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Differentiate Yourself From The Competition

January 06, 2020 / Category: Insurance Agents

agent-recruitment

Today, prospects seek personalization, and expertise in their advisors. Clients want to work with someone who they trust, who looks for the best interest of his clients.  An advisor who listens and understands the needs of his clients, and takes actions that will be for the best interests of his clients. As Zig Ziglar famously was quoted saying: “You can have everything in life you want if will just help other people get what they want.” Market yourself in a way that showcases your core abilities. Win your prospects’ trust and loyalty by surpassing their expectations.  That’s what top consultants do.

Create your own brand:

An image that associates YOU as having a superior level of quality, credibility, and satisfaction in the prospects’ mind. It’s not easy to stand out from the crowd unless you know the formula for success.

Your goal is to connect with your prospects and make them want to do business with you.  Think outside the box, offer creative solutions that will captivate their interests and keep them asking for more.

Successful advisors have several features in common.  They are focused, they have a clear vision; they are focused and motivated on achieving their goals and success.   

Having a clear vision prevents deviation. A good starting point is to define what area you will focus on as an advisor.

Quality of Products and services

The Ritz-Carlton, Rolls-Royce, Nordstrom, Northern Trust; all have one common denominator.  Their products and / or services are over the top when compared to their competitions. Not only the quality of your products and services must be superior to your competition, but the delivery of those products and services must be better, as well.

Understand your audience and their expectations

Once you have selected your areas to focus on, it will be easier for you to define your targeted audiences.  Prospects listen to only one station, WIIFM (What’s In It For Me.) You must see issues through your prospects’ lenses, not yours.  Understand their pains and concerns from their perspective, and help them to come up with solutions to advance their cause(s). Once you have acquired the knowledge to answer their concerns, meet their expectations, you will become their trusted advisor.  Delivering to your prospects what they want, meet their expectations and serve them with complete satisfaction, is the key to becoming a successful and trusted Advisor.

 Make sure to sell not only to the decision-maker but to the influencers as well

As salespeople, we tend to focus directly on the decision-maker.  After all, he/she holds the purse and writes the check. Today a lot of decisions are made by committees of one, two, and more.

Gatekeepers:

DON’T underestimate the power of the gatekeepers.  There is a reason they are called gate-keepers, and they often are an important integrated part of the decision-maker inner-circle. 

  •         Do your homework; learn as much as you can about the gatekeepers.
  •         Find something in common with the gatekeepers, establish credibility.
  •         See if you can find info through social media and other avenues.
  •         Use the gatekeepers as an ally.  Ask relevant questions to show that you value this person’s position vis-a-vis the decision-maker.  

o   I see that:

  • Your company launched a new product/service, what do you think about it? And how involved were you in the launching of it?
  • A member of management has been promoted, how long has that person been with the company, can you tell me about him/her…?
  • How long have you been in your position (with the company?), and what is your position regarding…… (If the gatekeeper has been in the position for a while) the gatekeeper may have an opinion.  People like to be listened to. By listening, you’ve become a great conversationalist (even though you might have said nothing.)

Influencer(s):

Their positions are more concealed than that of the decision-maker, but they have a tremendous amount of influence on the final decision. Influencers very often are the ones needing your services.  They may not sign the check, but they have the power to delay, to resist, and to break the deal. Don’t neglect them.

  • Meet with them; ask probing questions as if you were selling them your services.
  • Show them how your services will solve their concerns.
  • At a meeting, engage with them.

o   Questions to ask:

  • How this service would affect you and your department?
  • Is there something you wish for me to go over particularly that would affect your department?
  • Everyone in any company is concerned about making the wrong decision.  People tend to take the path of least resistance and decide not to make any decision.  Ask the influencers if your services will increase their (Return on Investment, ROI), and more…

Years ago, I was involved with a prospect, and he decided to invite several people at the meeting, his assistant, and his employee manager.  After some pleasantries, I started to engage with the Decision-Maker and completely forgot to engage the assistant. I lost the deal. Why? I did not engage with the assistant during the meeting and did not realize that the assistant knew more about insurance and how to run the company financial issues than the owner.   

Respond to your prospect’s concerns? 

  • What type of assistance do you bring to the relationship?
  • Prospects care only about themselves (WIIFM what’s in it for me)
  • Prospects come with pre-determined ideas; demonstrate how your products and services will improve their present condition.
  • Emphasize your products or services as an investment.
  • Convince not only the decision-maker but any influencer.
  • Don’t forget your clients after the sale (stay in touch with them.)
  • Your best customer is someone else’s best prospects

 Continue to upgrade your credentials

To stay competitive and ahead, continue to upgrade your credentials. This helps build credibility. The more credentials you have, the better of an asset you are to your clients.

Share your knowledge

Know your targeted industries thoroughly; be willing to share your knowledge.  Expand your knowledge among your target markets, enhance your education, increase your credibility, and trust, you will eventually convert prospects into raving fan clients and sources of referrals.

Wishing you the best closing opportunities.