Insurance Sales: If You're in the Commodity Business Get Out!

There's plenty of competition for the price shoppers, and you don't want to play that game. Price shoppers are the worst clients you could ever ask for, so why would you ever want to attract them? But that’s exactly what you’re doing when you offer to quote someone insurance. n nLet the price shoppers search the internet or bother your competition for quotes, but don’t let them bother you. There is a very good reason for both you and the customer for not simply quoting a price. Isn’t it true that when you quote a price you’re making a quote based on the assumption that the customer knows exactly what they need and why? And how often is that really true? nnIf you don’t want to be a commodity that means you have to find a way to provide added value. The customer gets what they need through the products you provide, that anyone else can provide too, but you add more to the package that makes you stand out. It’s because of that something more that they can’t get just anywhere else that they’re loyal to you. nnThis requires thinking past you and what you offer to what your clients need that extends beyond you. How can you join forces or extend your services to meet those needs? That will greatly depend on who your target market is. n nAs an example, you may have young parents as your target market. Young parents are very concerned about the needs of their children and you may be insuring their assets and helping them to fund their children’s college educations. But what if you partnered with a day care so that your clients got a discount, sponsored family centered events that were only available to your client families, and remembered each child’s birthday with something that increased their safety? nnDo you see what could happen? Now there are far more reasons to do business with you than another person. You can partner with other businesses so they get exposure and help off-set any expenses you might incur. Plus you’re deepening your relationship. nnIn this example, you’re not only deepening the relationship with the parents you’re deepening the relationship with the children too. As those children grow up and have children of their own won’t they want their children to have the value of having you as their insurance sales agent? So, you not only have a plan for smart marketing now, but you have a built in referral system.nnWhen those little kids get these neat things they’re going to tell their friends. Their little friends will whine to their parents that they want these things too. It worked pretty powerfully for McDonald’s why couldn’t it work for you too?n