Competition within the insurance industry is fierce. There are over 150 different general insurance companies listed by Wikipedia. Each of those companies employs tens of thousands independent agents. Allstate, alone, lists over 15,000 agents. So, how do you stand out from the crowd? The best way to set yourself apart is to determine your value proposition.
So, what does that mean? Basically, you need to answer the question, “Why should someone buy from me instead of my competitor”? Break it down even further and write a list of things you offer that others do not:
- Progressive offers a free comparison quote.
- Allstate offers “cash back safe driving bonuses.”
- Geico “saves you 15% on your car insurance.”
- Liberty Mutual promotes “accident forgiveness”
Believe it or not, I remembered all of those without looking them up. Which brings us to Brilliant Way #1 you can communicate your value proposition.
Use a Catchy Phrase That’s Easily Remembered
You should have a list of reasons why a person should buy insurance from you and not your competitor. If you can’t think of any then you need help crafting a good marketing offer. However, we will assume that you have been able to identify at least one thing that sets you apart from other insurance agents or companies.
Take that reason and sum it up in one sentence or phrase (aim for less than ten words). You don’t need to make it cutesy or clever. Communicate it as clearly as possible.
Brilliant Way #2 to Communicate Your Value Proposition – Put It Up EVERYWHERE!
Ok, this is not really brilliant, but it’s often overlooked. The companies I listed before do a great job hammering their message home. It’s in every commercial and piece of literature they use. Their website is saturated with it. When people think of your business, they should immediately associate it with your value proposition.
Consider your website. Is your value proposition on your front page? If so, GREAT! That is exactly where it should be – big and hard to miss. What about the footer? Your contact page? The quote page? Is it mentioned in your blog posts?
Take it a step further. Are you integrating it into both online AND offline materials? The two should support one another. Mention it in your videos.
Whoa… slow down, you say… videos? We don’t do videos. Why not? Every piece of content you create should be distributed on as many different channels as possible.
For instance, let’s say you write a blog post on your unique value proposition and post it on your website. Why wouldn’t you take that same post and promote it in your newsletter. You can use excerpts in email campaigns and on social media. Take it even further and have someone “read” it on camera and post it to YouTube. I promise you that this post you are reading right now will find its way all over the internet in all sorts of “disguises.”
I promised you 3 Brilliant Ways to Communicate Your Value Proposition, so here you go.
#3 – Tell People
Whew! This one is hard. In today’s digital age it’s not easy getting a face to face with clients anymore. Everyone wants to communicate online. Even getting them to call on the phone takes a lot of work. Guess what? Studies show that people are becoming “overwhelmed” with digital material. Traditional marketing is making a comeback and proving to be more effective than ever.
So, get out and meet some people. Engage the local barista in a conversation (a loud conversation). Make sure you mention what you do and use your value proposition phrase. You never know who is listening. Tell your barber all about your business and USE THAT PHRASE.
Word of mouth is one of the best lead generators there is. Make sure people are talking about you.
And there you have it – 3 Brilliant (or practical) ways to communicate your value proposition.
So, what is our value proposition at intouch? “We change how you engage with your customers.” In other words – we help you think outside the box.