Adjust Your Value Proposition to Fit New Risks

Adjust Your Value Proposition to Fit New Risks

—Reprinted with permission from PIA Management Services Inc.— 

Amanda Puppo
CEO, MarketReach Inc. 

 This past year, new risks are emerging that are affecting insurance agencies. According to a recent report, “… while insurance as an industry may be slow to change, its risk environment is not.”1 Amid the developing risks in the digital realm, the physical environment and the mid-pandemic world, your agency is figuring out how to adapt its value proposition to meet customers’ needs. This article will discuss some areas to consider when re-evaluating your agency’s offerings. 

What is value proposition? 

 Your agency’s value proposition is arguably the most vital element of your overall marketing messaging. A value proposition explains how your product solves customers’ problems or improves their situations. Let’s face it, it’s not always easy for agencies to differentiate from one another. From our work helping insurance agencies get sales appointments with their prospects, differentiating (on paper) has proven to be the most challenging piece of the sales process—but it is the most important first step toward an effective sales strategy. In order to consistently provide value and remain competitive in the market, adapt your value proposition based on the world around you.  (more…)

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Prospect Qualification and Appointment Setting to Land More Meetings

Prospect Qualification and Appointment Setting to Land More Meetings

This article was published on December 21st, 2020 in Insurance Journal.

The objective of prospecting is to find quality opportunities to narrow the sales funnel, and then consistently target that focused group with marketing messages to get noticed. For insurance brokers, you have the luxury of finding third party list sources that start you off knowing key data about your prospect universe. Instead of chasing non-qualified prospects — or worse, not even knowing who your prospect universe even is — prospecting followed by properly executed appointment setting leaves no rock unturned.

Every prospect on your list is a new opportunity to qualify, disqualify, set a callback or land a sales meeting for a producer. Phone outreach is the best way to land more sales appointments and the only way to determine if, in fact, the opportunities in your local universe or target industry are sellable. Phone outreach is also one of the only ways to incite two-way communication between a buyer and a seller, which will then lead to more closed deals.

What Is Strategic Prospecting Through Appointment Setting?

Appointment setting, also known as telemarketing, is based on strategically conducting calls in order to schedule introductory sales meetings with decision-makers. For best results, the prospects are pre-qualified through a qualification process, based on specific parameters set by your agency. Typically, to get in the door with workers’ compensation or property/casualty insurance, the qualifier is either total premium, or at least, staff size. Chasing opportunities that equate to less than $1,500 in annual commission is not good use of time or marketing dollars. Instead, reserve those opportunities to close for inbound only… Read more

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The Benefits of Crafting a Well-Written Prospecting Script

The Benefits of Crafting a Well-Written Prospecting Script

The most daunting part of making a sales call is preparing for the unknown. Will I reach decision-makers?  What kind of questions will the decision–maker ask? Am I prepared with the best responses? Enter the sales script! Think a script is only useful for newbie salespeople? Think again! With the new year comes an opportunity to dust off old material and think of our messaging in a new way. This also allows for an opportunity to showcase new technology, services or offerings you’ve recently added. Taking the time to craft a script that is timely and relevant can mean the difference between a closed deal (great intro, effective probing questions and a convincingly delivered Value Proposition) and a lost opportunity (due to a poor introduction and lack of engagement questions that lead to a summary dismissal). 

Consider these benefits of taking the time to craft a new prospecting script:     (more…)

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Creative Ideas for Vending During the Holidays

Creative Ideas for Vending During the Holidays

The holidays will be here before we know it! The ongoing pandemic may put a damper on holiday cheer, but keeping the spirit alive is essential. The Vending Industry can help in that department in some unexpected ways. Creativity and innovation will keep us coming together, even while we may be celebrating apart. Here are some jolly suggestions:  

Donations 

Believe it or not, vending machines can make donations to charities simple. While it sounds optimistic, innovators have proved it is possible. The Light The World Campaign proved what one vending machine can accomplish. The Holiday Giving Vending Machine is like any other, except instead of buying a box of crackers, you can buy donations. With locations in London, Manila, New York City, Salt Lake City, and Denver, this machine is spreading glee globally. Within the past three years, it has made countless donations and raised 2.3 million dollars last year.   (more…)

