The tech stack can be a great asset to insurance agents leading to growth and efficiency. But for many, technology becomes overwhelming, cumbersome, and interferes with their growth and efficiency.
Many of us have signed up for various software with excitement for advancement but quickly find that the costs, uses and the tech itself becomes more of a burden than a business development tool.
In today’s post, we want to show you how to wrangle your tech stack so that the benefits you envisioned can become a reality.
Choose Strategy before Technology
The growth of many insurance agencies has become stagnant. Traditional ways of doing things have become less effective for many. And all eyes are on technology as the solution for regaining momentum and growth.
Technology can help us with a lot in our businesses but if not implemented correctly it ends up costing us more bad than good.
The main reason for this is because we have bought the tech but do not know why. For technology to serve us well, we need to have a defined purpose for how we intend on using it.
Take a look at your current tech stack.
- What technology was purchased for a purpose and which was only purchased based on a recommendation from another business owner?
- What technology have you purchased but your staff fails to utilize?
- What technology do you have that you don’t understand how to use it and how it is supposed to help you grow your business?
The reason many of us are floating in technology we don’t use is because that which was promised sounded exciting but the actual strategy behind the results was never discussed.
What are your agency’s goals? What do you want your agency to become? How will technology contribute to those goals?
Realize that the technology we have is simply a tool. Without a strategy in place, we just have an expensive desktop icon.
When was the last time you reviewed your tech stack?
As insurance agencies, we tell our clients to review their insurance often? Why? Because things change, sometimes their policies no longer fit all their needs, sometimes carriers make undesirable changes, sometimes costs rise out of control, etc.
The same is true with your technology.
- You may have signed up for software that an employee used but left.
- Your agency pursued a specific project but eventually went in another direction.
- The tool may have started out as a low-cost tool but this widget and that fee pushed the price point.
- You may have signed up for a program with good intentions, but the help just wasn’t there to help you implement.
- And In some cases, you can grow out of a tool’s capabilities.
As I write this blog in December, it is a great time to review the tools you have and identify what tools you have, which are you using, and which may need to be replaced or ditched altogether.
Just remember to review your tech stack through the lens of your strategy. What technology doesn’t fit your goals and what technology fits your goals that you need to learn how to use better?
Do you need an integrated system?
While some of the technology we purchase is entirely based on another agent’s recommendation, many of the technology we have is for a purpose. A major problem, however, is that we have become overwhelmed with the number of technology offerings at our disposal.
Have you put together your systems by piecemeal?
- Did you create a blog, then pick up an email marketing program, then a CRM, then install a social media scheduler, etc.?
- Do you need to log into several different platforms just to perform daily duties?
- Is your staff confused about which technology is their responsibility?
- Are there too many programs for each staff member to be adequately trained on them?
The problem with the availability of too much technology right now is that it easily becomes an overwhelming hassle instead of leading to growth and efficiency.
Your solution may be an all-in-one system.
We’ve used integrated marketing and sales systems for nearly 10 years now and we could not imagine the pain of going back to doing things piecemeal. But, you are not us, so you need to decide for yourself what is best.
What tools do you have in place? Would it beneficial to have a system that provides most of your needed functions under one roof?
But don’t forget about the other things we have discussed today. Review your strategy and your needs, identify the opportunities and how a system may fit into your plans.
Do you have help?
One of the most frustrating aspects of marketing and sales technology in the insurance industry and is a plea we hear from agencies often is that no one helped them.
Fully understanding different marketing and sales strategies, the technology uses, and software functions can be a very big challenge. However, we see many experts suggest programs to non “techy” agencies but don’t offer the time to help them implement. We also see a lot of people selling services who have no intention of actually helping businesses through the process.
If you want to dive into better marketing and sales tools or you have them and just don’t understand how to use them, then I suggest getting help before moving forward.
Think about all the things we discussed today.
- Having a strategy in place as to why and how to use your tech stack.
- Reviewing your stack to see what you should ditch, replace or move forward with.
- Adopting an integrated system with all your marketing and sales functions in one place.
These are the foundations of a functional tech stack. Do you have the expertise to handle each piece of the puzzle?
If not, then your agency would benefit from getting a helping hand.