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How Do You Measure the Return...
Newsletter – Friday, March 16, 2012
My daughter Grace loves to spend money – mine not hers of course. I am almost positive that she still has the first dollar that went into her piggybank. She has inherited both Teri and my spending genes – I love to spend and Teri loves to save.
As the president of Tuscano, I struggle with the budgeting of our resources. People are our most important asset and I want more than anything else to make sure our people are taken care of. Technology is also an important part of our culture and identity and I need to make sure that we not only continue to expand our capabilities, but pay for the maintenance of what we currently have as well. Marketing is important too, and it is more than buying branded giveaways or running contests.
We can invest in all of these areas, but how do you measure the return on your investment? Not having a fancy MBA degree, I am perhaps less adept on the formula for success than some of my peers. What I do have, I inherited from Bill Tuscano – people sense. I get the chance to talk with customers and carriers all week long and after hours, and I am pretty sure I have a sense of the market. My ROI measuring stick is the feedback I get from our customers. You inform us about the conditions in the marketplace, help us to deliver the products and services you need most, and more importantly, you keep us honest and at the top of our game. You push us and pull us and we are always challenged to be better than we ever thought we could be.
As the market starts to turn (of course that is the current buzz on the street) we need to be prepared as capacity drops and prices rise. Of course it may just be buzz and no more, but we are seeing some carriers taking rate and others pulling out of certain classes.
The oil and gas industry is definitely impacting our state. You do not have to write the drilling exposure to be able to recognize the opportunities available to you as a producer. Water trucks, welding contractors, environmental consultants, and motel/hotel accounts are all booming and we can help you write this business. Tried and true vacant properties, daycare centers, and tanning salons are slam-dunk accounts where Tuscano makes it easy to put a quality, competitive quote in your customer’s hands. Restaurants, bars, and taverns are another specialty of the ‘house’ and you can be certain that Tuscano underwriters will get you a quote fast and ‘hot’.
I appreciate the comments and feedback I get from you, no matter what the topic . And yes, we have changed the on-hold music on our phone system!
“May the road rise up to meet you. May the wind be always at your back. May the sun shine warm upon your face; the rains fall soft upon your fields and until we meet again, may God hold you in the palm of His hand.” -traditional Gaelic blessing
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