Communication about benefits is essential to insurance selling success

Let’s face it. Talking about insurance is boring. You know it. I know it. This isn’t a shocking revelation.

Most people only want to talk about insurance when they absolutely need it or when something bad happens.

Let’s talk about how you can change this.

In a recent BusinessWeek article, “Insurers: Effective Innovators – Almost”, by G. Michael Maddock and Raphael Louis Viton, the authors explain the vital role communication plays in the insurance industry:

“Do you remember how you felt on your first day in chemistry class, when you were being passionately taught something that had no relevance to you at all? What if this is how you are making your customers feel? What if they don’t understand your product? What if the words you are using don’t resonate with them? What if they don’t see the benefits? What if they don’t think your product is worth their time?”

Sure, your insurance business may have a great commercial or a clever tagline, but if your prospects don’t understand the specific benefits you offer or why your products are the best choice for the individual’s needs, you might as well just walk him or her over to your competitor’s doorstep.

People crave information and communication they can understand – especially when it comes to how a product specifically serves one’s financial needs.

Now I’m not saying to talk to your customers and prospects like you talk to your child’s classmates on “Take Your Parent To School” Day, but use language they can understand. Ask questions. If you feel like you’re overwhelming them, take a step back and re-frame your information in simpler terms. The goal here is to make sure your prospect’s questions have been answered thoroughly. Never give them a reason to look for answers from someone else.

Don’t confuse your prospects or keep them searching for more information. You’ll win lifelong customers by clearly communicating what makes you and your product stand out from the rest of the pack.

Have a unique process for how you communicate benefits to your customers/prospects? Please share here!

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