If your product could be found at different channels and at the same price then you MUST different your selling point through other methods.
In the last article I shared about how I was able to touch upon the right people, as result increasing the number of brochures that I was able to pass out to people at the trade shows and seminars. However, I was unable create enough incentive for people to stop and listen listen to my sales pitch.
An insurance product is an intangible product. Unlike tangible products such as books, toys and furniture that are displayed at the maternity trade show. Furthermore, making it even less interesting is that the product could not be enjoyed. Intangible products like a massage, haircut, music concert could be enjoyed immediately; an insurance product could not, making it very hard to be interesting.
Besides being boring, insurance product could also be found everywhere on the market. Every insurance agent / insurance broker could carry the same insurance product and at the SAME standard price. Therefore price manipulation is out of the question. With that being the case, I know I need to differentiate myself though my service. I need to persuade the potential customer that I was able to come up with a better insurance plan than other agents. To achieve a better insurance plan by hand picking the most suitable product from each insurance company for my customers. However, before I could do that I need to be able to stop the people at the trade show. I need to have them give me 5 minutes of their time for me the explain what I have to offer.
After giving it much thought, I came to a conclusion that it is impossible to do so. Therefore, instead of creating the incentive for people to give me a few minutes of their time, I need to create and scenario where people are forced to listen to what I have to say, whether they like it or not.
To force people to listen to my sales pitch, I decided to visit the brick and mortar stores on the streets. By walking into the store, during vacancy, the store owner or employees has to listen to my pitch since they have nowhere to go. "They are stuck"! Even if they are reluctant to listen to what I have to say, they have to accept the product brochures from me.
The result was better than before when I was distributing the brochures at the MRT station and at the maternity trade show. I have solved the two issues from before
People do not like receiving things that they are unfamiliar with. Maybe its because the fact that people are unsecured about what will happen next if they accept my brochure. Will I continue to bother him? Its the WHATS NEXT that scares people off.
Issue Solved - Whether people are familiar or not, whether if they are insecure about what will happen next, I am there to stay for a few minutes and my target audience have nowhere to go
People are able to get away from me since its an open area, and they are already on the move (makes it even easier)
Issues Solved - My target audience are at the store to work, therefore they can't get away from me until I leave
Even though the result was better, it was still not good enough. This lead me think of the to the next issue, that is "Trust". Due to the nature of the insurance product, trust is very important. I'm not selling a toy or a book that does not really require after sales service. After selling an insurance product, after sales service is very important. So, how can I create trust with strangers that I have just met?
In the next article I will discuss how to create trust with people that I have just met
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