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Sell Value Rather Than Price

Posted by www.psmbrokerage.com Admin on Wed, Jun 29, 2016 @ 08:47 AM

Sell Value Rather Than Price

Value selling says that customers buy your value or service because they anticipate enjoying a value that they would not have in the absence of your product or service. People don’t buy products, they buy the results the product will give them.

Sell the value and the benefit of your product or service to your customer. Focus on explaining and expressing how it works for the customer. If you focus on the value, the price becomes less and less important. If you don’t focus on value, the only thing you can talk about is price.

 

What is value selling?

Now, here’s the research…

 The research says that the value is the difference between the price you charge and the benefits the customer perceives he will get. If the customer perceives he will get a lot of benefit for the price they pay, then their perception of value is very high. So you can control that.

Teach people how much they will benefit, how much your product or service will help them, and all of the things your product or service can do to help them achieve their goals and solve their problems. The more you focus on these values, the less important price becomes.

How to sell value instead of price

Here are a few actionable items you need to do to ensure you’ll get the sale.

1) Who will buy your product?

Ask yourself, “Who is the person who is most likely to buy my product and buy it immediately?”

Then create a customer avatar based on this information. How old are they? Are they male or female? Do they have children? How much money do they make? What is their level of education?

2) Identify your customer’s problem clearly

Once, you’ve done this, you’ll be able to move on to the next step which is identifying your ideal customer avatar’s problem clearly.

What kind of problem does your customer have that you can solve? If you have identified your customer correctly, these people will pay you to solve their problem. Sometimes the problems are obvious and clear. Sometimes the problems are not obvious or clear. Sometimes the problems do not exist for the customer. If the problem does not exist, the customer will not buy your product.

3) Make a list of all your product benefits

Finally, make a list of all of the benefits of your product or service and the ways it will solve your customer’s problems. The more benefits and solutions you can clearly provide to your customers, the less they will be able to deny your product will solve their problem.

I’d like to leave you with a thought: “The more you focus on the value of your product or service, the less important price becomes.”

Source: http://www.lifehealthpro.com/2016/06/23/how-to-sell-value-rather-than-price

Additional Updates:
  • PSM 4th of July holiday hours - View
  • Aetna and UnitedHealthcare have announced their 2017 Medicare Advantage expansion counties. Call 800-998-7715 for details.
  • 2017 Medicare Advantage Certification details - View
  • Hot - Introducing a New Med Supp from Thrivent Financial  - View
  • Hot - Liberty Bankers Life breaks into the Med Supp market  - View
  • Sell Medicare Supplements from virtually anywhere - View
  • FREE Med Supp Online Quoting Tool for PSM Agents - View

Tags: Creating Value

10 Great Ways to Generate Sales Leads

Posted by Guadalupe Cantu on Fri, Oct 25, 2013 @ 07:52 AM

Medicare Supplements Every successful advisor has one thing in common that continue to keep their business growing. They ensure to keep a healthy stream of leads flowing into their pipeline. How do they do keep the influx of leads coming in? Is it a “secret” they keep safely guarded? Below are great lead generation tips successful advisors use to stay on top of their game.

  1. Network. Join a network within your industry and stay active in local business chapter. Become involved in local seminars that speak to potential prospects. Focus on quality of the network and not the quantity. Concentrate on developing referral partners to work with.

  2. Build referrals partners. Build a professional relationship based on trust and reputation with fellow professionals. Ask for recommendations for referrals. Return the favor and see your referrals gain grown.

  3. Build your reputation as an industry leader. Get involved and join a local service association that you may enjoy; such as, the local Chamber of Commerce, insurance professional association or even a church. These may not be immediate sales leads, but can be a great source for the long haul.

  4. Ask your clients. Ask your existing clients to introduce you to one or two people who fit your client profile. Your client may be your most valuable lead generating asset.

  5. Build a foundation. Focused on your goals and develop your personal brand identity: a trusted, well recognizable brand will lead to prospects.

  6. Develop and maintain an online presence. Sign up and make good use of social media outlets like Facebook, LinkedIn and Twitter. Be consistent and post valuable information and promote benefits. Tell prospective leads what you can do for them.

  7. Learn from your competitors. Look at what they are doing and what has been working for them. Implement those methods onto your own organization.

  8. Focus and target your audience. Identify what their needs are. Once this has been determined, then the marketing message and campaigns can be tailored accordingly. Do the same to the other product lines, identify, categorize, customize, and so on. Soon, your hard work will pay-off, and you will see leads building up.

