Every day we have an opportunity to provide outstanding service to our customers if we would “stop selling” and “start educating”. Most people are aware of Payment Protection Insurance (Credit Life and Credit Disability), many have purchased it in the past; however, some may not see the value. Why? Because we may be trying to sell and not educate our customers.
Educating is simply helping your customers “identify” with the benefits and allowing them to appreciate why Payment Protection may enhance their lives. It’s important; however, that we don’t educate by simply stating the features of Payment Protection, we have to provide a related benefit specific to their interest.
To learn their specific interest, we need to determine their buying motive. To do that, it’s essential to ask questions. Asking questions and gathering information should be a conversation that allows you to learn about their areas of interest.
Although having a conversation and asking questions will help to learn about their area of interest; it is also important to realize that decisions are made based on perceived value and how this buying decision will impact their interest. Break these interest down as follows:
- Main interest: what is it they want now
- Their buying foundation: what must they have in the future
- Other points of interest: what would they “like” to have now and in the future
- Key buying reason: why would they want the product
Breaking their interest down may help you educate your customer as to the need of Payment Protection Insurance and how it will impact them now, in the future, as well as the impact on other financial opportunities.
Don’t spend time “selling” how valuable and beneficial Payment Protection is; start having the conversation to determine their buying interest and how Payment Protection will fulfill those interests.