PHOTO: As Wave Season wanes, it’s time to focus on how to start the next season at the top of your game.
The great American Pastime, as baseball is fondly referred to, starts every year with spring training. The focus is on getting in shape, evaluating strengths and weaknesses, and determining the goals and the approach for the upcoming season. As Wave Season wanes, it may be a good time to go into spring training for your agency.
The first thing to do is to review the previous season. What worked and what didn’t? When did you hit home runs and when did you strike out – and more importantly, why? The answers to these questions will lead you to evaluate what you should capitalize on moving forward and what needs to be worked on or eliminated.
In baseball this happens by cutting players who are not adding value. In your business it may mean cutting activities, procedures or investments that are not productive.
You will also need to determine where you excel and how you can capitalize on those strengths. Maybe you sold a group that was very profitable. How can you sell three of them next season? What did you learn from the process that can be improved and duplicated?
In baseball, statistics are used to evaluate everything. Your business model should be no different.
Like the batting average in baseball, you should evaluate your Closing Rate Percentage (CRP). If you are not tracking this, start now. It may be the best way to move your agency from a lousy season to one of World Series status.
If you close one out of every 10 inquiries, you have a CRP of 10 percent. If you can move that to two out of 10, meaning no change in marketing investment, just better results with the leads you already are receiving, you would increase your CRP to 20 percent. While it looks like just a 10 percent increase it is actually a 100 percent increase – your sales and profit will double!
IMPROVING YOUR CRP
In baseball, spring training is focused on improving the batting average, or for you, your Closing Rate Percentage (CRP). This is the hard part – workouts, drills, practice and all of the things that encompass the word “training.”
It means education and revising your sales process, scripts and systems. You should attend all of the webinars and specialist courses offered by the suppliers you focus on. Expand your knowledge of sales skills with classes and programs beyond product knowledge.
Role-play and fine-tune what you learn so that you are confident to start the next season at the top of your game.