April 6, 2009

Are you differentiated by the 'experience' you create for potential customers?

The Wall Street Journal recently published a good article on how retail giant Best Buy is re-inventing the store experience for its customers.

In order to differentiate from Wal-Mart and other competitors, Best Buy is developing a focus for its stores: helping customers navigate the complexities of today's technology. The chain's front-line workers, the "Blue Shirts," factor prominently in this plan. They will increasingly become problem solvers, not order takers.

The article seemed to have sharp parallels to the insurance industry. It made us wonder: How can producers create a distinct "sales experience" – one that clearly differentiates them from the other guys?

Top-flight producers don't push products. They don't approach conversation as an exercise to benefit them. They don't even "sell."

The best producers create an experience that not only culminates with the prospect making a purchase, but also builds the foundation for a long-term relationship.

So how does a differentiated producer create such an experience? Here are three keys:

o Show up informed. Prospect research must venture beyond the first 20 results from Google. The differentiated producer digs deeper into a company and its industry before making the sales call. Think of this preparation as drilling for oil: Soon, you'll have plenty of fuel for conversation.

o Focus on uncovering, then solving, a problem. The knowledge you gain in preparation work will help shape insightful questions. Asking good questions – and actively listening to the answers – leads to productive dialogue. Through this dialogue, you learn about the prospect's challenges and pain points. The coverage and protection you provide are no longer commodities; they're the solutions to these challenges, and you can present them as such.

o Leave the call with a clear way to continue the experience. The biggest mistake you can make after an engaging dialogue with a prospect is to treat the follow up as a transaction. Of course, there's coverage to underwrite and paperwork to complete. But each communication that follows is an opportunity to continue differentiating yourself as someone who provides value.

The best experiences are memorable. Every interaction with a prospective client is an opportunity to help someone, and to be remembered for doing so.

And if you'd like to brainstorm how your agency might create an experience for prospective clients, e-mail us or call us at 404-541-6600, ext. 102.

Insurance agency expert joins DBH team

Agencies and brokerages looking to elevate their performance may be glad to learn that industry veteran VeNita Schnebele has joined DBH Consulting as Executive Vice President.

VeNita has built a career on helping agencies and brokerages transform their operations and sales effectiveness, so that they perform at peak levels. At DBH, she will play a key role in developing growth planning initiatives for clients, as well as providing new thinking for execution and measurement of planning.

"VeNita is truly an operations guru," says Demmie Hicks, founder of DBH Consulting. "She is uniquely skilled at helping agencies take the steps necessary to grow – not only by generating more revenue but by increasing profitability."

Performance and versatility have been the hallmarks of VeNita's career. She has held leadership positions on both the agency and company sides of the business, and for organizations ranging from $11.5 million in revenue to leadership responsibility with a national broker. And whether working in sales, operations and marketing leadership, VeNita's contributions have consistently led to the growth and evolution of organizations.

"DBH Consulting has a track record for helping agencies and brokerages reach the 'next level,'" VeNita says. "I look forward to helping both existing and new clients take new action to grow their enterprises."

Worth Reading: "Can You Pass a C.E.O. Test?"

Adam Bryant writes a new Sunday Business feature in the New York Times called Corner Office. In the March 15 edition, his column featured an interview with Greg Brenneman, chairman of CCMP Capital. Brenneman currently mentors a number of C.E.O.'s from CCMP's 50 portfolio companies.

In the past, Brenneman has held executive leadership positions at companies like Quiznos Subs, Burger King, PwC Consulting, and Continental Airlines. In this article, Bryant interviews him on his views about the leadership and management qualities of a C.E.O.. We found it thought-provoking.


Brenneman's views on effective leadership include the importance of open communication, humility, appreciation and work/life balance. The most important question he asks his clients is, "What are the 2-3 levers that will turn this business?" He thinks that business plans should be well thought out and be able to fit simply and concisely on one page.


As a leader in your organization, we ask you, what are the 2-3 levers, that you could pull, that would really make a difference in your agency?

To read more, email us for a link to the article.

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