Prospecting activities are things you can do to put opportunities in the pipeline today. Marketing activities are things that will put prospects in your pipeline tomorrow. (Photo: Shutterstock)
One of the biggest struggles agencies and producers face is maintaining a healthy pipeline. If you aren't getting in front of prospects, you'll never write the new business you need. Every agency and producer has a different definition of what this looks like, depending on their conversion and close ratios, as well as the average size of opportunity they pursue. In general, a healthy pipeline is one that would ensure the producer or agency hits their sales goal.
Prospecting versus marketing
There are two ways to put opportunities in your pipeline—prospecting and marketing. Prospecting activities are things you can do to put opportunities in the pipeline today. Marketing activities are things that will put prospects in your pipeline tomorrow.
Prospecting may include cold calling/emailing, requesting referrals/introductions and networking. At its most basic definition, prospecting activities are when you are engaged in one-on-one, personal interaction during which you ask for an opportunity to have a sales conversation.
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