Archive for October, 2010

MAIA Big Event

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People Buy for Emotional Reasons

People buy for emotional reasons, not logical reasons.

It seems to me we often appeal to peoples logic when we are selling insurance. We need to realize, with the degree of denial people have, we need to help them understand the Post Loss implications of the decisions they make when we are selling them the insurance. Bringing in Emotion, means WE have to paint a clear picture of what it feels like NOT having the coverage we are currently attempting to sell them.

My example is selling Replacement Valuation on Personal Property on a Homeowners. We can invoke “You should buy Replacement Cost on Contents” until the cows come home, and the client will not “get it”. If we talk about lightning hitting their new flat screen TV and them standing at Best Buy with a check for $ 1,000.00 trying to replace their $ 3,000.00 flat screen and THEM having to come up with $ 2,000.00 out of pocket, they begin to feel the pain of what it is like NOT to purchase the coverage correctly!

Unfortunately, we almost have to be fear mongers to make them feel the pain, BUT THAT IS WHAT IT TAKES to overcome the Denial! Learn to make things real when explaining coverage. We will have much happier clients at the time of loss!