Successful agents long ago realized that good marketing is about satisfying the needs and wants of their target markets. The single most powerful element that can help an agent close the sale is a compelling benefit statement that clearly addresses the result that the client hopes to achieve. Remember, “If you give people what they need, you can make a living, but if you give people what they want, you can make a fortune!”
The benefit statements, or focused marketing messages, that are able to break through the marketplace clutter and make product and service offerings appealing to the marketplace are those that make an emotional connection with the target market. Well-crafted, market-driven messaging can completely change a product’s appeal simply by placing the marketing focus on specific benefits and attributes that are important to the client.
The process of developing effective benefit-driven marketing messages consists of two important steps:
- First, “listen to the marketplace” to develop a real understanding of their needs, concerns and purchase criteria. For example, is this client price-sensitive or more concerned with getting the most comprehensive coverage?
- Then, describe your products and coverage solutions in terms that directly address their concerns and preferences. Tailor your discussion to focus on the items that matter to the customer. With only a little practice you can become quite adept at honing effective messaging that can completely change the appeal of a product or service offering by simply focusing on different benefits and attributes.
There is no doubt that messaging — with its ability to shape client perceptions — can make a major contribution to the long-term success of your practice.
This article is adapted from a new book, The Professional’s Guide to Financial Services Marketing: Bite-Sized Insights for Creating Effective Approaches (Wiley Publishing), by Jay Nagdeman. For more information, visit www.FinancialServicesMarketingBook.com.