Over the years, brokers have convinced themselves that large buyers value processes, and many have embraced the nebulous term “Value-Added Services” to translate their outcomes.
Newsflash: Buyers today aren’t interested in features or processes. They want to know how you’re going to help them improve their bottom line and reduce their financial leakage.
So here’s the heart of the matter: Your most important competitive advantage is left on the table when you don’t quantify the amount of financial improvement your services can help the buyer achieve.
Here are the 3 Steps that Analytic Brokers take to measure the impact of their services:
- They identify the financial leakage that exists on a buyer’s financial statement (a hard target) and bring in specialty resources to recapture it.
- They track their cost reduction and recapturing performance over time to measure the impact of their projects (in real dollars).
- They translate their outcomes into financial terms and tie them to the buyer’s most important metrics (EBITDA, margins, shareholder value, etc.).
Analytic Brokers who work this way turn their risk control and claims resources into a powerful competitive advantage.
Astute brokers provide buyers with the quantifiable financial “decision support” they’ve always wanted. More importantly, they validate their business relationship as a trusted financial partner (not a “Value-Added Services” provider).
So, if you want to grow your larger account book of business, you’ll need to stop shooting into the dark when it comes to the valuation of your resource capabilities. When you measure a buyer’s costs and leakage correctly, your ability to reduce them becomes your brightest spotlight, one that your buyers won’t be able to take their eyes away from.
You can learn more about the Analytic Brokerage Platform, Financial Leakage, and our Resource Capability Tracking and Valuation Tools, with a free 14-day preview of the Analytic Brokerage Platform.Get Your free 14-day preview of the analytic brokerage platform now
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.