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The Power of Testimonials and Reviews in the Vending Industry

The Power of Testimonials and Reviews in the Vending Industry

It is safe to say that there are no better marketing tools than testimonials and reviews. People want to hear about the good and the bad and, truthfully, anything you see on a company’s website will always come with some bias. For vending and micro-markets, hearing from past customers is good way to decide whether the product or service will be the right fit. There are many benefits – for both your prospects and your company – that come with sharing testimonials and reviews. Some of these benefits include:   (more…)

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Breakroom Service Providers: Sales Tips to Finish 2021 Strong

Even though there didn’t appear to be much of a “summer”, the calendar kept moving. Not long ago we were writing about the importance of Qualifying Prospects During COVID-19 and What to Expect From Salespeople During this Time, and now fall has already arrived. Whether vacations were canceled, rescheduled or modified, working people hopefully took some time off to refresh and sales has become top of mind again. Let’s turn up the momentum as decision makers return from their “summer” vacations, eager to start the last quarter strong.  

Track your efforts and re-strategize. 

Identify the prospects you contacted these last few months, and ask yourself the following questions: During the shift to “work from home” that occurred with certain industries, did you make stronger attempts to go after blue-collar businesses that were more likely still on–site? Did you make ‘touch base’ calls by phone when businesses were adapting to the pandemic? Did you utilize any direct mail campaigns or email newsletters and monitor engagement? Did you attend any virtual networking events or conferences? Did you enter new contact information into your CRM or prospect Excel spreadsheet?    (more…)

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Why the Vending Industry is Adapting Their Value Proposition During the Pandemic

As we slowly come out of the economic crisis that the pandemic has created, it will become increasingly important to emphasize your company’s value during your prospect calls. A value proposition explains how your breakroom offerings solve customers’ problems or improves their situations. Let’s face it, it’s not always easy to differentiate, but it is the most important first step toward an effective sales strategy.  

Differentiation is not just about price, either. Though we must be competitive, other factors, including variety in services and products, quality customer service and updated equipment also help your company differentiate itself. A solid value proposition demonstrates credibility and expertise while developing trust. Here are some tips on creating a more compelling statement to present with during your prospect phone outreach. 

(more…)

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Adapting your Agency’s Value Proposition

Adapting your Agency’s Value Proposition

As we slowly come out of the economic crisis, it will become increasingly important to emphasize your agency’s value during your prospect calls. Decision–makers may be slow to switch their brokers today or next month, but insurance is one of those buying decisions that MUST be made. Come renewal time, they will either shop their policy and switch, or they will stick with what they have, which is still a buying decision.   

In the months to come, show your prospects why they need your expertise so that when the time is right, they think of you. Undoubtedly, this has always been important, but since priorities have shifted, such as getting staff in an effective work-from-home model, Producers must consider their value prop even more to get attention, while we are still knee-deep into this pandemic. MarketReach can help script a new value proposition and deliver it to your prospect list through skilled phone outreach.  (more…)

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How to Stay in Touch With Clients During the Pandemic

Article published in Vending Times on  by Amanda Puppo

In the early months of this pandemic, B2B sales became less of a priority for many convenience services operators, and it became difficult to figure out the right approach. For many businesses, breakroom service changes had been put on the backburner as other operational items had been prioritized.

But just because things have been tough does not mean that they will not get better. It is more important than ever to stay in touch with your customers that may have put spend on hold, or reduced, during this time.

(more…)

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What to Expect from Salespeople at This Time

What to Expect from Salespeople in the Vending Industry

As it has been for all, it’s been an especially tough few months in the breakroom service industry. Although some companies are seeing sales numbers return “back to normal”, that is not typical. The uncertainty of employees returning back to the office has challenged the industry and the services it provides. Sales numbers are usually a good indicator of success, but now that your salespeople most likely aren’t making as many sales, what should you expect from them? Perhaps you’ve furloughed some employees and have brought them back with your stimulus check (even though your usual workload has not returned). So, if they can’t perform their main role of selling, what expectations should you have for your salespeople? Here are some aspects to consider:   (more…)

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