Four Ways for Brokers to Stay Relevant in A Changing Industry

It’s a challenging time for brokers, as the industry changes on a daily basis. It is vital that brokers develop strategies to set themselves up for a successful future. Here are some ways to do just that.

Technology talks. Embrace technology. It is important that brokers have a modern, user-friendly website with blogs and guest blogs as well as links to relevant news and tips. Brokers should additionally have a strong media presence with platforms such as Facebook, Instagram, LinkedIn, Twitter, and even Snapchat. Videos and webinars should be employed to deliver important information. Offer clients an online relationship option if that is what they prefer.

Engage in innovation. A thirst for knowledge is key to staying relevant. Research industry trends, actively read, and attend conferences to engage the mind. Talk shop and bounce ideas off colleagues. Show an active interest in clients’ businesses, challenges, and triumphs. There is always something new to learn, and brokers need to stay on the cutting edge of their industry.

Hone in on a niche. Brokers who focus on a specific niche rather than having adequate knowledge on a wide variety of subjects will find it easier to stay relevant. Being an expert on a few topics will provide brokers with an opportunity to educate clients on exclusive programs and benefits. It will also strengthen the broker/client relationship as trust is built, and could result in future business as word spreads about the broker’s specific specialty.

Foster relationships. The aforementioned broker/client relationship is another component of staying relevant. A real relationship will extend beyond simply talking business. There needs to be a personal element so the broker’s services are not outsourced. Ask questions about a client’s interests and hobbies outside of work—and remember what they are—so they can be shared and discussed at a future date. Truly partnering with a client and working hard to increase the quality of his or her life increases a broker’s value and can go a long way to ensuring relevancy.