  9. Commit and stick to a plan. Commit...Commit…Commit… It can’t be overemphasized. Always stick to your plan and don’t drift away. Advisors can always build life insurance leads through website, emails, telephone calls, and referrals program.

  10. Invest in lead programs. Invest in Customer Relationship Management systems (CRM) that help manage an organization current and future customer sales leads.

Please give us your feedback!
Question: What steps have you taken to build your sales lead? How has it changed your business?

 

Source: LifeHealthPro

Additional Updates:
    • Assured Life Association/Woodmen of the World
      November 2013 Med Supp rate release for IL, TN, CO, MT, UT. Learn More

      - November Med Supp Outlines for IL. Learn More

      - November Med Supp Outlines for TN. Learn More

      - November Med Supp Outlines for CO. Learn More

      - November Med Supp Outlines for MT. Learn More

      - November Med Supp Outlines for UT. Learn More


    • 2014 Medicare Advantage and Part D Certifications are now available! Learn More

Tags: Referrals, Leads, Creating Value, Professional Networking, Advisor, Sales Leads

Roadmap to excel as an advisor

Posted by Guadalupe Cantu on Fri, Aug 16, 2013 @ 12:48 PM

Medicare SupplementsRunning a business can be a daunting task; even more so, if the business has been running on survival mode for the last couple of years. Everything that has been tried to ensure success has returned nothing but disappointment.

What went wrong? Why is the business only hanging by a thin thread? The business has a marketing plan in place and a large budget to focus on traditional and new media techniques; such as, direct mail, radio, emails, and search engine optimization (SEO). Plus, it offers a wide range of products that the public wants. Yet, nothing seems to work!

For many advisors, it is hard to see that the problem comes from poorly designed marketing campaigns. Too often, advisors are too eager to sell their product. They focus on getting one message out to the masses, and expect to see a great influx of leads to be quickly converted into sales.

Instead, focus on the targeted audience and identify what their needs are. Once this has been determined, then the marketing message and campaigns can be tailored accordingly. Do the same to the other product lines, identify, categorize, customize, and so on. Soon, your hard work will pay-off, and you will see leads building up.

Engage them further, once the prospect has made contact; follow up with a call, invite them to a free event, offer a free report or direct them to informative video feeds on your website. These little actions will help keep the dialogue open and help ease their decision into becoming a new customer.

Just remember by building an effective marketing plan that will allow you to identify prospects needs, match them with the proper product line, and build a system to engage them and follow up, you should be well on your way to the road to excel as an advisor.

Question: Do you feel your business is hanging by a thin thread? Would revamping the marketing approach help your business move in the right direction?


Please give us your feedback!
Do you feel your business is hanging by a thin thread? Would revamping the marketing approach help your business move in the right direction?

 

Source: LifeHealthPro

Additional Updates:
  • Gerber Insurance: September 2013 Med Supp rate adjustments AZ, IA, MI, OK, SD, TX Learn More
    • September 2013 Med Supp rate adjustments AL, KY, and Med SELECT AL, OK, TX Learn More
    • October 2013 Med Supp rate adjustments CA, NC, ND, OH, PA Learn More
    • October 2013 Med Supp rate adjustments WI Learn More
  • Assured Life Association/Woodmen of the World: October 2013 Med Supp Rate Adjustment for OH, WA, and Med SELECT for OH. Learn More
  • 2014 Cigna PDP Training and Certification - Learn More
  • Everence Agent Training Webinar Aug 14 - Learn More

Tags: Insurance advisor, Senior insurance, Sales Tips, Success Tips, Web Marketing Advice, Web Tips, Health Insurance, Referrals, Creating Value, insurance companies, Advisor

Keeping in Touch with Your Most Valuable Asset

Posted by Lauren Hidalgo on Fri, Jul 26, 2013 @ 09:12 AM

Medicare Supplements The most important asset you have as an agent is your existing client base and they are essential to helping you grow your business. By taking the time and effort needed to stay in contact with those clients, your business will grow both by new sales to them through cross-marketing additional products such as Final Expense or Hospital Indemnity, and by their qualified referrals.

Many agents think that keeping in touch with the clients in their database takes too much time, effort and money. However, when you consider the return on your investment the solution is finding ways to communicate that are time-efficient, inexpensive, and effective.

Studies show that in order to keep in front of your clients you need to touch base with them approximately 14 times a year. Luckily, there are many different resources you can use when communicating with your clients. It could be through email, phone calls, snail mail, postcards, birthday and/or holiday cards, or in person meetings. There isn’t necessarily a textbook "best" or most effective way to touch base, but by mixing your communications with a variety of interesting and valuable methods works well.

