Price is important. Price is often the point of comparison. Price is what most salespeople use to sell their product or service.
Selling on price makes you less valuable. Selling on price undermines your knowledge. Selling on price eliminates your biggest strength………..YOU!
Although I have been aware of this information for many years and do my best to promote my own value proposition, I often get sucked back into talking mainly about price. Why? Price is an easier point of comparison. Quite honestly, you can be lazy when discussing price. You don’t have to bring anything else to the table.
Anyone can sell on price, it takes a true professional to sell on value. We think that our customer always just want the best price. Guess what, they don’t. There will be some people who only care about price. They are not the customers I want. That’s ok, there are many other places to make those customers happy.
Yes, price is important, but how much is an inferior product or service worth even if it costs less?
Would you pay a little more for a hotel if you know that the level of service and quality was exceptional?
Would you pay more for a car that last longer and performs better even if it cost a little bit more?
Would you pay more for a good meal even if it isn’t on the dollar menu?
Most of us would say yes to those questions. Why? Because price is only one part of the buying experience.
We often say price, but really mean value. The insurance industry is one of the most guilty industries on selling price.
So why does the insurance industry push price so hard on TV commercials? Because they want you to think that all insurance products are the same. This couldn’t be further from the truth.
Without sounding egotistical, when you buy from me, you get ME. That includes experience, knowledge, a great team, and a wide variety of insurance product choices. Most importantly, you get a real person who truly cares about your well-being and making sure you are getting the best value possible.
Does that include a good price? Probably. I am sure it is not the lowest, but the lowest price probably means you are getting exactly what you pay for.
Insurance is not a commodity and never will be a commodity. If you have ever had a large claim, you are already well aware of this fact.
My pact moving forward is to stop selling on price. This doesn’t mean price won’t be an issue. I am aware of that, but price is not who I am or what I am about. My goal is to provide the best insurance experience possible for my customers and that is what I intend to do.
Will you join me?