Born and raised in Massillon, OH, the agent is closely familiar with Stark County and Northeast Ohio.As of 2007, the State Farm Insurance Company is the largest insurance company in Stark County with 23% of the market share.A list of potential prospects has already been compiled and will serve as a launching pad for marketing the products and services.
It has been determined by industry averages, State Farm customer loyalty in the first year is 80%, second year is 85% and third year is 89%.
Other than auto, which renews every six months, all other insurance products renew on an annual basis.
The available market share of 77% represents the estimated market that State Farm Insurance has not captured at this time.
Although, the entire state is an available marketing area, the Stark County area will be the focus marketing area at this time. This can be used for determining the market for accounting and bookkeeping services and commercial lines of insurance including property and casualty, retirement and workers compensation.
The overall market for State Farm/Sample Agency is wide open.
Business Plan For Insurance Agent Public Administration Dissertation Topics
This business plan has identified over 380,575 individuals and business as potential clients in the market area.
Agency's competitive edge is our positioning as strategic ally with our clients, who are clients more than customers.
By building a business based on long-standing relationships with satisfied clients, we simultaneously build defenses against competition.
The longer the relationship stands, the more we help our clients understand what we offer them and why they need it.
Agency's sales strategy will be based on systematic person-to-person contacts through referrals, direct mail, telemarketing and the Internet.