I would rather have 5 cases of 12 lives than one case of 60 lives. Retention & loyalty on the 60 life case is tough - the competing agents are brutal, and loyalty goes out the window when the person you deal with directly must answer to a boss or a board. I'd rather work with the boss himself/herself like you do on a smaller case. I have some 60 life cases, but I always tell myself I will lose this case in 3-6 years. Sometimes I keep it longer, but I don't base my office budget on it, I just consider the commission to be a "bonus". My retention on cases with 30 or fewer employees is greater.
Competing with the Large Agency
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I would rather have 5 cases of 12 lives than one case of 60 lives. Retention & loyalty on the 60 life case is tough - the competing agents are brutal, and loyalty goes out the window when the person you deal with directly must answer to a boss or a board. I'd rather work with the boss himself/herself like you do on a smaller case. I have some 60 life cases, but I always tell myself I will lose this case in 3-6 years. Sometimes I keep it longer, but I don't base my office budget on it, I just consider the commission to be a "bonus". My retention on cases with 30 or fewer employees is greater.
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The bottom line is I have to become a better salesman.
To make to the finals and not close is not acceptable.
The last finals I was presenting to a board of 4, owner and consultant. The HR on the board wanted me and another member. It was a tie and the owner casted the final vote against me. HR's vote should have counted as 2!
The bottom line is small group is going to be gone as we know it today. If you are not writing large cases come 2014 you will be broke. I have a few right now but I really need about 10 of them. Which is a realistic goal.
I am hoping next year I can pick up these groups that I presented to after the BS large agency don't live up to what they say.
To make to the finals and not close is not acceptable.
The last finals I was presenting to a board of 4, owner and consultant. The HR on the board wanted me and another member. It was a tie and the owner casted the final vote against me. HR's vote should have counted as 2!
The bottom line is small group is going to be gone as we know it today. If you are not writing large cases come 2014 you will be broke. I have a few right now but I really need about 10 of them. Which is a realistic goal.
I am hoping next year I can pick up these groups that I presented to after the BS large agency don't live up to what they say.
Guerrilla marketing. Do what those big agencies can't do and that is selling yourself, your knowledge and how you can give more service to them. Big agencies tend to have a revolving door for agents and I use that to my advantage. I've been here for almost 30 years, I won't be selling something else next week and you can count on me being here to help you when needed. Normally I'm faster, I'm swifter and I'll work harder for you than a big agency.
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When I lost out to the larger houses after holding them off for a while, it came down to simply what gifts could you provide? Season tickets? Company meeting in Vegas?
At a certain point you have to decide if you can compete with those who can buy the business by spending a ton of money on perks.
Never was a service issue, it was money.
I will say what worked for me for a good while was this simple statement to the group. " to these guys you are just another little fish in their big net. They pay attention to you now, but later will they as you are just another customer. With me, you are my big fish, my first priority. Which fish do you want to be?"
worked for a long while, till the trips to vegas for the upper management....
At a certain point you have to decide if you can compete with those who can buy the business by spending a ton of money on perks.
Never was a service issue, it was money.
I will say what worked for me for a good while was this simple statement to the group. " to these guys you are just another little fish in their big net. They pay attention to you now, but later will they as you are just another customer. With me, you are my big fish, my first priority. Which fish do you want to be?"
worked for a long while, till the trips to vegas for the upper management....
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There has been some good info on this post. I will put some thought to it.
I had another blow the other day. I called on one of the groups I did not get 1st quarter and asked how the enrollment went with the large agency. Owner of 59 life company told me he was "extremely happy with enrollment".
To use the phrase extremely happy means I am SOL.
The only thing that can happen is if they drop the ball on the service. That is a big IF.
I had another blow the other day. I called on one of the groups I did not get 1st quarter and asked how the enrollment went with the large agency. Owner of 59 life company told me he was "extremely happy with enrollment".
To use the phrase extremely happy means I am SOL.
The only thing that can happen is if they drop the ball on the service. That is a big IF.
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LOL........................that would be bump!
PattiG
New Member
Don't be intimidated by the size of the agency. What it ultimately comes down to is the quality of the representative the client is working with. My NY office has taken many cases away from Aon; I've taken cases away from Paychex's agency. These places are all on good behavior during the honeymoon. Just wait till the renewal. Especially if the group is under 250 and it has a 1/1 rnewal!
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