Lowest Price - Is That What You Lead With?
Are you the type of broker that only leads with the lowest price?
When you lead with price it's easy to get commoditized by your prospects.
Price is important, but it's not the only thing that matters. By focusing on your customers and what they actually need, you can set yourself up for success.
The next time you present a solution to a client, follow these five tips before you mention the price.
Think of this as a little "Presentation 101".
The Features versus Benefits.
Said a different way, cost versus benefit.
Let's use Evolved Benefits as an example...
We offer a MEC plan and it's very affordable. It's probably the most affordable MEC plan in the marketplace, especially with the benefits it provides. In addition, our MEC plan has excellent back-end support.
It gives your client a dedicated account manager and an employer portal. Your client can go to the portal and do some of the day-to-day tasks on their own, or they can talk to the account manager who can assist.
Furthermore, the employees will receive access to dedicated customer service reps who are bilingual. Customer service is available all hours of the day, handling calls from the East to West Coasts.
We make life easier for you and your clients.
This is a great example of stressing benefits over price. The cost of our MEC plan usually comes up at the end of the conversation because there's so much more to discuss. By the time we get to the price, the client is already bought in.
Before you get into the old habit of leading with the price, start thinking differently. What do your clients want? What do they need? Believe it or not, they're not always looking for the lowest price.
The reality is you need to ask the right questions so your clients can start shifting their perspective.
Think innovation. New solutions are always coming out so you must stay current.
Remember that relationships are a big deal and relevant partnerships are a big deal.
Trust is a big deal.
Quality is a big deal.
The next time you're sitting down with a client, remember to focus on these five things before you start doing what your competition is doing, which is leading with price.
If you’re ready to dig deeper and get away from chasing the lower price, set up a call to learn how to focus your presentation on the features of your plan.