Progressive Insurance employs this psychology quite well. Instead of just giving you a quote for their coverage, they give you quotes for their competitors, and wrap them up all with a final statement, “But you are free” to choose whichever company you think is best for you. Even when their price is higher, most people choose Progressive, because it has empowered them with information, earned their trust with transparency and recognized their ability to make wise choices. It makes sense, and a lot of dollars.
Actionables that “You Are Free” to execute on this principle include:
- Inform: Change your sales pitch to an informative, objective presentation of facts that guides customers through the decision process related to your product category.
- Involve: Engage customers in your business before they have to commit. Set up free consultations, live chats with meaningful conversations vs. just sales support, and help them feel part of the process vs. a target for salespeople needing to reach a quota.
- Ignite: As you validate your customers’ ability to make wise choices and your role as their partner not vendor, ignite even more enthusiasm for your brand by involving customers in your business. Invite them to provide feedback about how you can improve your products or service, showing them you value their insights not just their money.
Doing the above steps and applying the BYAF approach makes customers feel like part of your brand family, and a trusted advisor to you, creating bonds of mutual respect and equity in your success, as well as their own. And we all know that when you become partners vs. “vendors and customers,” you are much better poised for sustainable relationships that secure lifetime value and profitable referrals.