Though the idea of sending out so many correspondences to each of your clients may sound daunting at first, it’s important to remember that whatever you decide to send doesn’t need to be large or expensive; It only needs to be of value to your clients. Plus, when you keep in contact with your clients a little over once a month you will remain at the forefront of their minds leading to positive reviews and referrals when talking with their friends and family.


Please give us your feedback!
What do you do to stay in front of your clients? Do you find that contacting them at multiple points during the year brings in more referrals?

 

Source: LifeHealthPro

Additional Updates:
  • Lower Med Supp Rates with Higher Commissions - Learn More
  • Stonebridge Life Med Supp: Lower Rates with Higher Commissions - Learn More
  • Gerber Life Med Supp Rate Increase for NV - Learn More
  • OK Agents: Hot New AEP Product for 2014! - Learn More

Tags: Sales Tips, Senior Market Advice, Customer Retention, Referrals, Creating Value, Customer Service, Gerber Life Medicare Supplement, Stonebridge Medicare Supplement, Coventry Medicare Advantage

Make Your E-Blasts Stand Out

Posted by Lauren Hidalgo on Fri, Feb 01, 2013 @ 11:20 AM

Medicare Supplements As you get your marketing plan for 2013 together, one of the things you might want to consider implementing into your business is e-mail marketing. This can be a very cost effective way to reach prospects and connect with them early on. Whether you’ve been e-blasting for years or you are just getting started, here are a few things to use as an outline when putting your campaigns together..

  • Use your prospect’s first name: Most e-blast software has a personalization feature that allows you to use your prospect’s first name. When you use the first name in the subject of the e-mail studies show that a person is more likely to open it. Your message cannot be read if the recipient doesn’t open it first.

  • Be urgent: Use a time sensitive subject like “Webinar Starts in One Hour” or “Be Sure to get this Great Product Now” in order to entice your prospect to open the e-mail and read it.

  • Make it mysterious: Create curiosity by using questions in the subject and body of the e-mail. For example, instead of saying “Twitter is the #1 Social Media Platform” ask “What is the #1 Social Media Platform?”

  • Deliver exclusivity: Give your subscribers preferential treatment. If you just posted a YouTube video, for example, be sure your subscribers are the first to know.

  • Be consistent: Send your e-mails at roughly the same time each day and keep the form consistent. This will train your audience to expect your messages, and make it easier for them to read regularly.

  • Split testing: Curious which campaign will bring the best response? Try doing an A/B test and send one version to half your audience and the other version to the other half. Keep track of the analytics to see which gave you the best response and cater to that going forward.

  • Less (copy) is more: Stay away from writing a long drawn out e-blast. Aim to keep them short, sweet and punchy.

  • Include a P.S.: This could be a call to action, a quote, a statistic, or anything else you could use to grab your audience’s attention.

  • Use a strong call to action: How do you want your prospects to reach you once they are interested? Whether it’s by filling out a form on your website or giving you a call, make sure it is obvious to your audience and easy to execute.

  • Use a picture in your signature: People crave human connection. Consider putting a personal photograph next to your signature to remind your clients the e-mail came from you personally, and not a robot.

Staying in front of your clients is important in this competitive environment. If you have any questions about e-mail marketing, what platforms to use, and where to find templates for your e-blast, feel free to call your marketer at 1-800-998-7715.


Please give us your feedback!
Do you have any other tips to share that you've learned from doing e-blasts? Do you find they are a good way to keep in front of your clients?

 

Source: Senior Market Advisor, LifeHealthPro

Additional Updates:
  • UnitedHealthcare February Training Calendar - Learn More
  • ND Agents: Stay Competitive with Low Med Supp Rates - Learn More

Tags: United Healthcare Medicare Supplement, Senior Market Advice, Web Tips, technology, Creating Value

The AEP is Finally Here - Are You Ready?

Posted by Lauren Hidalgo on Fri, Oct 12, 2012 @ 11:18 AM

Medicare SupplementsOnly the weekend stands between us and the Annual Election Period which begins Monday, October 15th. Hopefully you've been spending the last few weeks taking your certifications, getting your resources together and finalizing on your business plan so you’re ready to go. If not, there's still some time left to capitalize on the busiest season in our market but you need to begin now. It is nearly the final hour; don't be left behind this AEP.

Here are a few final reminders of things to complete as soon as possible to have the most effective season.

