🌟Standing Out in a Crowd: A Lesson Learned
Recently, I was working on a deal, and as we all know how competitive the Group insurance industry is, in this deal, almost 5 to 6 competitors were involved.
The moment I started the pitch, I could sense the HR representative’s skepticism as I began presenting my product. It was evident that she had heard similar pitches before, leaving me to wonder how I could break through the noise. But as the conversation unfolded, something remarkable occurred – her interest was piqued, and my value proposition began to resonate.
I didn’t realize at that instance what I did right or how that happened.
But eventually, after a week when I closed the deal with her, I went to her and asked her, "What is the reason you wanted to move with us rather than other players who were participating in the process? Why did you choose us out of everyone?"
Her response to this question was, "I had almost met 5 to 6 Insuretech representatives who were pitching about their product, stating they have this feature, that feature, and we will revolutionize your insurance process, etc., same old pitch but coming from different person. But you were the only one who explained more about the insurance industry, how it works, and also helped me understand the basics of insurance like why insurance companies keep a window period of 45 to 30 days for the addition of a new employee, etc., and also told me the value that feature holds, rather than telling me you have this feature. This not only helped me make an informed decision but also helped me understand insurance on a better level.
This experience taught me a valuable lesson: when selling, focus on educating and showing the value, not just listing features. Every question is a chance to build trust and make a lasting impression. And in any deal, the moment the client has a question, no matter how silly it may sound, if they call you out of all the other vendors participating and asks you about it, you have won half of your battle there itself compared to other vendors participating in the process!!!
So, to my fellow professionals out there, remember: in a world full of pitches, be the one who educates and adds value. It’s the key to standing out and winning deals. #ValueSelling #EducateToWin #InsuranceInsights #insurance #Insurtech #Sales
