What is 'The 4 Quadrant Method?'
In its most basic form Salesforce.com is a set of tools. As a result Salesforce.com can be implemented in different ways for different industries. At PSAdvisory we have a developed a implementation framework for the Insurance Brokerage Industry which we like to call 'The 4 Quadrant Method'.
This Framework is not something you would install from the AppExchange but is rather a focused design philosophy which takes our real world experience of what it takes for Agency Producers to be successful and translates these traits into tools inside Salesforce.com which producers and managers can utilize to be successful.
So what are 'The 4 Quadrants'?
This Framework is not something you would install from the AppExchange but is rather a focused design philosophy which takes our real world experience of what it takes for Agency Producers to be successful and translates these traits into tools inside Salesforce.com which producers and managers can utilize to be successful.
So what are 'The 4 Quadrants'?
Find & Qualify New Business
In order to grow an agency needs to prospect and close new business. Most businesses know this but these are probably the biggest challenges to do well. That said, when one meets a successful producer who has built a successful book one trait always jumps out. They have developed a disciplined approach to prospecting. Not only do they ensure that they allocate time and resources to prospecting but they have a method to qualify each prospect. There are only so many hours in the day and if you can implement a system that ensures that you focus the majority of those hours in the most productive way possible, then over time you will find success.
So how does Salesforce.com play into all of this? Salesforce.com is at its core a set of tools which enable and empower. However in order to do so Salesforce.com needs to be configured correctly. The question we like to answer with clients is how can we configure Salesforce.com to enable your producers to become more disciplined prospectors? How can we take the best practices of not only your most effective producers but the best practices of industry leaders and weave those traits and behaviors into your implementation of Salesforce.com? Thus creating a framework of best practices that will not only make your best better but also raise the game of your new or middle of the road performers.
So how does Salesforce.com play into all of this? Salesforce.com is at its core a set of tools which enable and empower. However in order to do so Salesforce.com needs to be configured correctly. The question we like to answer with clients is how can we configure Salesforce.com to enable your producers to become more disciplined prospectors? How can we take the best practices of not only your most effective producers but the best practices of industry leaders and weave those traits and behaviors into your implementation of Salesforce.com? Thus creating a framework of best practices that will not only make your best better but also raise the game of your new or middle of the road performers.
Drive Up-Sell and Cross-Sell initiatives
Finding ways to develop and execute effective Cross-Sell and Up-Sell campaigns is the holy grail of building a strong book. Many know this but very few agencies do it effectively.
Just so we are all on the same page we define Up-Sell as adding coverages within the same practice line while Cross-Sell is defined as adding a new practice line to an existing client.
So how can Salesforce.com assist in driving these two critical objectives?
Traditional Agency Management Systems, which are the bedrock of any agency, do a poor job of allowing producers and management to easily identify such opportunities never-mind create a structured framework within in which an individual producer or team can execute and track the results over time. Salesforce.com, with its reporting and campaign management tools is perfectly setup to support just these kinds of activities. Again it comes down to understanding the technical capabilities of the system but also an intrinsic understanding of how an insurance agency works.
At PSAdvisory we work with your team to identify how you might utilize Salesforce.com to leverage the data you already have within your agency to identify Up-Sell and Cross-Sell opportunities and ensure that responsibility for followup is assigned while providing management with visibility into the process from start to finish. As the saying goes there is gold in those there hills now all you need to do is find it, extract it and get it to market. We believe in combination with Salesforce.com we can help you do that.
Just so we are all on the same page we define Up-Sell as adding coverages within the same practice line while Cross-Sell is defined as adding a new practice line to an existing client.
So how can Salesforce.com assist in driving these two critical objectives?
Traditional Agency Management Systems, which are the bedrock of any agency, do a poor job of allowing producers and management to easily identify such opportunities never-mind create a structured framework within in which an individual producer or team can execute and track the results over time. Salesforce.com, with its reporting and campaign management tools is perfectly setup to support just these kinds of activities. Again it comes down to understanding the technical capabilities of the system but also an intrinsic understanding of how an insurance agency works.
