In certain markets, what you sell is seen as a commodity. For example, workplace safety. People look at workplace safety as a requirement. They will do what they need to do to be in compliance, but nothing more. So, naturally, everyone is shopping for the lowest price.
And if that sounds a little like your industry, then your challenge becomes:
How to turn something so commoditized into a competitive advantage for your prospects?
It all starts with the same questions:
What would be a dream come true?
What can you do for people if they would just get out of the way and let you do your thing? What this does is, elevates the conversation to the next level.
Instead of looking at your service as an expense they want to be handled at the lowest possible cost, you can now present what you do as an investment. Something your prospects can get a return on. Something measurable.
Think about it. When you start your conversations about how you can lower their insurance cost, lower their claims, and create a happier work environment…
When you show how you can take somebody from $1 million a year in premiums to $335,000 a year… that's a pretty big return on spending time with you, don’t you think? Your prospect's thinking shifts from “It’s going to cost me X” to “I can save Y!”
Totally different than being positioned as a commodity. And here's the thing, once the perception changes from expense to investment... The price you charge becomes secondary. Because now, your prospects have something to compare to their gains. And the more they invest, the bigger their returns grow.
For a thorough understanding of the nuances between commodity and advantage, head over to the podcast.