PSM is dedicated to offering our agents support this AEP. If you have any last minute questions or concerns please be sure to contact your marketer at 1-800-998-7715.


Additional Updates:
  • Gerber Life Med Supp Rate Increase for LA & WA - Learn More
  • Important Agent Advisory - Identity Theft Involving Agent Identification - Learn More
  • New Combined Insurance iPad Giveaway - Learn More
  • Medicare Advantage and Part D 2013 Certifications - Learn More

Tags: Annual Enrollment Period, Sales Tips, Combined Insurance Medicare Supplement, Medicare Advantage News, Creating Value, Gerber Life Medicare Supplement, Annual Election Period

The 5 Success Disciplines

Posted by Lauren Hidalgo on Fri, Aug 31, 2012 @ 01:20 PM

Medicare SupplementsSuccess - the definition is different for everyone. However, the one thing that nearly everyone can agree on is that they want to be successful - whatever their definition. A common trait among all successful people is self-discipline; this allows them to keep the commitments they make to themselves and take action on the things they want to change. Successful people understand that good intentions mean very little in the long run. Actions are what make the difference in creating positive results.

When it comes to sales, there are five ways to take action requiring a thoughtful, disciplined approach.

  1. Prospecting – Immediately your sales results will improve if you apply self-discipline to the process. With disciplined prospecting, salespeople with little to no sales skills can perform as well as those with greater abilities. Through disciplined prospecting you give yourself more opportunity to be successful and those efforts are will generate long-term, positive results.
  2. Nurturing – This opens up the relationships that offer opportunities to attract your ideal clients. When you create value for your prospects, without requesting anything in return, you are nurturing prospects who will turn to you when they need your service. Whether by education, ideas, or solutions to their problems keeping in contact with prospects will pay off in the end.
  3. Following Up – Your prospects are judging you. They notice when you keep your commitments, and they notice when you fail to. Following up is not just hitting “send” on the email you promised; it’s also the discipline of doing high quality work over an extended period of time. When you practice the discipline of follow up you will show your prospects you are someone who can always be counted on.
  4. Improvement – Once you earn a prospect’s business and they become a client you must continue to improve your relationship with them. Improve what you do for your clients every quarter, share with them the value you are creating, and let them know about any changes happening in the future. Keeping in touch with your clients will keep them happy, solve any concerns they might have, and allow you to request referrals to grow your business.
  5. Personal Development – Success means becoming the very best version of you. Continue to educate yourself on your industry and look for new ways to improve your business. Whether it be through trade publications, conversing with colleagues, or product and industry webinars, keep sharpening your saw to improve your skills and stay ahead of your competition.

For more tips on self-discipline and success, please give your PSM marketer a call at 1-800-998-7715.

Medicare Supplements Precision Senior Marketing will be closed Monday, September 3 for the Labor Day holiday. Regular 8am-5pm CDT hours will resume Tuesday, September 4. We wish you and your loved ones a happy holiday. We appreciate your business and the opportunity to serve your needs.


Please give us your feedback!
How has self-discipline helped your business? What tips for success would you offer others just starting out?

Source: LifeHealthPro

Additional Updates:
  • Find New Clients at Zero Cost with In-Store program - Learn More
  • Gerber Life Med Supp Rate Increase for DE & TN - Learn More

Tags: Sales Tips, Senior Market Success, Customer Retention, Creating Value, Customer Service, Gerber Life Medicare Supplement

The Art of Selling: Improve Your Closing Ratio

Posted by Lauren Hidalgo on Fri, Apr 20, 2012 @ 09:06 AM

Medicare SupplementsThis is the second in a series of articles which focuses on: Appointment Setting Essentials, An Education Based Sales Presentation & Do the Right Thing - Earning a Customer is More Important than Making a Sale.


  1. Lead Pre Qualification - After receiving a lead or referral, make sure you are gathering all pertinent client information that could influence the sale. Proper lead pre-qualification is commonly overlooked and can have a large impact on your closing ratio. Your time is valuable and should not be wasted with clients that cannot qualify medically or are not in the buying process. We’ve drawn up a Sample Lead Pre-Qualification Form for you to review.

  2. Value Based Selling - If you’re selling strictly on price, you’re inevitably teaching your clients to leave you. In a residual based marketplace, this can be extremely detrimental to your revenue stream. Here are a few things to consider incorporating into your sales philosophy:
    • Educate your client on their options and empower them to make the choice that is best for them. Don’t sell them anything.
    • Let your client know that rates are going to increase annually, especially in the Medicare Supplement and Medicare Advantage markets, and not to be alarmed when they are notified of a rate adjustment in the future.
    • Be proactive. Call your clients when you get notification of a rate adjustment; don’t wait for them to call you. By proactively calling your clients, you can let them know the rate adjustment was moderate and, based on the current market landscape, they still have one of the best products available in their area.

