It’s funny how Amazon has taken over my front porch.
There is a brown box out there.
Every. Freaking. Day!
Things I used to buy in person are now purchased online.
Take my shoes for instance.
At one point I had a relationship with the familiar faces at Marti and Liz’s Shoes. I would come in every year or so and buy a new pair of black Bostonians.
Now, with just a few clicks of the mouse, the Bostonians arrive on the front porch in two days.
Buying shoes is a commodity.
The same is happening everywhere.
Instead of spending an hour wandering around Kroger, we use ClickList and purchase the items online and just pick the groceries up at Kroger.
You may have noticed that this is happening in your industry, too.
Robo-advisors and index funds are becoming increasingly popular.
Buying insurance online is easier than ever. Geico, Esurance, and brokers like Zander have cut into your profits.
Rocket Mortgage and Quicken are just a couple examples of the latest way people are getting mortgages.
Real Estate Agents
Flat fee MLS is encroaching on the territory of real estate agents.
TurboTax, accounting software, and a global workforce that charge a fraction of what you do are replacing some of the tasks that CPAs used to take for granted.
People are not coming into the branches anymore. In fact, online banking makes the customer believe they don’t need you at all.
Right or wrong, your industry has become a commodity.
However, you ARE NOT A COMMODITY.
You are unique.
Like Liam Neeson in "Taken", you have skills.
Skills you have acquired over a very long career. Skills that make working with you a dream for people like your clients.
- You know the in’s and out’s of the process
- You are a trusted advisor
- You always do your homework and give your client the right path for the right reasons
- You stay on top of changes in the market and are proactive
There are a thousand pitfalls that occur along the way for the customer and they need someone with your skills and experience to help them navigate the process.
So what should you do?
I know what your competition is doing.
Whining and complaining:(
They are saying how unfair it is and how the customer is making a terrible mistake.
They are missing the opportunity. The opportunity to stand out in a crowd.
Your potential customers WANTS someone to tell them what to do and why. They are more overwhelmed with life than ever, and they would love to work with someone like YOU!
But there’s a problem.
They don’t know you exist or they got busy and forget about you.
Sure you get some good referrals and have a couple of marketing tools you use.
But to the customer, you look just like everyone else in your industry.
In fact, you may be using the same language on your website, have the same headshot, and display the same accomplishments as everyone else.
You need to show them why you are unique and how you solve their problem in such a way that makes you indispensable!
So where should you start?
Take a look at some of the examples below for an idea.
Will a robo-advisor or index fund get to know you and your personal goals like this financial advisor?
Will Geico work with you to control your premiums like this insurance agent?
Will the online guys be able to connect with the customer and still be high tech?
Real Estate Agents
Will a flat fee agent help walk you through the overwhelming process of selling a house (and will they get you as much money?)
Will that fancy new software know how new laws affect your business?
Will that online bank be able to keep you informed like a local banker?
And yes, I’m partial to animated video, but there is a good reason for that.
- Animated videos can easily pass compliance when done correctly
- They stand out from your competition
- Americans perform 4 times as many video views as they do Google searches.
- Adding video to your email campaigns can increase click rates by 300% (Wistia)
- Videos are processed by the brain 60,000 times faster than text. (Psychology Today)
Be like Liam Neeson.
Take control of the situation and show your customer that you are not a commodity!
Or have someone do it for you, so you can spend more time running your business:)