got to know the family I had to pretend that I didn’t know any of this and re-learn it from organic conversations so I didn’t look like a stalker.  But, before you call me a stalker please remember – I am average.  This means that most people do this as well and most likely your potential clients are too. 

With this in mind there are a couple of things that you can do to make sure that they see what you want them to.  The first thing that you should do is to create a LinkedIn page or update yours so that it has the following:

• A picture – people want to see a professional picture of you – it makes them feel more comfortable
• Your job history with an emphasis on your current position – people are naïve and assume that whatever is on LinkedIn is true – this doesn’t mean you should lie but it does mean that you can create additional credibility with more information
• Your education – even if you didn’t complete college you should have something on here.  First, this helps people find shared connections.  You wouldn’t believe how many people’s brother went to your college.  Second it creates more credibility.  If you don’t have a degree, add your continuing education.
• Make your profile searchable and visible to everyone!

The second thing you should do is to create a Facebook page.  There are many people that believe that Facebook is for personal use only.  That is a great idea.  The truth is that people who use it will look you up and you should use this to your advantage by controlling what they see.  If you already have a profile then just augment it.  Here is what you should have:

• Make your profile searchable and visible – you can choose what to share – just have something on there that people can see
• Include basic information about you – avoid potentially controversial issues.  Not everyone agrees that you should save the baby walruses by banning harpoons!
• Make your pictures searchable – just make sure that you are smart about what you post.  Have pictures up of you doing your hobbies.  Acceptable hobbies are golf, gardening, sports and the like.  Be selective in the pictures you post from that weekend in Vegas.. – the more people see you in these pictures the more comfort that they will have with you because you become a real person to them.

You can read the second part of this by clicking on the link below:


How Insurance Producers can use Social Networking to Increase Sales – Part II

As always don’t forget to leave comments or suggestions.  If you have any questions you can email me at sthompson@insurance-csg.com.  

Commercial Lines Account Manager - Hattiesburg, MS

This is a great opportunity for a strong commercial lines CSR that is looking for some growth.  Our client is one of the most well respected agencies in deep south and are aggressively looking for a strong candidate.

Commercial Lines Account Manager - Hattiesburg, MS

Our client is a growing independent insurance agency.  Comprised of a small but close knit team, a "roll up your sleeves" mentality in client service is critical to the agency's continued success.  As Commercial Account Manager you're responsible for assuming leadership on new and existing commercial accounts.  You'll also partner closely with new producers who need assistance with everything from policy administration to new business marketing.

Commercial Account Manager Responsibilities:
Provide timely and accurate feedback to client inquiries on existing policies with regards to policy amendments, billing, claims and upcoming renewals.
Participate in the renewal cycle from start to finish; gather update account information, compile submissions and secure renewals quotes.
Assist other team members with overflow of processing, certificates or answering incoming calls.

Commercial Account Manager Qualifications:
A minimum of two (2) years of property and casualty insurance experience.
Prior underwriting assistant or agency CSR experience is preferred.
Ability to handle renewal preparations, answering client questions and complete policy administration tasks.
Hold an active MS P&C license or obtain one shortly upon hire.

Please contact Scott Thompson for immediate confidential consideration and additional details.  Email:  sthompson@insurance-csg.com  Phone:  515-987-0242 x17  Fax 515-987-0004  See our website at, www.csgrecruiting.com/ins_opportunities.htm for a complete listing of nationwide opportunities.

Six Biggest Challenges Faced by Insurance Producers Part II

This is the second part of a topic that I started earlier this week.  If you want to catch up you can read the first part here:

Six Biggest Challenges Face by Insurance Producers Part I

Thanks again for reading the first part.  Feel free to leave comments or reach out to me at sthompson@insurance-csg.com.  So without much further ado – here is the second part!

4.  Agency Focus is Entirely on New Business

There are some organizations out there that so value new business that they severely neglect taking care of their existing customers or can make the expectations on salesperson overwhelming.  Some companies have very aggressive goals that can only be met with significant year over year new business goals.  While there is nothing wrong with lofty goals it becomes harder and harder to keep the new business up while managing the existing clients.  This can result in missed sales goals or lower retention.

Solution:  This is a pretty tricky situation as you will more than likely have to change the organizational culture or create, convince your boss to lower your sales goals, or just sell more.  In my opinion changing the organizational culture is just about impossible so that leaves us with the other two.  My best suggestion is to set up a time to meet with you boss to talk about what you need to increase you sales while increasing your retention.  When you do this make sure you bring in your own solutions.  I’m aware of one agency that feels that the best way to grow a book is to limit your number of clients.  How this works is that you decide on a fixed number of clients that you want and then when you are maxed out drop the smallest account on your book when you write a new piece of business.  The account doesn’t need to  leave the agency it just isn’t in your book anymore.  In theory this helps you focus on the most profitable accounts and forces you to continually go after larger business.

