Own the Products You Sell

During the last week of May, I was hired to make a presentation for Canada Life, a large insurance company that sells living benefits. They hired me to deliver my new keynote speech, “Selling Insurance – How to Avoid Leaving Money on the Table” during their five-city, five-day road show.

Living benefits are insurance products that provide income to individuals who may experience unexpected health issues. As a business owner, I am grateful I took the steps to create a safety net underneath me. Should I stop working due to health issues – as did happen to me – I would be able to support myself and my business. I purchased the policy when I was 42 years old, and I did not expect to have a health issue nor did I realize the importance of being able to take time off from my business to recover and get back to doing what I loved.

During the presentations in Victoria, Vancouver, Richmond, Surrey and Kelowna, one of the key points the audience of insurance brokers and financial advisors shared with me was how difficult it was to sell a product to your clients if you don’t own a policy yourself. Surprisingly, only about 50% of audience members owned critical-illness insurance and less than 35% owned disability insurance.

This sparked thoughts for me about how vital it is for entrepreneurs and sales people to own the products they sell. In my business, I sell mostly services and the odd product, such as my book, Lift Strategies. I believe wholeheartedly in having a solid marketing action plan and, in turn, following this plan:

  • I update my website regularly
  • Send out marketing tips twice a month
  • Attend networking meetings
  • Make sales calls
  • Use social media to connect with others

Since I help entrepreneurs with their marketing strategies, it makes sense that I am actively walking my talk.

In your businesses, do you own the products you sell or actively use the services you promote?

Jen DeTracey is the founder of Lift Strategies and one of Canada’s Top Marketing Experts. She is the innovator of the LIFFT® Process which shows small business owners how to tweak their operations, develop customer engagement strategies and promote their business. You can subscribe to Jen’s Quick Tips. find out about her Virtual Marketing Program and buy her new book, Lift Strategies – Quick Tips to Engage Customers and Elevate Profits.

Jen DeTracey

Jen DeTracey is a Strategic Alchemist for Lift Strategies. "My focus over the past 25 years is to really drive home the importance of customer retention and getting new customers efficiently. It’s about nurturing your fans and attracting new ones. If you don’t have a system in place to keep customers, you can’t go out effectively get new ones.” Jen offers in-person and phone consultation, keynote speaking, half day training, her “Lift Strategies” book and the "create your customized marketing action plan" through a personalized one to one telephone/online program.

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