When you compete on price you lose. You don’t want a business full of price shoppers because they’re invariably your worst clients, so why would you ever want to intentionally attract them? Yet when you offer to quote someone insurance that’s exactly what you’re doing. Send the price shoppers to the internet or your competition for quotes, but don’t let them bother you. When you quote a price don’t you make that quote based on the assumption that the customer knows exactly what they need and why? And how often is that really true? Do yourself and your prospects a favor by refusing to quote prices.
If 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.
Start thinking beyond yourself and what you offer to what your clients need and how that extends beyond you. Who could you join forces with or how could you extend your services to meet those needs? Your something more will be unique to target market. Let’s say your target market is young parents. It’s no secret parents are very concerned about the needs of their children. You may already protecting their assets and helping them to fund their children’s college educations. What if you partnered with a toy store so 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 taught them a life skill?
Are you envisioning what could happen? You’ve just set yourself apart as the better choice. Plus as you partner with other businesses helping them to get exposure and off-set any expenses you might incur you’re both getting exposure to a whole new set of people. Your added value services are deepening your relationship.
As you add value you’re not only deepening the relationship with the parents you’re deepening the relationship with the children too. And when 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? This is a plan for smart marketing now, and you have a built in viral referral system.
When 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?
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