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The Commodity Business is a Bad Sales Technique

 
 
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The Commodity Business is a Bad Sales Technique

This Business Article is Brought To You By - Cheryl A. Clausen

When you compete on price you lose. You don't want a business full of price shoppers because they're invariably your worst clients, so why would you ever want to intentionally attract them? Yet when you offer to quote someone insurance that's exactly what you're doing. Send the price shoppers to the internet or your competition for quotes, but don't let them bother you. When you quote a price don't you make that quote based on the assumption that the customer knows exactly what they need and why? And how often is that really true? Do yourself and your prospects a favor by refusing to quote prices.

If you don't want to be a commodity that means you have to find a way to provide added value. The customer gets what they need through the products you provide, that anyone else can provide too, but you add more to the package that makes you stand out. It's because of that something more that they can't get just anywhere else that they're loyal to you.

Think past you and what you offer to what your clients need that extends beyond you. Is there a way for you to join forces with another business owner to extend your services to meet those needs? How you add something more to your services will be based on who your target market is. Young parents may be your target market. You know that parents are very concerned with the needs of their children and you may already be helping them to protect their assets and fund their children's college educations. Could you partner with a local restaurant whose target market is children so that your clients got a discount, sponsor family centered events that are only available to your client's families, and could you remember each child's birthday with something that was specific to their current interests?

Are you envisioning what could happen? You've just set yourself apart as the better choice. Plus as you partner with other businesses helping them to get exposure and off-set any expenses you might incur you're both getting exposure to a whole new set of people. Your added value services are deepening your relationship.

In this example, you're not only deepening the relationship with the parents you're deepening the relationship with the children too. As those children grow up and have children of their own won't they want their children to have the value of having you as their insurance sales agent? So, you not only have a plan for smart marketing now, but you have a built in referral system.

As you can imagine as your customer's little kids get these neat things they're going to tell their friends. And their little friends are going to ask their parents why they can't have these things too. McDonald's has proven the power of this marketing strategy why couldn't it work for you too?

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  • Author: Cheryl A. Clausen can help you get unstuck. Improve your Sales Techniques, get her free ecourse. Increase your sales today through Sales Coaching, check this out.
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