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INDUSTRY
statement holds true for home-based
agents: No significant discrepancies
exist between at-home agents who
did well in 2008 and those who did
not. In many ways, successful and
less successful agencies seem similar
in their product mix.
The survey included a question
about actions retail agencies and
home-based agents had taken as a
result of the downturn. These results appear in Figure 2 on Page 20
and provide the first insight into
some of the differences between
agencies (and home-based agents)
that prospered in 2008 and those
that suffered.
All groups tended to put a strong
emphasis on watching expenses, but
the successful ones were much less
likely to:
• cut marketing expenses;
CONTINUED FROM PAGE 22
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Product mixes
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• reduce staff hours;
• cut staff; and
• reduce operating hours.
In contrast, they were more likely
to:
• expand products sold;
• increase marketing; and
• develop new sales training programs.
Stated differently, success is more
likely when agencies or home-based
businesses get more aggressive in
sales and marketing rather than trying to cut and trim their way out
of difficulties. Also, success seems
to correlate with efforts to protect