At PSAdvisory we work with your team to identify how you might utilize Salesforce.com to leverage the data you already have within your agency to identify Up-Sell and Cross-Sell opportunities and ensure that responsibility for followup is assigned while providing management with visibility into the process from start to finish. As the saying goes there is gold in those there hills now all you need to do is find it, extract it and get it to market. We believe in combination with Salesforce.com we can help you do that.
Retention
Renewals management is one of the foundational roles of every agency. The whole concept of building a book of business stands firmly on the shoulders of the renewal. Unlike many other products, insurance is something that businesses or individuals need to have. Its almost not a choice. The real choice is whether they will renew with your agency.
So how does Salesforce.com help you with renewals since most Agency Management Systems are at their core policy renewal systems?
Salesforce.com is a platform with a set of tools that can be used to design a framework within which to manage not only the renewals process itself but also 'Stewardship Programs'? After all how does one make certain that the client is aware of the value you are bringing to their organization during the coverage period if there are no claims? So often when an agency is faced with the prospect of losing a renewal to a competitor, staff are left scrambling to demonstrate the value that your agency has provided especially if there is a premium increase. Salesforce.com can be used to create an agency wide 'stewardship' framework on a per client basis that ensures your organization has delivered value to the client outside of the claim process but that there is a record of these 'value adds' come renewal time.
Stewardship programs are just one example of where Salesforce.com differentiates its self. Yes Agency Management Systems record 'activities' but the intent behind this has far more to do with 'E&O' than servicing clients. With Salesforce.com's Activities Management capabilities and Analytical Reporting tools you can gain insights into customer integration like never before all the time ensuring that you are delivering value for the client and are able to easily record and report on said 'value adds' come renewal time.
So how does Salesforce.com help you with renewals since most Agency Management Systems are at their core policy renewal systems?
Salesforce.com is a platform with a set of tools that can be used to design a framework within which to manage not only the renewals process itself but also 'Stewardship Programs'? After all how does one make certain that the client is aware of the value you are bringing to their organization during the coverage period if there are no claims? So often when an agency is faced with the prospect of losing a renewal to a competitor, staff are left scrambling to demonstrate the value that your agency has provided especially if there is a premium increase. Salesforce.com can be used to create an agency wide 'stewardship' framework on a per client basis that ensures your organization has delivered value to the client outside of the claim process but that there is a record of these 'value adds' come renewal time.
Stewardship programs are just one example of where Salesforce.com differentiates its self. Yes Agency Management Systems record 'activities' but the intent behind this has far more to do with 'E&O' than servicing clients. With Salesforce.com's Activities Management capabilities and Analytical Reporting tools you can gain insights into customer integration like never before all the time ensuring that you are delivering value for the client and are able to easily record and report on said 'value adds' come renewal time.
Scalability, Mobility & Visability
Success in the brokerage business is as much about relationships with clients as it is about the internal relationships between producers, management and support staff. It is these internal synergies that drive collaboration, which is critical to closing deals and maintaining satisfied client relationships.
As agencies grow in size, maintaining these relationships becomes more challenging. Producers no longer run into one another in the office hallways and parking lot. The relationships between support staff are limited to phone conversations and email. Overall collaboration is made more difficult in a larger, spread-out environment.
So how can Salesforce.com help you over come these challenges?
Given that Salesforce.com is accessible from any web connected device whether a laptop, PC, Tablet or Smart phone, this removes many of the physical and geographical limitations associated with growth. In addition when Salesforce is built on top of a contextual workspace tool like Chatter, an organization can really help its producers, management and support staff can easily work together in the context of new business, Cross-Sell / Up-Sell Opportunities and Retention Management.
As agencies grow in size, maintaining these relationships becomes more challenging. Producers no longer run into one another in the office hallways and parking lot. The relationships between support staff are limited to phone conversations and email. Overall collaboration is made more difficult in a larger, spread-out environment.
So how can Salesforce.com help you over come these challenges?
Given that Salesforce.com is accessible from any web connected device whether a laptop, PC, Tablet or Smart phone, this removes many of the physical and geographical limitations associated with growth. In addition when Salesforce is built on top of a contextual workspace tool like Chatter, an organization can really help its producers, management and support staff can easily work together in the context of new business, Cross-Sell / Up-Sell Opportunities and Retention Management.