Click Here for a FREE Quote!

CLICK HERE FOR A FREE QUOTE! Does your website say that? Another question is who charges for a quote these days, if any days ever? The point I'm getting at is the person who clicks on this offer is not the client you want. Why not? Because they will walk across the street next year to save a buck. 

Let me give you some practical examples. I went to Shake Shack yesterday for lunch. When I walked in I didn't see the employees wearing buttons that read "Ask me about the price of a cheeseburger". I didn't see large signs emphasizing the prices of their products. Rather, they used their marketing opportunities to describe how unique and delicious their burger's taste. Their website is the same way. When people talk about this restaurant they don't say, "They're so cheap, you have to try their 99 cent menu!"

Raise your hand if you love Chipotle <raises hand>. Chipotle lists how each meat ingredient was raised and handled under their menu descriptions. Free range chickens that were never exposed to the stressful pins that OTHER chickens lived through before being placed on a Value Menu. The "OTHER" part isn't stated, rather inferred. Pork products from local farms. Cattle that are naturally raised. Some people appreciate the social significance of where their dollars go. 

Now that I've predetermined where you will eat lunch transition to car dealerships. I leased an Infiniti in 2008 over a Mercedes and a BMW because the dealership offered me free car washes anytime and access to a loaner car while they washed it (and it was the first model I could plug my iPod in to). When I told the guy at Mercedes what I was offered at Infiniti he said, "Yeah, but you don't get that 3 pointed star on the hood of your car." Wow. Is that how the alphabet agencies sell insurance? I leased the Infiniti. 

Please take a moment to pass judgement on "Rob the consumer". Then ask yourself this, "Is Rob the kind of client I would like to have?" I am attracted by value & quality. Do you want clients that are attracted by value or would you prefer clients attracted by price? If you said price you should stop reading this blog forever.

If you want clients that are attracted by solutions & value then you need to market to these types of prospects. Start with your website and the message it sends:

• When was the last time you refreshed your website? This should be done every 3 years. If your website isn't current it means you're not current. You need to be current because PPACA changes regularly and people have to trust that their broker knows how this act affects their unique business.
• New content is recognized by people who are shopping around for a broker. They will look at your website and your competitors website multiple times before even picking up the phone. This is your resume before you get called for the interview. Some brokers keep it fresh by adding streaming news updates for compliance or ACA.
• Highlight your strengths. If it's small employer groups then say that. If it's large employer groups say that. If it's self funded say that. "But we service all of those groups." One self funded group an entire practice is not made.  
• Advertise solutions and how you will solve their problems. Businesses are commonly challenged with Cobra administration, rising health care costs, and compliance. If you have solutions for their challenges then they need to know. 

A new brochure website in NYC probably runs $5K. A website with Flash and lots of pages is probably $10K. Start by researching your competition's website. Then make a list of what you like and what you don't like. 

Once you've updated your website and have a clear message, then you can begin driving perspective clients to it. A couple of effective ways are through online ads and email campaigns. But the most popular method seems to be SEO. 

-R

The Value Proposition (or why someone should do business with you)

Rob's Diner: If you like slow, rude service and bland food stop on by. We're open 3 days a week for your convenience.

Rob's Auto: We guarantee that if you bring your car in we'll find something to charge you for even if nothing is broken. That's our promise.

Rob's Insurance: At Rob's Insurance our #1 concern is making a commission. We're not known for our customer service and we wouldn't call ourselves "experts". But one thing we will do is answer our phone when you call, unless we don't because we're playing golf.

These are bad Value Propositions.

A good Value Proposition is going to tell your prospective customers why they should choose you over your competition. Let's go back to the diner example for a moment. Regardless of the occasion we all have our minimum expectations when dining out: a prompt greeting, a clean restaurant, food prepared as described and ordered. For a restaurant to stand out among their competition they need to talk about something other than what is expected of them.

In the world of business insurance this is no different. Decision makers have basic service expectations of what their P&C broker or Benefits broker should be doing for their business. Let's look at some of the things clients expect:

• Ability to negotiate with the carrier
• Excellent customer service
• Understanding of their business, industry, and policy

These are the minimum expectations of business owners and decision makers today. That means for a broker to have higher retention than the industry average (90%) and bring in new business they must do MORE than the minimum. If your Value Proposition sounds anything like "We provide the best customer service and are experts in getting you the right coverage at the best price!" you're probably not getting a lot of referrals. 

If you want to enhance your Value Proposition so that your clients give you more referrals and you spend less time asking people to let you give them a "FREE Quote!" take a look at your service model. Start by identifying your strengths & weaknesses. If you're not sure what your strengths are send your clients a survey. Then assess your competition's strengths & weaknesses (check out their website). What do you do better than them? What do they do better than you? Then take a look at the business challenges of the clients you WANT. Provide them with a solution to their problems and you've got a strong Value Proposition.

You may find that you already have resources internally to provide solutions that your prospects want. If you don't you can hire an employee to do it or bring on a strategic partner or vendor. Start by looking at your associations that you pay thousands of dollars a year to be a part of. They vet and recommend lots of different service providers who also have great Value Propositions. 

Once you have a strong Value Proposition you need to shout it from the roof tops! Make sure every single customer facing employee can recite it on demand. Go on meetings with all of your producers so you can give them feedback and coach them to your new expectations. Make this a part of your culture and embrace it from the top of your organization all the way down to the summer interns.

-R

The Blocking and Tackling of Sales

Let's start with something really simple, goal setting. If you want to be successful in sales you need to set and meet goals. The purpose of the goal is to motivate you to stay focused on your strategy. This can be applied to selling insurance or technology or tires. Here is how you do it:

1. Develop a Value Proposition: What is it that you do or make and why is it superior than the competition? We do _____ better than everyone else because _______.
2. Identify Your Prospects: Who are your potential customers? Make a list based on industry, location, annual sales, or any other demographic that helps you organize them.
3. Set Goals for All of Your Metrics: How many sales do you need to pay the bills? How many opportunities to get 1 sales? How many meetings to identify 1 opportunity? Finally, how many cold calls to get a meeting? 

I set many small goals on a daily basis to help me stay focused. I have goals for my personal fitness program. When I lived in Florida I would run 5 miles a day, 3 days a week. This helped me burn calories, but more importantly it built up my cardio for playing soccer. Now I live in NYC and soccer is viewed more than it is played. I now hit the weights, to manage my weight, 3 days a week.

When it comes to my job as an inside salesperson, I have many goals. Some of them are set for me and others I set for myself. My success starts with my cold calls. To hit my financial goal, I know that I need to make at least 150 cold calls per month. This is because I know how many cold calls it takes me to get a meeting, how many meetings before I can open an opportunity in my pipeline, and how many opportunities I need to get a sale.

Your first goal should be to set some goals.

-R