Financial Sales are Being Tested as Never Before. Be Exceptional.
As an insurance and financial sales speaker, I have seen, first-hand, the challenges affecting our industry from the start of the pandemic until now. I am not only a motivational speaker on the industry, but I started my career as an insurance and financial advisor. I know what it takes to be successful in a highly competitive marketplace.
Looking Ahead
As tough as insurance and financial services sales was in my day, it is even more difficult in 2021. And, according to an October 2021 research report from KPMG, 2022 may even be more difficult.
Industry-wide, there is tremendous concern over data and security. Security, as we all know, isn’t just the domain of the IT guys in operations. Security also means treating your client’s personal information as sacred, including using unsecured computers in public places or opening suspicious email.
However, beyond the other usual concerns such as the regulatory environment, among the top challenges for financial services and insurance industry sales reps are “two old friends” that are all too often taken for granted. In fact, they are often ignored.
Customer Expectations
The new consumer for insurance and financial services, will demand a higher level of service than ever before. This isn’t a “throw-away sentiment.” Going back to an Accenture Global Financial Services Consumer Study conducted about 18 months ago, it was found that personalized services were highly valued.
Personalization means that customers want you to see them and that your products line up with their specific needs. Be prepared to match your products to their specific needs. You must be determined to exceed their expectations. It will take time and effort to personalize their experience otherwise you may lose them.
The Competitive Picture
What do you offer that your competitors don’t? And, before we get into this point, please remember that according to the latest consumer surveys, your customers are less loyal to “brands” and “identity,” but much more loyal to personalized service. With all due respect, if a company rolls out its history as the first point, but offers customers limited customization to their needs, they will demand more, or move on.
Do you have the mindset to meet that demand?
Though it might sound in opposition to the point I made above, along with personalization comes access. Your customers want easy online access to the products they have purchased. In other words, automation must be offered in addition to personalization.
The new generations of insurance and financial services customers, have grown up with computers and digital devices and may be more digitally savvy than you. Chances are strong they have done their research, know the questions they want to ask, and will be expecting you to rise to the challenges they pose. This require the daily to do more than what is required, but what is exceptional.
To contact Scott Burrows, Financial Services & Insurance Sales keynote speaker for a virtual or in person presentation, please reach out to him through this new website or his office at: (520) 548-1169
