Sales Tips for Insurance Agents: Sell Value, Not Cost
People Don’t Buy a Product or Service; They Pay for the Results or Benefits It Will Give Them
Mastering the skill of value selling is fundamental for any salesperson, and it is of particular importance to insurance agents. It is a concept based on the fact that customers will buy or pay for the products or services offered because they perceive the benefits from a value that they would not have without what’s being offered.
According to sales trainer Brian Tracy, the value is defined as the difference between the price you charge and the benefits the customer perceives they will get. So, if considerable advantages are evident, the client’s perception of value is very high.
For example, one way of boosting your insurance sales tactics is by incorporating your own knowledge about the types of insurance that you specialize in. Being able to explain to a client how a policy works and what it can do for them from personal experience will add value and an element of trust to the product.
How to Apply Value Selling to Insurance Sales in 3 Simple Steps
1) Identify the Target Customer
Make a profile of your ideal clientele based on age, gender, level of education, income, whether they have a family or not, etc. Knowing who your target audience is for each product you sell is vital to the success of your business.
2) Identify the Customer’s Needs
What can you provide that people are in need of? When it comes to insurance, what they are looking for is safety, protection, and peace of mind by knowing that their assets are secured. If you focus on these benefits and the value they provide, they’ll be happy to pay for it.
However, if there’s no need or problem that can be solved with what you have to offer, it’ll be challenging to market your product.
3) Make a List of All the Insurance Benefits
If people can see what they can gain with a given product, it is easier for them to analyze how it can bring benefits into their life, so don’t hesitate to make a list or graphic as detailed as possible. The more solutions you can explicitly provide to your customers, the less likely they’ll be to object.
Becoming an Insurance Agent with AAI
Affordable American Insurance offers a turnkey business model for a captive insurance agency to transition to the independent world, or for an existing independent agency to have a platform to increase carrier representation and revenue while removing carrier production requirements.
When you get involved in the insurance world, you’ll have a great opportunity to make a difference in someone’s life. Give us a call to get more details about opening your own AAI agency.