94 / 204
2013 Best
Practices Study
Agencies
with Revenues
Between
$2,500,000 and
$5,000,000
94
Analysis of Agencies with Revenues Between $2,500,000 and $5,000,000
Key Benchmarks
Mgmt. Perspectives
Profile
Revenues
Expenses
Profitability
Employee Overview
Producer Info
Service Staff Info
Technology
Insurance Carriers
Appendix
Technology Tools
(% of agencies utilizing)
Average +25% Profit +25% Growth
Agency Website
Optimized for Search Engines
76.1%
90.9%
81.8%
Participate in “Paid” Search Programs (e.g., Google Adwords)
37.0%
45.5%
27.3%
Offer Realtime Quotes
19.6%
18.2%
0.0%
Offer “Request a Quote” (Online App — Not Realtime)
69.6%
81.8%
54.5%
Optimized for Mobile Devices
34.8%
36.4%
45.5%
Other
21.7%
9.1%
27.3%
Other included integrated client portal, hubspot, bi-directional data piping/e-signatures, focus on niche marketing, pay online, internet-based risk
management system, home and auto changes, billing inquiries, and Project Cap.
Social Media
Blog
26.1%
18.2%
18.2%
71.1%
81.8%
72.7%
YouTube
8.7%
0.0%
9.1%
39.1%
27.3%
18.2%
65.2%
45.5%
36.4%
Google Places
30.4%
27.3%
27.3%
Online Ads
23.9%
18.2%
0.0%
Email Blast
43.9%
27.3%
27.3%
Other
6.9%
9.1%
0.0%
# of Staff Devoted to Social Media
1
1
1
% of Their Time Devoted to Social Media
8.9%
3.9%
1.9%
Other included newsletter, IIABA Project Cap, and to use services of a social media consultant.
Other included remote access to network, Sales Genie, Producer Plus and My Sales Results.
Producer Support
Pipeline Management
58.7%
63.6%
63.6%
Tablets/Laptops in the Field
54.3%
45.5%
45.5%
Mobile Apps
19.6%
18.2%
36.4%
Other
15.2%
18.2%
18.2%
Other included using insurance company programs to find prospects that meet company profile.
Business Intelligence Tools—Internal
Spreadsheets
71.7%
54.5%
63.6%
Benchmarking
39.1%
36.4%
36.4%
Reporting & Querying
56.5%
45.5%
63.6%
Other
2.2%
9.1%
0.0%
Other included AM Best, Constant Contact, Compliance Check, Sales Genie, Risk Mitigator, Share File, CSR 24, Succeed Risk Management Solutions, PL
Rater, Compline, Semcat, Modmaster, iWin 951 - The Wedge Group,
mystrategicplan.com, Addis Intellectual Capital, Blue Print Selling, Risk Rover 365,
Insurance Track, Lead Orchard (telemarketing), and Business Wise.
Business Intelligence Tools—External
Zywave
23.9%
0.0%
27.3%
Hoovers
10.9%
9.1%
18.2%
Other
26.1%
18.2%
18.2%