Great insurance agents do one thing really well: they understand each individual's emotional reasons behind insurance purchases.
After all, with any purchase we make, insurance or not, we consider it from an emotional standpoint just as much as from a logical standpoint. InsightSquared pointed out the psychological reasons behind purchase decisions. Let's take each one and turn it into a tip for insurance agents to use:
- Buyers make decisions rooted as much in emotional impulses as logical facts. Understand your buyer's emotions behind the decision to purchase insurance. Ask them what they hope to gain from the coverage and learn their needs.
- Buyers have egos. Tell them what's in it for them before they even ask. Be clear about the policy and make them comfortable with the decision. Buyers don't want to regret a decision they made.
- Buyers have a greater commitment to fleeing losses than to seek gains. Pointing out the relief they'll get from the coverage will be much more effective than trying to show the potential gains.
- Buyers are naturally suspicious. Gaining the buyer's trust is vital. This could mean scheduling a call to understand their needs and concerns before advising on any insurance products if you don't already do this. Show them that you genuinely care about meeting their needs.
- Buyers respond psychologically to visual elements and stories. Use testimonials from your current clients to help show a prospect how you've actually helped. Also, any selling materials you use (including your website) should be clean and uncluttered. A prospect should be able to comprehend the information quickly.
- Buyers crave value. Remember that what is valuable to one prospect may not be of the same value to another. Again, take the time to learn about each individual person's needs and find an area where you can provide something that will be meaningful to that person.
- Buyers travel in packs. Social proof can be everything for your agency. You can leverage it both online and offline to show your worth to prospects. If you aren't sure what social proof is or how to use it for your agency, check out this blog post.
Though these tips were quick, they're extremely important. They're also things you can take action on immediately. Gone are the days where buyers purchased solely based on price (if those days ever even existed). Buyers want to know they're making the right decision before they even make it. If you make an honest attempt to understand their emotions and show empathy, it will inevitably lead to more sales.
Want to learn how to use empathy to sell 53% more policies?
We're joining Rocket Referrals in a free webinar to discuss the secrets behind the emotional reasons why people give referrals and what this means to you as an insurance sales or marketing professional.
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