How To Use Exploitation With Integrity and Win!

It’s interesting how certain words illicit negative responses.

For example, when most people hear the word ‘exploitation’ they think of it as a negative word. But exploitation is a vital success tactic in all competitive environments. Including business.

But, before we talk about the business application-Let’s look at one of the most easiest examples to help explain this strategy. The example is of course- sports.

Each team tries to locate an ‘opportunity gap’ or weakness on it’s opponent and once it is discovered they try to exploit that weakness because it represents an ‘opportunity’ that can lead to the goal of achieving a victory.

Another example would be the game of chess. Once you’ve discovered your opponent’s tendency to make certain moves you can then exploit that tendency and make it your ‘opportunity’ to win.

So exploitation with integrity is simply recognizing a weakness/opportunity and playing by the rules to exploit this opportunity and create a victory.

So how does this apply to your insurance agency and Why is it Vital for you to adopt this strategy as quickly as you can?

The answer is simple.

‘Old School’ ways and ‘Old School’ days has lead the industry toward a dead end path of commoditization.

This dead end destination is complicated even further with the perceived current state of the economy.

And in a world of commodities -price is the only thing that matters. Now, if your future is mainly dependent on winning the ‘price’ game then you may as well get your chair, look for a rope, step up on the chair, position the rope….and, well -I think you get the picture. Not pretty.

Why?

Because the fact is if you’re in the ‘price’ game and you are not the one who gets to set the price, but you get paid on production and the ones who set the price get their paycheck regardless of production -then this is an inherently flawed formula.

So now you’re saying….”No Sh*@ Sherlock! But what can I do if I can’t set the price?”

I suggest you look for the ‘opportunity gap’ in your market. Because exploiting this gap then actually changes the rules of the game and creates an unlevel playing field for your competition. And by changing the rules of the game you now take back the control and now you use the rope that was mentioned before to lasso your targets and pull them into your corral.

For example, Tom Monahan entered one of the highest commoditized businesses in the world. Pizzas.

But he did not compete based on Pizza just like all the other competitors were doing. He did not make his mark in the industry by jumping into the price wars. (As an aside, just ask KMart how they feel about chasing the lowest price as a business strategy…they fell victim to the Law of Lowest Price Pursuits -if any business tries to sustain themselves with a low price strategy- it will inevitably bring them down just like the Law of Gravity. And you should take note of how Walmart is fast and furiously attempting to reposition themselves into various business positions…they realize the Law of Lowest Price Pursuits will catch up so they are even testing marketing to the affluent as well as vigorously pursuing Financial products etc…) But Monohan paid attention to the market and listened for the biggest ‘weakness’=Opportunity Gap that he could exploit.

What was it?

The answer is simple. Delivery.

When Tom Monohan started Dominos he built his empire based on one simple ‘opportunity gap’ exploitation because he researched and knew from his own experience that most Pizza shops were notorious for late delivery and that meant the pizza was cold and the cheese was sticking to the box.

So he solved this ‘weakness’ in the industry and exploited the ‘opportunity’ that lead to building an empire and in his case literally changed the industry forever.

So once again, Tom did NOT create success from superior product. He did NOT create success from lowest price. And the reality is, he simply exploited one easy and simple facet of the industry and the rest is as they say…’history’.

The good news is you can take this simple, yet highly effective strategy and apply it with astonishing results. In fact, the Insurance Marketing Mavericks have several proven strategies that have stood the test of time and are extremely effective especially in a ’soft market’.

What are these proven strategies?

Stay tuned because I , along with my fellow insurance mavericks will be delivering many of these strategies in the upcoming posts so be sure to check back frequently.

But while you are here reading this I want to make a confession.

I do not lay claim to knowing all the answers. In fact, I frankly don’t even know all the questions that face our great industry.

But this I do know.

Insurance agents as a collective group of like minded business people can and will conquer the present day challenges and transform them into present and future opportunities.

This site is one of only a handful…if that many…websites that are ‘by agents for agents’ and since that is the truth I’d like to ask you for a small favor.

Would you please click where it says ‘comments’ and give The Insurance Mavericks your feedback. Let us know your thoughts. We want to hear your Triumphs and your trials. But from the stand point of looking for solutions and not just a gripe session. Fair enough?

and Remember…’Always Hit Your Mark’.

Licensed and Lethal,

007

p.s. If you have not already completed this history making survey please take 30 seconds right now and completet it. You can access your personal confidential survey by clicking the link below:

http://www.surveymonkey.com/s.aspx?sm=FTWw2mHKcCGKV9eZTrgmEw_3d_3d

Tags: agents, how to sell insurance, insurance, insurance agency, Insurance Marketing, insurance marketing consulting, insurance marketing ideas, insurance marketing job, insurance marketing organization, insurance marketing sales, insurance prospecting, Insurance Sales, insurance sales ideas, insurance sales tips, insurance training, marketing, marketing insurnce, marketing tips, prospecting, prospects, referrals, sales ideas, selling, selling ideas, Selling insurance, strategies, tips