  3. Earning a Customer is More Important than Making a Sale - Situations will arise, no matter how many carriers you represent, in which the best coverage for your client will be with one of your competitors. In these situations, it is in your best interest to communicate this information to your client and provide them with the contact information to purchase coverage through the other carrier. If you sell the client a policy that’s not in their best interest just for the sake of making a sale, these clients end up being more of a headache than it’s worth. Not to mention they’ll tell everyone they know not to purchase insurance through you. On the other hand, if you do the right thing and help your client get the proper coverage, they’ll happily refer several people to you because of how you conduct your business. Word of mouth can be the best or worst advertisement for an insurance agent. Do a good job and clients will tell 3 of their friends, do a lousy job and they tell at least 10.

Last week’s article covered the Presale Basics: Dressing for Success, Proper Hygiene and Appearance and Punctuality.

Next week’s article will cover Increasing Your Closing Ratio, Cross Marketing Opportunities, How to Obtain Referrals and Technologies to Help Grow Your Business, primarily with CRM and website development.

 

Additional Updates:
  • Woodmen of the World Address Change & Material Updates - Learn More
  • Assured Life Med Supp Rate Adjustment for AL, OK, and Supp/SELECT for TX - Learn More

Tags: Sales Tips, Senior Market Success, Customer Retention, Assured Life Medicare Supplement, Woodmen of the World Medicare Supplement, Creating Value, Customer Service

Medicare Select - Are sales opportunities passing you by?

Posted by Lauren Hidalgo on Fri, Mar 23, 2012 @ 10:18 AM

Medicare SupplementsMedicare Select is one of the best kept secrets of today’s top producing agents. Medicare Select offers all of the great benefits of a traditional Medicare Supplement but costs approximately 15% - 20% less. Your clients are able to visit their doctor of choice, without the need for approval or pre-certification. If hospital care is needed, your clients may visit any of the hospitals that are affiliated with their Medicare Select Insurance policy, anywhere in the country*.

Medicare Select is an ideal option for seniors living on a budget, as the yearly savings could go a long way toward cost of living expenses. For example, a 75 year old woman in Florida would spend $2,152.35 on her Medicare Select plan instead of $2,457.22 with a Plan F Medicare Supplement, a $304.87 a year savings. Many of your clients already use a hospital affiliated with the Medicare Select network, this is the perfect opportunity to help reduce their healthcare premiums!

For more information on participating hospitals and Medicare Select sales opportunities, please go here Medicare Select Information Request or call a marketing representative at 1-800-998-7715.

* This insurance plan utilizes a network of participating hospitals. In the absence of emergency confinement, you must use one of the network hospitals.


Please give us your feedback!
Do you sell Medicare SELECT? How do you incorporate it into your sales presentation? Are you clients receptive to the SELECT product?

Additional Updates:
  • Final Notice to Contracted UnitedHealthcare Agents - Learn More
  • Important Notice to Contracted Mutual of Omaha Agents - Learn More

Tags: United Healthcare Medicare Supplement, Medicare Sales, Creating Value, Mutual of Omaha Medicare Supplement, Medicare Select

Here's to a Prosperous 2012!

Posted by Lauren Hidalgo on Fri, Dec 30, 2011 @ 09:46 AM

Medicare SupplementsHappy New Year! We at Precision Senior Marketing want to take this time to wish all of our agents and their families a happy holiday season. We appreciate your business and the opportunity to assist you in your senior market endeavors. As always, we are committed to bringing you the most competitive products with personal service from our dedicated staff. In 2012 we have several new and exciting products coming to market that we look forward to adding to your portfolio.

If you are new in the senior market let 2012 be the year you expand your business to include Medicare Supplements, final expense, and annuities. Give PSM a call at 1-800-997-7715 to get started

Here’s to a successful and prosperous 2012!

Additional Updates:
  • Assured Life Medicare Supplement Rate Increase for NE - Learn More
  • Heartland National Life Rate Increase Notification NE & MO - Learn More
  • Sentinel Life Personal Choice Annuity New Rates - Learn More

Tags: Senior Market, Assured Life Medicare Supplement, Heartland National Medicare Supplement, Creating Value, Sentinel Life Medicare Supplement

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