Who doesn’t love making good things better?
Spending time fine-tuning a workflow and adjusting processes to maximize results is just under a warm slice of pecan pie on my list of favorite indulgences!
But before we start spending time optimizing our team’s workflow and habits, are we really sure they’re following through with our minimum expectations?
Have you set a clear standard for them to achieve on a daily basis?
Check out the Pyramid of Minimum Expectations —>
The Pyramid of Minimum Expectations establishes a clear, structured approach for insurance producers to follow daily. Here's how following this model can help increase sales:
1. Focus on Results (Top-Down Philosophy):
- By setting a daily goal of producing a minimum number of items (2), producers are pushed to prioritize activities that directly contribute to sales.
- This results-oriented approach ensures that producers make the most of their days, leading to increased productivity and higher sales.
2. Process Improvement:
- The pyramid emphasizes reviewing and refining the sales process if the minimum items aren’t produced. This includes evaluating the quality and follow-up of quotes, the ability to venture through the sales process successfully, and using effective closing techniques.
- If items are lacking but quotes are high, that tells you exactly what this producer needs to focus on, closing!
3. Activity Monitoring:
- At the most basic level, this pyramid stresses the importance of making a minimum number of outbound calls (80) to achieve the next two steps in the process (quoting and closing). Higher activity levels increase the amount of opportunities to close new business.
- If a producer is struggling to make 80 calls in a day, then review their talk time and discover where their time is actually being spent.
Here are some best practices to conquer the basics:
Set Daily Goals:
- Clearly define your expectations and commit to writing a minimum of two items daily. Having a specific target keeps producers focused and motivated
Effective Scripting:
- Use effective scripts for calling prospects. Focus on relationship building, addressing pain points, and presenting tailored solutions.
Follow-Up Diligently:
- Follow up promptly and consistently with prospects. Timely follow-ups demonstrate reliability and keep potential clients engaged.
Leverage Referrals:
- Ask for referrals from satisfied clients. Personal recommendations can be highly effective in generating new business.
Continuous Learning and Training:
- Participate in regular training sessions to stay updated on the latest sales techniques, product knowledge, and industry trends. CWC hosts a Morning Huddle every day!
Track and Analyze Performance:
- Keep track of daily activities, quotes generated, and items written. Analyze this data to identify areas for improvement and adjust strategies accordingly.
Use CRM Tools Efficiently:
- Make full use of CRM tools to manage leads, track interactions, and automate follow-ups. Efficient CRM usage can significantly enhance productivity.
Stay Organized:
- Maintain an organized schedule and workspace. Plan daily activities in advance to ensure that time is available for both follow-ups and new outreach!
Adopting the Pyramid of Minimum Expectations is a great way to enhance the sales performance of your team.
By providing a clear, structured framework that prioritizes results, you lay the framework for increased productivity.
Implementing these best practices allows producers to remain focused, organized, and motivated.
This WILL drive increased productivity and higher sales.
Make it a great day!
