Although this is a necessary task, it is also a time-consuming task that can derail growth plans if total attention is focused in that direction. If customer service is neglected, then your organization may not need a few extra megabytes. Operating an agency today requires more skills than ever before. You may have too many companies, not enough companies or not the right company. Then your favorite company disappears due a merger, and now the bank down the street wants to compete with you.
Competition comes from both inside and outside of traditional marketing channels.
Competition demands that you give the client a reason you and your product are a better choice. If buyers cared only about price, Yugos would force Cadillac, BMW, Lexus, and Mercedes out of business. Others include product recall, canine mortality, nonfranchised powersports dealers, independent pay telephone operators, senior subsidized housing and a golf course flood policy. Hot areas would be the medical field, computer technology, support industries of these classes and international exposures for your domestic clients. If you are investigating new programs to present to a prospect, develop an in-depth description of the risk or group in question.