101 S, M & M Ideas of 2017… How About 3 More?

Every year our editor, Andrea Wells, puts together the 101 Sales, Marketing & Management Ideas, compiled from agents and consultants, CSRs and CEOs, Insurance Journal magazine readers and website visitors.

As the year comes to a close, I wanted to add 3 ideas to make it 104. These lessons were learned from a master relationship manager, head of the Insurance Industry banking group of Connecticut National Bank, back in 1989. These are practices instilled in me by my mentor, John Richardson, that have stood the test of time and advancement in technology.

Preparedness: Prior to entering a client meeting, John would quiz me on the financials of the company, the product lines, how many assets we held, all of the services we provided and fees generated, our objectives of the meeting, personal information about the treasurer or CFO we were about to meet … and all of this I’d have outlined on index cards, should I stumble. Having tuned into the local public radio station, on the drive to the meeting, we’d be prepared with local topics of interest for introductory small talk.

Why? John would tell you, greater fluidity in conversation and problem solving are achieved when details are top of mind. Positive impressions are made when you’ve taken the time to get to know your prospect or client. Bringing knowledge and new solutions to the table through a well planned agenda increases the chances of getting another meeting.

Documentation: Back in the day, we didn’t have a CRM system…we had call reports. These were due into the typing pool the day of return from a business trip. Yes, handwritten reports of all aspects of each customer meeting were completed each evening, while on the road or on the flight home. These reports were circulated to senior management and then stored in the client folder.

Why? John would tell you, a habit was formed to document and report all nuances of a meeting for future use. The value of knowledge capture and transfer for future use is critical to a sales organization as the sale may happen long after you’ve moved on. Why don’t people like CRM? It’s time consuming, it forces shared contacts and knowledge, it tracks activity and keeps you honest. Those of us who started out in a paper based environment can hardly complain about the ease of updating a CRM on your phone or laptop right after a call. John would add, this is an extension of preparedness for your next call.

Innovate: In some respects Connecticut National Bank was the insurtech of it’s time. The bank developed early fraud detection through Positive Pay, subaccount reconciliation, and established early email systems with Hartford based insurers. Innovating with data transmission and the earliest EDI formats was exciting. Much of it stemmed from John’s attitude that ‘we would solve the problem.’

Why? John knew it was empowering to work for someone who encouraged innovation and problem solving, developing a ‘can do’ attitude. It instilled pride in our group’s work and the services we offered. Solving problems translated into new product offerings for the industry.

As I reflect on my new position with Wells Media, I am once again motivated by the vision of an empowering leader, Mark Wells. My copy of the book Ideas Are Free has just arrived – Mark’s recommended read is part of our own culture’s dedication to continuous improvement. Consider making this your organization’s read for 2018, because according to the author, ‘every employee idea, no matter how small, improves an organization in some way.’

Today, I have sent off a heart felt letter to my mentor, telling John how instrumental he has been, and I hope it inspires you to do the same for someone who, at some point in your career, showed you the ropes. Perhaps you’ll share these lessons with us in the 101 Sales, Marketing & Management Lessons of 2018!

I wish you all a happy New Year!

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