I was looking through my photos and came across one that I thought was interesting.

We’ve attended a lot of conferences lately, but one of the more interesting things I’ve seen was a sticker chart at a Safeco booth. The idea was simple. Put a 1, 2 or 3 sticker on the board showing how the agency generates new business.

When Zack and I first arrived, it was empty. By the end of the conference, here’s what it looked like.

Top 3 ways insurance agencies generate business (chart) - Safeco top 3

Not surprisingly, referrals from existing clients is the most popular way agencies generate business.

However, look at all of the other options. For example, not that long ago, “Yellow Pages” would have been near the top of the list. Now, it’s an empty, sticker-less box.

You don’t need a calculator to see that the internet is a powerhouse in generating new business…led by the agency’s website, content marketing and SEO.

Really, all three of those things are part of the website. It’s the hub of the wheel.

The Bicycle Wheel of Business

Many years ago, I came up with the Bicycle Wheel of Business to help bring perspective to the digital landscape. Here’s what it looks like.

Top 3 ways insurance agencies generate business (chart) - The Bicycle Wheel of Business

The website is the hub of the wheel and often the first impression the business makes on people.

There are a bunch of ways to drive people to the website. Those are the spokes of the wheel. Some of them are shown on the wheel above, but there are more.

The takeaway and opportunity

When I worked for the agency my dad was running 20 years ago, there would have been just two columns on the Safeco chart above. The internet didn’t really exist in terms of generating business.

Now, however, it’s your biggest opportunity.

Most agencies are not like the ones who attended the Elevate 2018 conference a few weeks ago. Most don’t do much (if anything) to leverage the internet. Most are “sitting” on their books of business and hoping for the best.

Most don’t know how to change. Don’t be like most.

Be different and put your stickers where they count.

Author Jeff Teschke

More posts by Jeff Teschke
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