5.  Changes in Compensation Structure

Sometimes companies change how they pay you.  It can happen for a variety of reason including new ownership, change in management or a reaction to the market.  Regardless, this always seems to upset people in the industry.  Right or wrong, it is a situation that can impact your sales, income and attitude.

Solution:  In this situation there is rarely anything that you can do to change what happened.  My suggestion is to look at the changes and consider the following:

• Does the change really affect you? – People are emotionally predictable and change is something that historically people are averse to.  Sometimes we confuse bad and different.
• If it does affect you are their positive consequences to go with the negative?  I’ve found that in many cases a consequence is paired with an opportunity.  Can you find one?
• What will you need to do to restore any lost income? Sometimes knowing what you have to do is half the battle.

6.  Changes in the Culture

In order to be successful sales organizations need to remain pretty stable.  Insurance organizations and sales people tend to follow the “if it ain’t broke don’t fix it” mantra.  That said changes do happen and sometimes it can radically affect the culture of an organization.  Some of these things can be changes in ownership, changes in management or just changes in philosophy. 

Solution:  This one is a lot like changes in compensation.  There is little you can do to stop it.  Instead you probably need to embrace that the change is coming and see how you can impact it.  Change your focus away from the good that is going away to the bad that is going away.  What can you improve as an amendment to the changes?  The other suggestion is to talk to the management about the changes.  Don’t go in with complaints.  Focus the conversation on the reasons behind the change.  While it might not change how you feel immediately, understanding someone’s position can make you more open minded.

There you go!  My first article is in the books.  Please let me know what you think and feel free to add to the conversation in the comments section.  While my job is to help people make changes in their career I truly believe that someone’s first option is to try and repair their current situation.  If you try and it doesn’t work you will only be more confident about your next move.  So if these are problems you are experiencing see if any of my suggestions help you out.  If they don’t, I do know a good recruiter you can call.

Six Interview Mistakes from Monster

If you have a moment you should check out this quick article:

Six Interview Mistakes from Monster

This is a pretty interesting read. Two things really stuck out though.

The article is absolutely spot on about the questions you should ask.  Don't resort to cliche questions that get you no where.  Focus instead on questions that make things a conversation . Like the article said - people like talking about themselves and it makes them feel good.  This is will create a positive impression. I'm sure that this is something that some people will agree with but  truly believe you should avoid any bold questions that make the interviewer feel uncomfortable.  Questions like this are:

• When can I start?
• Why wouldn't you hire me?
• What is your biggest concern about my candidacy?

I just think that you run the risk of making the interviewer feel awkward which is not the feeling that you want  them to have when thinking about you.

There is one part of the article that is just plain wrong.  The article suggests that it is OK to follow up regularly about an interview.   I agree with this to a point.  There is a fine line between stalking and following up and in today's economy where it is even more competitive you can run the risk of looking needy.  I recommend that you follow up immediately afterwards with an email and then a day later with a hand written thank you note.  The trick is to ask a question in the email in hopes of creating a dialogue.  

However, if you call someone back or send and email and get no response DO NOT follow up for several days.  It looks bad and you run the risk of annoying the hiring manager.

Commercial Insurance Producer - Cincinnati

Just got another good one to share.  This client is a good regional agency with offices in several midwest states.  They are looking for someone that can hit the ground running quickly and offer a strong ownership plan.  They write a lot of blue collar business like manufacturing and contractors and other miscellanious middle market business.  Let me know if you are interested or have any suggestions.

Commercial Insurance Producer

Our client is a full service insurance agency intent on developing its next generation of producers.  The Cincinnati office is a smaller team with two senior commercial producers capable of providing training to a producer desiring mentorship.  The agency is willing to invest in the future of its sales team provided in return you can increase market share, write profitable business and desire a regional agency where you can work towards ownership. 

Commercial Insurance Producer Responsibilities:

Target small to mid-sized commercial business in the local Cincinnati market; eventually expand into a larger regional presences throughout KY, IN, OH, PA and WV.

Develop a prospect pipeline through relationships that are your own; all types of business development methods can be utilized (cold calling, direct mailing, association networking and cross selling).

Participate in all phases of the sales process including ongoing client consultation and renewal marketing.

Commercial Insurance Producer Qualifications:

At least 1 or 2 years of commercial insurance sales experience targeting property and casualty accounts that generate $5k or more in agency commission.

Active OH P&C license.

Ability to open doors to new business relationships, be a strong closer and actively stay involved in high level consultation with your clients.

Compensation is commensurate with experience and provides a salary with first year new business commissions.  

Please contact Scott Thompson for immediate confidential consideration and additional details.  Email:  sthompson@insurance-csg.com  Phone:  515-987-0242 x17 Fax 515-987-0004  See our website at, www.csgrecruiting.com/ins_opportunities.htm for a complete listing of nationwide opportunities.

