Crete a sales culture to drive new sales!

1. FOR THE RECORD
A MarshBerry Publication
Volume VI, Issue 6 June, 2012
Reinvigorating Your Production Staff
According to a recent MarshBerry study, high-growth agencies are writing new business at a rate of nearly 20% versus prior year
commissions & fees. By benchmarking producer behaviors and results, we were able to determine the driving forces behind this high
growth. While non-performing producers continue to be the biggest hindrance to agencies that are trying to grow organically, our
analysis enabled us to pinpoint what high-growth agencies are doing differently than average agencies to drive revenue. High-growth
agencies have implemented sales management best practices that enable a higher percentage of producers to reach their minimum
new business goal. Additionally, these agencies cut the cord quickly when producers underperform, permitting them to focus their time
and resources on their most capable producers.
$100,000
$83,750
$80,000
$53,750
$60,000
61.6% Reached
the Minimum
$40,000
43.4% Reached
$20,000 the Minimum
$0
Average High-Growth
The common thread inherent in top producers is their will to “win.” Successful agencies harness this will to win by utilizing rewards
and recognition programs. There are several programs that agency executives can utilize to help drive the behaviors that win new
business:
• Contests - A competition for victory between peers with a common goal
• Exclusive Celebrations - An invitation to individuals who qualify through certain criteria
• Financial Compensation – Additional monetary awards for reaching specific goals
• Public Recognition - Attention or favorable notice after achieving a goal
• A Combined Approach – Many agencies use a mix of programs to drive desirable behaviors
There are several things that agencies should consider when building out the ideal sales program. First, look at the goal. The program
must be focused on the end result. The program must incent the behaviors that will achieve the goals. The program design should be
reviewed periodically to ensure that the chosen measurements are driving behaviors correlated to the end result. The most successful
sales contests measure behaviors such as number of qualified appointments rather than just reaching a sales goal at the end of the
year.
The program will not be successful unless the agency sets clear expectations at the outset and holds everyone accountable. Rewards
and recognition programs often fail because they do not allow for immediate success. Continuously monitor the programs to ensure
you are getting the best out of everyone. And finally, have fun with it! Celebrate the measured activities from time to time.
“People rarely succeed unless they have fun in what they are doing.” – Dale Carnegie
Justin Berry is Vice President of Sales Management at MarshBerry and can be reached at Justin.Berry@MarshBerry.com or 440-220-5431
Jim Wochele is a Sales Management Analyst at MarshBerry and can be reached at Jim.Wochele@MarshBerry.com or 440-392-6559
MarshBerry • 4420 Sherwin Road • Willoughby, Ohio 44094 • 800-426-2774 • www.MarshBerry.com • MarshBerry@MarshBerry.com
No portion of this publication may be reproduced without express written consent from Marsh, Berry & Company, Inc. All rights reserved © 2012.
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2. 2012 Market and Financial Survey
Included with this month’s newsletter is the Annual Market & Financial Survey. To see how your agency is performing relative
to peer agencies, we encourage you to take a few minutes to answer the survey questions. Your responses will provide
valuable insight into agency finances and how agencies are managing these turbulent economic times.
Only through your active participation can we provide meaningful results that you can use to improve your operation. The
results of the Market & Financial Survey will be published in the September, October and November 2012 issues of The
MarshBerry Letter
All participants will receive complimentary issues of each of these newsletters.
To complete the survey, please visit our secure website where all entries will remain confidential.
To participate online, please visit: http://www.marshberry.com/marketfinancialsurvey
Deadline for participation is July 10, 2012
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Benchmarking Services Sales Management Agency Peak Performance Strategy
Perspectives for High Performance (PHP) Cultural Mapping and Alignment EXchange (APPEX) Acquisition Planning
Sales Portal – Pipeline / Service Timeline Producer Goal Setting Over 115 Agencies Deal Return Modeling
Confidential Employee Morale Indexing Sales Portal – Pipeline / Service Timeline Over $1.1 Billion Revenue Strategic Options Analysis
Perpetuation Preparedness Accountability / Compensation Design Alternative Buyer Comparison
Operational Assessment Producer and Sales Manager Training
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Preparation
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Discussion Groups Over 35 Agencies Representation
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Agency Fair Market Valuation Nation’s leading organic growth agencies
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Conditions)
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Technical and sales training year one Earn-Out Maximization Consultation
MarshBerry • 4420 Sherwin Road • Willoughby, Ohio 44094 • 800-426-2774 • www.MarshBerry.com