Understand Your Buyer > How People Work > The Insurance Effect
What is it?
The Insurance Effect is all about offering to provide “everything” your clients need – both in terms of servicing their needs and making provision for when things go wrong, it gives them a feeling of peace of mind – much like an insurance policy.
Why does it work?
The Insurance Effect is all about minimising risk for your buyer through offering unlimited support, unlimited access and essentially making the offering to “be there” for whatever they need.
Promoting peace of mind (much like and insurance policy) is an understood and an attractive proposition to your buyer and as the seller it’s often not a resource heavy thing to do.
What can you do about it?
Depending on your offering, think about the resources your buyers will need. Emails? Calls? Meetings? Repairs?
Whatever your buyers need, think about the costs associated with offering “unlimited” amounts of these resources to your buyer. The reality is there will be a natural limit and this will often not be too cost prohibitive which allows you to lead with bold and confident claims of “anything and everything” which make your offering attractive to your buyer.
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