Highly digital agents grow faster
Imagine if you could find a way to grow 70% faster than your competitors. It would be amazing, right? Recent research out of the US from Liberty Mutual shows that across independent agencies, those that are highly digital grew 70% faster compared to other agents between 2020 and 2021.
Key takeout: Focusing on digital adoption aligns with faster growth.
So what is driving this faster growth and how can you take advantage of it?
Customer expectations continue to rise and shift toward digital engagement with agents. Customers want to be able to find and connect with agents online, in ways that work for them and through channels that they decide.
--> 61% of customer interactions happened online in 2022 a huge increase from 42% of customer interactions happening online in 2019.
Put another way, digital-first customer engagement is now what a majority of customers desire and utilise.
Reviewing your operations:
Are you set up for digital-first customer engagement?
Can customers find and connect with their agents directly, quickly and easily?
78% of customers use multiple channels to start conversations with their agents and want to continue their engagement and connections with their agents through various channels.
So what digital tools are driving growth for agencies?
“Our research found that the most forward-thinking, growth-focused agencies use more digital tools than those that aim for slow and steady growth.”
Digital adoption can look like the following and may be unique for your operations and processes. Here are three areas you could consider for your organisation:
1: Smoother digitally enabled hiring processes
Using digital channels and digital tools during the recruitment process influences the talent you are able to acquire. New employees start assessing your digital capabilities and processes during the hiring phase. The best talent wants the best tools and best onboarding practices. So if you want to attract and recruit smart talent then you can and should compete via your digitally enabled hiring process.
2: Smarter digital marketing
- Consistent use of social media for positioning your brand and people and reaching customers.
- An understanding of SEO and how customers search and use Google to become educated when they are searching for your product.
- Regular content marketing that is customer-centric rather than business, industry or product-centric.
- Utilising your team's digital reach and social networks for the distribution of your agency's content and marketing materials and messaging.
- Collecting and using data and analytics that are accessible, accurate and actionable.
3: Digital tools for internal processing
- CRMs for managing client engagements and sharing knowledge across team members.
- Quoting and binding capabilities with easy input of data that can be shared across multiple vendors
- Workflows driving agents toward the next best action with specific customers
- Automated and triggered customer email marketing to lift personalised and timely engagement.
- Data and analytics and real-time business dashboards
Key takeout: Growth-focused agencies are more likely to be high digital adopters
AdvisrME forms part of your marketing infrastructure. Enabling you to engage your entire team to help drive your business and reach more customers via digital channels.
If you want to grow fast, then reach out to learn more.