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Margin improvement

When you boil it down, there are only two ways to improve your margin, either

  • Increase revenue; or
  • reduce cost.

Of course, some of your costs will be fixed (at least in the short/medium term) so it’s only a proportion of costs that you can effect immediately.

  • How can you reduce your costs without adversely impacting on customer service?
  • What can you do to become more efficient?

Often, revenue generation offers the best route to margin improvement.  It can be more complex, but the opportunities are much greater.  It’s not just about insurer’s commission rates, but even if you can increase remuneration, the key is to deliver business into those markets.

  • Are your insurer deals good in market terms, considering your size?  How do you know?
  • Are you making the most of your assets, customers and previous enquirers?
  • Are you optimising customer revenue without risking your retention rate.

Whether a large or small business and whatever your market, there is almost always something you can do to improve your margin.  Get in touch to find out more.