A wall map, created by MapPix, was used to get a clear picture of the ranked markets. The team was also able to use the growth projections data from the first step of the analysis to project market potential to 2000 and 2010. We had never objectively targeted SICs before. Each general agent had their own preferences, such as food service. They also found that business market opportunities are greatest in a relatively small number of geographic markets.
Some markets have a stronger consumer skew, while in others the business component is larger.
Knowing which major-group SICs represented the best targets enabled CML to plan the optimum allocation of resources, including specialized training for agents, and the best communications strategies for maximizing sales in specific areas. The company was also able to obtain tailored lists of specific businesses in a given area, rather than just asking for a list of businesses by a minimum net revenue and number of employees. Allocating resources properly was extremely important. With certain types of business insurance, you need expensive lawyers and other experts to train field agents because they are highly sophisticated products. The analysis also gave the company a better tool for evaluating performance.