Selling Features, Advantages and Benefits
|
At some point during the sale, you must provide the prospect with information about the policy (ies) which are being sold.
However skilled you may be in questioning and discovering needs, your prospect will be unlikely to make a decision until an adequate amount of information about the policy (ies) has been presented.
Some ways of describing policies are more persuasive than others and increase the probability of making a sale.
Features describe some characteristics of the policies. For Example:
“This policy has an all-risks extension”
“This policy extends to suppliers”
“Claims cost are covered”
You can make these statements more persuasive by telling the prospect the advantages that arise from these features.
Advantages describe how a policy or a policy feature can be used to help the prospect.
For Example:
Because this policy covers all risks, every type of loss is catered for, not just the standard fire and theft perils.
If your suppliers suffer a catastrophe and can no longer supply you with goods or materials, the supplier extension will cover any losses.
When making a claim, normal polices will not cover your own time, Loss Recovery Insurance pays the fees for a qualified, independent chartered loss adjuster to handle the claim.
In fact, the second set of examples goes beyond simple characteristics. It shows how a characteristic or Feature can be used and applied. Such statements are advantages.
|
In the next edition of Update, “Closing the Deal”
|
|
 |
|
The final stage in this process is to describe to the prospect the benefits that will be gained by buying your policy, Benefits relate to what the policy will do for the prospect as an individual. You use questions during the sales structure to identify needs and benefits. In order to satisfy the needs of the individual you need to tailor your presentation so that you sell relevant benefits that meet specific needs.
Because this policy covers all risks, every type of loss is catered for, not just the standard fire and theft perils. You can be confident that if you suffer any type of claim, all your losses will be covered
If your suppliers suffer a catastrophe and can no longer supply you with goods or raw materials, you can be reassured the supplier extension will cover any losses.
When making a claim, normal polices will not cover the costs of your own time or any third party you may employ. You will therefore save time by having the claim professionally prepared and money but not having to employ either lawyers or assessors.
People buy benefits rather than features. By relating features to advantages to benefits you can make your presentation more effective and improve your new business ratios.
|
|
