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Five Ways to Refresh Your Business for 2024

Start the new year with a plan to refresh your business and renew your strategic direction. This is the right time of year to think about how to drive more success and find new opportunities for your agency. Spend time planning now so you can enjoy a successful start to 2024.

 

Five Ways to Refresh Your Business in 2024

Even if you are enjoying success now, reviewing your goals and renewing your strategy is a smart move. Try our top ways to refresh your business now:

 

Keep an eye on current and upcoming trends.

Certain trends are safe bets for 2024, like the continuing proliferation of generative AI in the insurance industry — and the world. Think about what other trends may be popular in the new year and consider how you can maximize these for your agency. For example, marketing trends like hyper-personalization and insurtech trends like embedded insurance offerings are likely to stay trending in 2024. Think about other important trends and how you can incorporate them in your agency’s strategic plan.

 

Plan to develop soft skills in the new year.

A focus on developing additional leadership skills, or soft skills, is always useful. Agents and brokers need to be good listeners and have skills in empathy, communication, negotiation, and persuasion. These are all talents you can learn and improve — and having these leadership skills will help you grow your agency and manage it successfully.

 

Schedule time to attend industry events and conferences.

Part of your commitment as an agent is to be a lifelong learner, as demonstrated by taking CE courses. Be strategic about the classes you will take and events you will attend in 2024 to earn your ongoing education credits. Consider local, regional, national, and international events and decide which ones will have the best return on your investment, both in time and funds. For independent agents and brokers, the American Agents Alliance hosts a large P&C event annually that brings together independent agents and brokers from across the country. Consider adding it to your 2024 schedule.

 

Consider ways to improve the customer experience.

The focus on the customer journey will continue next year. Finding ways to continuously improve the customer experience at your agency will help with retention and word-of-mouth marketing efforts. Think about how you can anticipate customer needs and be proactive in offering solutions by finding ways to put the customer first. These actions will continue to set your agency apart from the competition.

 

Review your technology and data needs.

Consider what types of new technology you should invest in to continue growing your agency in 2024. Many different software companies and insurtech firms offer software that can help streamline operations in various ways, saving time and resources. If you have already invested in some technology upgrades, it is a good time to review the metrics and decide if you need to make changes. Data will continue to be critical in the insurance industry so make sure your agency has ways to keep customer data safe, private, and secure while finding insights.

 

Attend the American Agents Alliance 2024 Conference & Expo

Focus on growing your leadership and industry skills and network by attending the American Agents Alliance 2024 Conference & Expo on September 19-21 in Palm Desert, California. Including events like this in your strategic plan ensures you invest in your own development — which will in turn help grow your agency.

Mark your calendar now and watch for registration to open soon!

  

External Links:

  1.   https://www.forbes.com/sites/bernardmarr/2023/09/25/the-10-biggest-business-trends-for-2024-everyone-must-be-ready-for-now/?sh=4c7c3ea559ab
  2.   https://www2.deloitte.com/content/dam/Deloitte/ca/Documents/deloitte-analytics/ca-en-omnia-ai-marketing-pov-fin-jun24-aoda.pdf

3. https://www.mckinsey.com/featured-insights/mckinsey-explainers/what-is-cx

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