The Power of Being a Resource to Clients – Longevity
Zack Lewis : September 12 2020
No one likes to feel that he or she is being sold some-thing or told to do a thing. We much prefer to feel that we are buying of our own accord or acting on our own ideas. We like to be consulted about our wishes, our wants, our thoughts. – Dale Carnegie
There are some fantastic tools on the internet that Medicare professionals can leverage to help guide customers in making their own informed decision for their coverage. This type of selling has proven to increase conversion and retention rates to create customers for life (which is particularly valuable with products that pay residuals). David Priemer at Cerebral Selling has built a reputation for this type of sales coaching and demonstrates statistically the impact it can have on your business in his new book “Sell the Way You Buy”.
The Glengarry Glen Ross, Wolf of Wall Street, or Boiler Room mentality towards selling is antiquated.
No one likes to feel sold or that the salesperson had the jump on them – there tends to be less “buyers remorse” when they feel they made an informed purchasing decision. In today’s era consumers have more access to information than ever before including peer reviews on how we’ve helped other customers like them – the age of education-based selling is upon us.
Research conducted by poofnewsales.com showed that 90% of people report being influenced by reading positive online reviews. Whatsmore, of these people, 88% of people trust online reviews as much as a word of mouth recommendation from a friend.
Education sells. Being a resource to our customers sells. The feeling that we care about the interests of the customer and serve as a valuable resource to them for making their own informed decision is intoxicating.
In another report by Spotlight Conductor – “Educational content makes consumers 131% more like to buy. Consumers who read educational content from a brand before purchase were more likely to convert.”
The proof is in the pudding.
How do we become a resource?
There are a few options to do this
- Content marketing
- Webinars and Events
- Educational based selling
Much has been discussed on the first and second, but the third seems to be much harder to find – especially in Medicare. In fact, a report by the Kaiser Family Foundation reports that one in three Medicare beneficiaries report difficulty understanding the program or comparing coverage options, and most do not use Medicare’s official information resources.
It’s true, the information for making comparisons for Medicare coverage is all over the place and seemingly almost deliberately confusing for a professional let alone a consumer.
But as the resident expert, showcasing the information that allows them to make an informed decision pays dividends beyond the initial sale. This includes retention and the holy grail of asking for referrals and online reviews. It’s much easier to ask for a review when your client feels genuinely appreciated and comfortable with the decision they made working with you. And as we mentioned earlier, 88% of people trust online reviews as much as a word of mouth recommendation from a friend. One review may not sway the masses who happen upon your site, but the compound interest from asking each client you work with will ultimately generate serious ROI over time.
By becoming a resource, we differentiate ourselves from our competitors by:
- Growing our online presence and credibility via reviews
- Growing our referral base with “raving fans”
- Increasing sales
- Increasing the lifetime value of a client
- Genuinely of service to our community and earning an income in direct proportion to that contribution
For more valuable insights about Medicare technology, check out our blog at https://stackboost.io/blog/
P.S. I started a LinkedIn group called “Success-With-Tech for Health Insurance Agency Owners” where you can ask tech questions and get answers from experts and other agency owners experiences. If you’re considering putting some of these strategies into action and want some feedback before buying any new fancy toys, ask and ye shall receive the feedback you need.
The Best is Yet to Come…