Insurance Sales: Aren't You Selling Money At A Discount?

Aren't you selling your service rather than a product? So what are you doing marketing products? Stop trying to market or sell products and start increasing your sales.

Dan Kennedy talks about the technique of selling money at a discount. And that’s exactly what you should be doing, but you’re approaching it all wrong. You’re using the approach of let me quote your insurance, and approach has low interest and low value. When you should be using the approach of selling money at a discount.

I know this may be confusing to you at first so let’s make things clear. First, you should never ever try to market or sell yourself based on intangible products known as insurance and investment instruments. You don’t have exclusive access or rights to any of these products, so when you try to sell yourself based on them you’re nothing more than commodity.

You are selling a service and you’re selling your particular service. Any of your competitors can get your prospect an equivalent product. You have to convince your prospects that you can get them exactly what they need and save them significant money while doing it.

Saving significant money doesn’t necessarily mean a lower price quote. A price quote is a shoddy way of doing business because you know you may have a better quote because you aren’t providing equivalent coverage or appropriate coverage. That means you have to understand what the prospect wants and what they need in order to serve them well.

You have case studies that you can use to tell the story of what happens when the right people have the wrong coverage and investments. The problem is you use those stories in relation to a product when you should be using those stories in relation to a desired outcome. Position yourself as an insurance advisor rather than a sales person.

As an advisor your focus is on getting the prospect what they want not selling them something. And while you’re helping them to find the solution to getting what they want you’re also increasing your insurance sales because who else would they buy from.

As their advisor you can show your prospects how the solution you recommend pays for their purchase. Now anytime something pays for itself you buy it, don’t you? Of course you do. Why else would people buy energy efficient appliances and boring stuff like insulation?