Surety Practice Leader - San Antonio, TX

Hi Everyone!  This is a great opportunity.  My client has a significant contract surety practice and is in need of someone to come in and manage it.  This is one of the most well respected agencies in the region and their ideal candidate will be someone that can step into a surety production role and eventually become a partner in the organization.  The only real qualification is that this person have a strong contract surety background and they are open not only to people with an agency background but would also consider a strong service person or a strong underwriter.


Surety Practice Leader
Our client is an independent insurance agency with significant revenues tied to the construction industry.  Offering qualified consultation on surety risk management is an important part of driving agency revenue and rounding out a full suite of agency's service offerings.  As Surety Practice Leader you'll be in a senior position designed to lead all sales initiatives with clients and participate fully in the strategic direction of marketing and customer service.

Surety Practice Leader Responsibilities:
Develop & maintain professional relationships with current clients, prospective clients and surety company personnel.
Assist current surety clients by analyzing financial statements, reviewing bond forms and negotiating with surety companies to obtain the most effective surety program for our clients.
Take the lead on preparation of quality submissions and proposals; Make sales presentations to prospective and existing clients.
Review all company marketing activities; participate in trade events and insurance company negotiations.

Surety Practice Leader Qualifications:
Minimum of five (5) years of surety underwriting, sales or Account Executive experience; must offer detailed background with contract surety.
Detailed experience in financial analysis; expertise in the nuances of construction accounting and finance a plus.
Ability to develop relationships including active prospecting of new business for the agency.
Knowledge of surety markets, rating and underwriting procedures.

Please contact Scott Thompson for immediate confidential consideration and additional details.  Email:  sthompson@insurance-csg.com  Phone:  515-987-0242 x17 Fax 515-987-0004  See our website at, www.csgrecruiting.com/ins_opportunities.htm for a complete listing of nationwide opportunities.

Check out some of my recent articles on the blog here:

The Six Biggest Challenges Faced by Insurance Producers

How Insurance Producers Can Use Social Networking to Increase Sales

Texas A&M Leaving the Big 12 and What Lessons You Can Learn From it for Your Career

Six Biggest Challenges Faced by Insurance Producers - Part 1

My work as an insurance recruiter gives me a unique window into the lives of insurance producers and the problems that they face.  Let’s face it sales is hard enough as it is.  Even if you have a 50% hit rate that means that 50% of the people you talk to are saying no.  With this in mind I thought I’d share some of the biggest challenges I’m seeing producers face and my thoughts about how to combat them.  Today I’m posting the first half and will hopefully have the second half up by Friday!

1.  The Agency isn’t geared towards growth

Something that has become painfully apparent is that there are more producers with established books in the insurance industry than ones that are building a book.  While producers with established books make for great mentors they typically are not experiencing the same pain as someone that is aggressively trying to build new business.  If you are in this situation you know what I mean, while they are out golfing each Friday, you are busting it trying to get that last submission in.  It goes farther than this though as when the senior management is happy living off of their big book then they tend to focus the agency’s resources on retention and not growth and it permeates through the culture. 

Solution:  While you probably can’t change your boss and get him out cold calling again you can ask him for some changes.  Take a leadership stand – see if you can help in the recruitment of new producers.  You might not change the senior management but you could get some more people with similar goals to work next to.

2.  The Agency is unwilling or unable to provide adequate service

This is probably the biggest pet peeve of many of my clients.  If a producer is actively involved in servicing a book then they can’t be out calling on new business.  If the producer isn’t calling on new business then they aren’t generating new revenue for the producer or the agency – no one wins!  The problem is that hiring a new or better service person costs money that comes directly out of the bottom line creating a paradox.  You need more revenue to hire a service person and you need a new service person to generate more revenue. 

Solution:  Sadly if you are in an organization that doesn’t value service it will be up to you to initiate this and make some form of compromise.  Depending on your split you will need to offer that some of your new service person’s salary come out of your revenue.  I’ve seen many people be able to negotiate a sharing of the cost that runs as good as 50/50 to as bad as the producer absorbing the entire weight of the employee hire.  That said it is a needed step back to take a step forward. 

3.  The Producer has outgrown the agency

Many of the producers I talk to are in this situation.  They got their start at an agency calling on smaller accounts and have had great success.  However, somewhere along the line they began to stall.  Often times this is because the producer begins to gravitate towards larger accounts and the agency doesn’t have the service, markets or appetite to support this.  What do you do?

Solution:  The obvious answer is to call a recruiter!  I know the number of a good one if you are looking.   Just kidding!   This is one of the hardest obstacles to overcome but it can be done.  However, it isn’t an overnight fix.  What you need to do here is to create a business plan and convince the powers that be that a change in appetite is in the best interests of the agency.  The key points here are to give the reasons for changing the appetite, what it will cost and what you project the return on the investment to be.  Be prepared to defend the cost of acquiring new markets, new services and probably a new CSR. 

You can read the second part right here:

Six Biggest Challenges Faced by Insurance Producers - Part II