Numbers don’t lie. They don’t.
Sales is a numbers game. The law of large numbers rings true in insurance sales: the more people you talk to about a product, the more likely you are to sell more of that product. Or, rephrased: the more people you talk to about a product, the more you will sell.
You must know your numbers to work smarter and understand what to focus on each day.
What do we mean by “know your numbers”?
This means we must define our end goal and the steps needed to take to get there.
When you can clearly define your numbers, you can clearly define your quoting-to-closing ratios. And when you know those ratios, you will understand what inputs (activity) are required for your desired outputs (results).
Here’s an example of defining a goal number and what’s needed to achieve it:
Assumptions: (Alter this based on your ratios)
Average autos per HH: 2
It takes 4 quotes to write 1 policy
It takes 10 calls to quote 1 HH
4 pivots to quote 1
Written policies: 20
Quotes needed: 40
Break that down by the week.
Written policies: 5
Quotes needed: 10
Further, break that down by daily tasks to meet the weekly goal.
Written policies: 1
Quotes needed: 2
Outbound calls to make: 20
When you set monthly goals, it is important to break them down into weekly goals and daily tasks you have control over.
When you know your daily activities, you won’t question what you need to do or what to focus on during the day. You will know. And there is power in knowing.
Make a consistent effort to track your activity every day.
And, if you want to take it to the next level, be proactive and hold yourself accountable for your activities by reporting them to your Agent or a fellow team member.
Accountability measures like this are proven to boost success.
The highest-producing team members are the ones who know their numbers. And it makes sense.