Selling is hard. It can seem impossible to convince another person to part with their money in exchange for a product. This difficulty is often alleviated if you can show case your product, in other words, let the customer go for a ‘test drive’. There is however, products that can not be tested, or for that matter, even seen by the customer. Imagine having all the stereotypes of a salesperson to deal with and the issue of not having a physical product to sell. It kinda sounds impossible right? Lets go one step further. Imagine you are selling a product that the customer can’t see and it is something they hope they will never need. Welcome to the world of insurance my friend.
Selling insurance has been a profitable career for thousands of Americans, but… how? How are people so effectively selling things that don’t have any sort of physical form? How are they able to market something that people legitimately hope they will never need? Throughout the past few years we have seen two major schools of thought when it comes to selling insurance.
- Story
Companies around the world have done a great job filling their insurance companies with narrative. Liberty Mutual is a great example of this. We have all seen the commercials where a relatable American is standing in front of the Statue of Liberty recounting a time in which they were happy to have insurance. This helps sell the product by explaining how the product positively effected other peoples lives. Maybe it could change your life for the better too?
2. Product
Companies like progressive have worked hard to compensate for the lack of a physical product. One of their mascots in fact, is a personified version of an insurance product. This may sound to far and obvious but in a world of non-existent products, it could just be what people need to pull the trigger on a purchase.
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