What Can You Compete On When Price Is Out Of The Question?

When your prices are the same as the guy down the street, it can seem impossible to “stand out”. But think of it this way: in most businesses all they compete on is price (or “great service”). Those are good for the customer, but when everyone’s shouting the same words, you eventually stop hearing it. It becomes impossible to pick out one competitor from the next. But people keep on shouting about their low prices because that’s what everyone else is doing.

As a health agent, price doesn’t factor in. You’ve got the same prices as Joe Competitor. But you still need to be careful about falling into this marketing trap. In your ads, and on your website — don’t repeat what other agents are saying, just because they all do it.

What can you say that’s different?
You’ll have to be creative here, because it often feels like all the good ideas are already taken. But chances are the other agents are all repeating the same two or three things over and over again.

Do you represent more carriers, and can whip out a plan for anyone under the sun? Or guarantee customers can compare plans and apply in 30 minutes or less?

Make yourself stand out by developing a niche market.
Look at your customer base and ask yourself, “Who are they made up of primarily?” Is there a common profession, gender, life stage, hobby or interest among them all? Develop a message round that. “Joe Insurance, the guy Realtors Trust”

Partner up with another local business and refer each other clients.
For example, you could offer free gym trial memberships to everyone that gets a quote. These are readily available by most gyms — they’re always looking for ways to bring in more bodies. They in turn can put your flyers in each of their clients’ statements, post them on bulletin boards, or have your brochures with the right imaging at the front desk.

Whatever you decide on, it still has to resonate with your customers’ needs. You could be the only agent offering free ice cream with every policy — but that won’t make much impression on prospects who are looking for convenience, choice, and professional advice.

Scott Sullivan is Vice President of Broker Sales at ProspectZone, where he forges strong relationships with successful agencies and insurance carriers nationwide. His team works with agents across the country and educates them on how to implement technology and lead generation into their daily routines. He welcomes feedback at ssullivan@prospectzone.com

Need some advice on how to close leads? Get your questions answered right here in the ProspectZone newsletter by our own sales expert, Scott Sullivan. Submit your sales questions to experts@prospectzone.com. One question a month will be selected and featured in the newsletter.

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