There are generally two approaches to selling insurance. I have tried both, successfully. First is what I call “size 10 shoe selling.” In this approach you have a product or idea and you tell everyone who will listen, hoping to find someone who will like it and implement the idea. The other approach is consulting. This is where you find out what a buyer needs and what concerns them, and then design a program customized to their situation. Which one works best?
Think about this – as advisors, do we sell problems or solutions? Most audiences I have spoken to think we sell solutions. But do we? When we focus on solutions, the buyer thinks cost. As advisors, we must continue to emphasize the benefits as being worth the cost. I call this adversarial selling.
Problems are painful. If we can help the buyer get in touch with the pain of their problems (some of which they may not have even acknowledged), they will ultimately do whatever it takes to eliminate the pain. People want to be pain-free. When they accept the pain, then the cost of eliminating it is no longer the issue. The issue then is simply whether your solution will resolve the pain.
So if you truly want to establish a lasting relationship with your clients and build a client base that will sustain you for years to come, focus on problems instead of solutions. Become a specialist in the problems common to your market. In doing so, you will become known by the problems you solve, not the solutions you sell. This is the secret to getting referrals.
Are you currently seeking problems or solutions with your clients?
