Dear
,
When coaching business owners, I'm often asked the following question:
Why Are My Sales So Weak?
To be honest, I get this question from all types of professionals -- lawyers, dentists, chiropractors, realtors, insurance and mortgage
agents, salespeople, etc.
The fact is, there can be a variety of reasons why someone's sales are weak. But inevitably, almost universally, weak sales can be attributed to AT LEAST this one factor:
You're Not Stressing Benefits Enough
First, let's identify what a
feature is versus what a benefit is:
1. FEATURE - What something is
2. BENEFIT - What something does
So, let's look at a life insurance pitch as an example.
Let's say our insurance agent's name is Sam.
Sam calls a potential customer, makes some small talk, and then tells him that he has a good policy for him. He explains it's a whole life insurance policy; it lasts for 20 years; it's renewable at the end of the duration; and it accumulates cash value.
That's basically all he says and then he asks for the sale.
Sam is very proud of himself after
making a "good" presentation.
After Sam finishes talking, the prospect says, no thanks, I'm not interested.
Sam is shocked and depressed.
Why Didn't Sam Make the Sale?
Everything Sam told the
prospect is a FEATURE. While it's important to communicate a product or service's features, it's even more important to communicate its BENEFITS. In other words, Sam must tell the customer what the life insurance policy will do for him -- how it will help.
So, in addition to what Sam said before, he should add benefits to the pitch -- that whole life gives him the flexibility to take
cash out of the policy if he ever needs money for home improvement, college or an emergency. Also, having a 20-year policy will give him and his family added peace of mind. That way, the family won't to have to struggle financially in the future. Moreover, the customer will never be surprised by any lower term value or increased premiums.
See, how benefits help add desire? They are
invaluable.
With these additional statements, Sam has significantly increased the possibility of closing the deal. Simply by adding benefits to the mix.
So my advice to you is to add as many benefits as possible in your sales pitch -- whatever profession you're in -- and you'll surely see a spike in revenue.
Until next time...
Your friend,
