Not Luck. Only Good Marketing
  • Jun 14, 2021
  • EOE Digital

The pandemic of today is not Covid but people who are unhappy with their circumstances and refuse to make a change. On the contrary, the people who are striving in every aspect of their lives are considered lucky. It was Elon Musk that said “I work 16 hours a day, 7 days a week, 52 weeks per year and they still call me lucky. If you have ever studied marketing, you will know that products and services don’t sell by chance. Certain marketing theories are like empty jars that need to be filled with your own knowledge and insight. 

Here are those theories applied:

  • Product and customer needs

Simply put, the product is you and all your capabilities, and the customer needs are the needs of your prospects required for your business's success. To submerge the underlying needs is difficult. For example, you know what your client’s needs are on the surface such as financial planning but what are their unstated needs? Is there a certain objective they want to achieve in their business, or is there a certain aspect of their financial management that they want you to focus on? This is something that can be tricky to uncover and it's not going to happen overnight.

  • Cost and price

Who has ever wanted to be a rock star? I know I have. To perform in front of thousands of people and tour the world and the fast cars. However, what differentiates an aspiring rock star from John Butler? He dedicated himself to it by giving 100% and with that came “costs” he had to endure such as countless hours of practice, risk, and endurance. Once people realize the “costs” associated with certain achievements, they no longer want to do it. Are you comfortable bearing the cost factor when it comes to the insurance industry?

  • Promotion and communication

How do you let people know of your existence?

Life is like a giant grocery store. It is possible to view 300 products per minute. This makes prospects overwhelmed with their choices. How do you ensure prospects pick YOU over others?

Grab their ATTENTION. This can be something as simple as cracking a joke.

INTEREST: display the attributes that you thought they might need.

Now it's time to nourish the consumer's DESIRE. Promoting DESIRE might include mentioning additional benefits, tax breaks, and reduced premiums.

ACTION: It’s not the product that sells it’s the most promoted product that sells.

  • Place and Convenience

These steps don’t mean much if your prospects don’t know where to find you. Did you know that in Germany the worst place to meet women is in nightclubs because the male-to-female ratio is 80:20? Therefore, if you want to stand out you have to think outside the box. It's similar in the insurance industry. Make sure your prospects can find you at a click of a button.

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