Tracking conversion ratios is essential for understanding your agency’s sales performance and optimizing lead-to-policy success rates.
Step 1: Accessing the Conversion Ratios Reports
Momentum AMS provides multiple reports to evaluate conversion performance. Follow these steps to access them:
To access the Leads Conversion Rate reports:
- Log into Momentum AMS.
- Navigate to Interactive Reports.
- Use the search bar at the top and type "Leads Conversion Rate."
- Select one of the following reports:
- Leads Conversion Rate Per Agent – To evaluate individual agent performance.
- Leads Conversion Rate Per Referral Source – To assess which lead sources generate the highest conversions.
- Apply relevant filters, such as date range, agent name, or referral source.
To access Producer Performance reports (Leadership Board & Producer Overview):
- Go to New Reports - Public Preview.
- Use the search bar and type "Leadership Board" or "Producer Overview."
- Apply filters such as date range and agent selection to focus on specific time periods or producers.
Step 2: Understanding the Leads Conversion Rate Reports
These reports provide insights into how well leads are being converted into bound policies and which agents or referral sources contribute most to agency growth.
Leads Conversion Rate Per Agent Report:
- Tracks how effectively agents convert leads into policies.
- Displays the number of leads created, the number converted, and the conversion percentage.
- Helps managers identify top-performing agents and those who may need additional coaching.
Leads Conversion Rate Per Referral Source Report:
- Analyzes the effectiveness of different lead sources such as online inquiries, referrals, partnerships, and marketing campaigns.
- Displays conversion percentages for each source, showing which generate high-quality leads.
- Helps agencies refine marketing strategies and allocate resources to the best-performing channels.
Step 3: Using the Producer Performance Reports
Momentum AMS also tracks producer activity and rankings to help managers evaluate sales performance.
Leadership Board Report:
- Ranks producers based on total premium and policy count.
- Compares performance against agency goals to help managers recognize top producers.
- Encourages competition among agents by displaying rankings based on new business bound.
Producer Overview Report:
- Breaks down individual producer performance by book of business, year-to-date sales, and historical trends.
- Displays premium written, agency commission earned, and number of policies bound.
- Helps managers evaluate long-term trends and determine if additional training or support is needed.
Step 4: Filtering and Customizing Reports
Momentum AMS allows you to refine reports with filters to analyze specific data points.
Common Filters Available:
- Date Range: Analyze performance for a specific timeframe.
- Agent or Producer: Focus on individual agent performance.
- Referral Source: See which marketing channels drive the most conversions.
- Policy Count or Premium: Compare sales volume and financial impact.
Applying these filters helps you drill down into specific trends and tailor reports for targeted analysis.
Step 5: Taking Action on Report Insights
Once you have reviewed the data, take proactive steps to improve conversion rates and producer performance.
- Enhance Agent Training: Identify agents struggling with lead conversion and offer targeted coaching.
- Refine Lead Generation: Invest more in high-performing referral sources and adjust marketing strategies for underperforming sources.
- Motivate Producers: Use the Leadership Board to foster a competitive, results-driven sales culture.
- Improve Sales Processes: Identify sales pipeline bottlenecks and streamline workflows to increase conversion rates.
Conclusion
The Conversion Ratios Reports in Momentum AMS provide the data agencies need to track sales performance, evaluate producer activity, and improve lead conversion strategies. By regularly reviewing these reports, agencies can refine sales processes, maximize conversion opportunities, and grow their book of business.
If you have any questions about these reports or need assistance using them, our Momentum AMS support team is here to help. Start using the Conversion Ratios Reports today to drive better sales outcomes and increase agency profitability!