Every sophisticated middle and upper-middle market C-Suite buyer is now assessing their business advisors and providers with one question in mind:
“How has this relationship helped us achieve our business goals?”
Many benefits brokers find it difficult to answer this question without referring to the insurance program. Why? Because beyond measuring PEPY/PEPM metrics or comparing their impact to trend, benefits brokers have been unable to successfully demonstrate the financial impact of their services to C-Suite buyers.
It’s time to quantify your TRUE value to the C-Suite using key performance indicators (like margins, EBITDA, and shareholder value) to demonstrate your impact on their business models.
Think about all the services your organization provides a client in the area of cost containment. Are you able to quantify the financial impact? Or do you just make a list of features and projects?
It’s time for Benefits Brokers to work a better way and move away from the transaction and toward a measurable business outcome. When you prove your quantifiable value rather than the amount of your INCREASE, you become a business consultant, a provider of financial outcomes, and better than your competitors. Best of all: C-Suite buyers welcome the message.
So, if you really want to Crack the C-Suite Value Code, here are your 5 Keys to Success:
- You must have a way of quantifying your business results to a buyer using credible data. (Resource valuations, KPI projections, and client financials – just to name a few.)
- Your firm must be able to translate your entire value onto a buyer’s business results and metrics. (Use their own KPI’s and financials to judge your effectiveness.)
- Your production team must be schooled in the production of financial benefits and NOT insurance and technical tools. (It’s about outcomes – not insurance.)
- The culture of your organization must change from that of an Insurance Brokerage to that of a business organization that improves a buyer’s KPI’s. (Speak the language of business.)
- You must actually have the ability to do it in a quick and replicable way. (Get out of your own silo and invest in the technology to accomplish it.)
The playing field has shifted from the H.R. Department to the C-Suite for large group sales, and results-driven CFO’s and executives are asking for real numbers and data. Benefits Brokers who utilize credible data to measure their true impact and speak the language of the C-Suite with outcome-based strategies will continue to gain market share from their PEPY/PEPM-focused competitors.
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Grab a copy of our “How Benefits Brokers Gain Access to the C-Suite” White Paper
There’s a better way to break free from the PEPY-pack and engage buyers at the C-Suite level. Read our exclusive, free White Paper to learn about:
* Valuing Your Services with C-Suite KPI’s
* Total Cost of Human Capital – The Correct Way to Measure Outcomes
* Shifting from the H.R. Department to the C-Suite Decision Base
Don’t play on the same PEPY playing field as your competitors. Learn how to translate your outcomes for C-Suite-level engagement and attract outcome-driven buyers.
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About the Analytic Brokerage™ Platform
Leading brokerages and producers across North America choose the Analytic Brokerage Platform to maximize their large account profits, revenues, and growth.
Utilizing the latest KPI’s, client metrics, and business intelligence, the Analytic Brokerage Platform is the only system in existence that helps brokers:
- Quantify a buyer’s financial leakage and true Total Cost of Risk
- Deliver consistent and meaningful reports
- Attract and retain larger accounts
The Analytic Brokerage Platform is currently embedded inside many of North America’s leading brokerages who control over $2,000,000,000 of annual revenues.