The biggest expense in any agency is the staff. Of course, a quality staff is also the most valuable asset. Unfortunately, most agents I meet report that they are having a hard time identifying, recruiting, training, and retaining qualified staff. This problem is not going to go away. In fact, it is going to get worse. Changing demographics are going to have a profound effect on the ability of your agency to remain successful. Here are some … [Read more...]
Grey Googlers
Grey Googlers is the title given to a recent article in USAToday describing the growing number of older people who are turning hobbies into a source of income thanks to Google. Jerry Alonzy is one example. He created a career as an independent handyman at the mercy of weather patterns near Hartford, Conn. He always made a decent income that rarely grew. Then he found Google, and his life changed. Alonzy, 57, now makes $120,000 a year from the … [Read more...]
Generation Y Facts
By 2017, there will be approximately 91 million Gen Yers, compared to 88 million Gen Xers and 77 million Baby Boomers. Gen Y, also known as millennials, is an important demographic, as evidenced by several recent industry studies that highlight these important facts: Gen Y prefers choice in banking services. According to a survey by the American Bankers Association, 30% of those under 34 years of age prefer online banking. However, branch … [Read more...]
Court Friends to Increase Sales
Global public relations firm Weber Shandwick recently released a study revealing that companies can gain a significant competitive advantage by creating marketing programs that target baby boomers' expansive relationship networks. The survey, conducted with KRC Research, found that Boomer-to-Friend (B2F) communications are untapped in their potential to influence purchasing decisions for products and services. According to the study, titled "B2F … [Read more...]
Pay Attention to Online Marketing
In October 2006, I wrote an editorial in my print newsletter, The Automated Agency Report, that said, “…an increasing percentage of the population is relying on search engines to find information. Their searches include information about products and services they are interested in buying. As more and more people use the Internet to find providers of products and services, such as insurance, agencies need to become more sophisticated in … [Read more...]
2007 Agency Technology Trends
Some agencies (I wish I could say most agencies) are finishing their strategic planning for 2007 and beyond. Typically this includes establishing financial goals for the new year as well as projects that need to be completed. Below I have provided my view on the trends that you should be aware of as you go through your planning process. Use these thoughts to make sure you are considering all of the information you need to make your agency as … [Read more...]
