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  • Writer's pictureSteve Pieroway

Part 2 of WHAT AM I SELLING (OR WHAT ARE BROKERS BUYING)?

Confidence.

 


That’s what I sell.


What I do is help brokers and producers build their brands. What I sell is confidence.


(If this sounds familiar, it’s because it is. Charles Revson, founder of Revlon, once said,"In the factory, we make cosmetics. In the drugstore, we sell hope.")


I don’t know about you, but for me, confidence in marketing and selling comes from a place of understanding:


  1. Who I am,

  2. Who my ideal clients are, and

  3. How I can uniquely help them.


When what you are selling is ‘you’, then you need to be pretty damn clear about what ‘YOU’ is.


Marketing a service is inherently different than marketing a product. Products have features, benefits. You can touch them. See them. Test them. Bring them back. There are guarantees.


The risk is minimal. And you may have to watch some advertising or influencers on TikTok, but you likely won’t have to listen to a sales pitch.


With insurance, producers are facing the following that makes selling incredibly challenging:


  • It’s intangible

  • It’s commoditized

  • Credence-based (meaning insureds have no way to tell if you’re doing a good job)

  • It’s extremely competitive

  • It’s unsought.

Insurance is also a zero-sum game between brokers. For you to ‘win’ a new account, the incumbent has to ‘lose’ it.


There was no ‘new account’ created. The business likely existed. All that happened was that it moved from the incumbent to you.


So, in an industry where everyone offers “expert advice, competitive rates, free quotes, and personalized service”, how are you standing out?


Where does your inner confidence come from?


Your VALUES PROPOSITION.


Not value proposition. Values, with an 's'.


Because you’re selling you. What do you believe? What do you stand for? How will your prospect know that when the chips are down, you’ll be there for them?


Here’s how.



Identification → Trust + Commitment → Happy Customers


What does that mean? Well, you can watch the video (WARNING it's 10 minutes long) or skip it head straight to the text explanation.



 


 


Here’s how it works.


First, we’re drawn and attracted to people who we believe are ‘like’ us. Those who have the same values, beliefs and world views.


Why? Because it makes us feel comfortable. We understand it. It reaffirms our place in society.


The key, though, is the self-categorization of ‘us’.


Take me, for example. At any given moment, I might be thinking of myself as a marketer, solopreneur, father, husband, baseball coach or middle-aged mountain biker.


Each 'category' might bring certain values to the fore-front.


And because we trust ourselves, we’re more likely to trust those who we believe are like us.


The trick, of course, is turning something about your values, characteristics, and personality into a ‘thing’ that helps us stand out.


VALUES → MESSAGING → BEHAVIOURS


Let’s look at one of my values: Play long term games with long term people.


I value fewer relationships that go deeper. I put more into them. And I get more out of them.


Far back as I can remember, I’ve been like this.


It’s only now, as an adult, looking back and reflecting am I able to quantify or label this value. And interestingly, this has come through both personally and professionally.


MY CORE VALUE: Play long term games with long term people


How do I message this?


MESSAGING

  • Talk about working together on problems.

  • Give away helpful content without asking for anything in return.

  • Do what I think is in the best interest of others, to help them succeed.

  • Slow-play opportunities.


My goal is to build relationships with people, not just process transactions. So my messaging needs to show this.


BEHAVIOURS

So, how do I turn this messaging into tangible 'things'?


  1. I try to create content that I believe insurance brokers and producers will get some value out of;

  2. Take what I've learned in over 20 years of marketing and building a company to create a system that brokers and producers can use to help their building efforts, and;

  3. Rather than selling a course, I sell a course WITH an hour of consultation. Why? Because I know from experience that DIY + coaching is far more effective than DIY alone.


Next Time

I'll break down some of the content I've created and how I use it.






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