Every company’s dream is to have a product or service so special only they can offer it to customers. This quality is called the Unique Selling Proposition (USP). Giving that special deal or feature only you can offer can make or break a buy for a customer. Companies use a USP to set themselves apart from the competition, and to make them product differentiators. However, what happens when every company in the market says they’ve got something unique and special, but it turns out it is all the same?
After examining ten of the top nationwide insurance companies’ websites, including Allstate, State Farm, and Progressive, there are a few things that stand out as not so unique.
1. Nearly every company tends to use big adjectives to describe their business. They are “neighborly”, “responsible”, and “there for you”; every company is your friend.
2. Most companies highlight online services, offer the ability to find unique discounts, free quotes anytime, and great savings.
3. For the companies that list their savings amounts, they are listed as an average/year that customers may or may not be able to save.
Who Did it Wrong
The problem with these selling points is companies infrequently communicate how exactly they will live up to their expectations in a unique way. Every company offers value propositions such as being “the best” or “the most responsible”, but few show how. For example, Travelers Insurance claims to offer, “better coverage” than their competitors and Nationwide claims to “always be on your side”. The message is relatively the same for every company; “We have value!” The selling points highlighted, such as online quotes or savings/year, are the same selling points rehashed to customers over and over again. However, the point of the USP is to show unique value above and beyond competition. Companies can do this by communicating both value propositions and the specific, unique actions they do to bring that value.
Who Did it Right
Look at Esurance and Nationwide as examples of USPs done right. Esurance displays how a customer can use their services to check up the progress of claims 24/7, complete with pictures of repairs. The service is one no one else seems to be offering. Esurance also clearly communicates how a customer can get 24/7 service both electronically or over the phone, making good on their promise to be there with, “people when you want them, technology when you don’t”. Nationwide highlights their safe driver discount. The client is promised $100 off for every year of safe driving history. The number is a concrete deal customers can resonate with, and it’s different from the way discounts are being displayed by other agencies. This is bound to stand out in the customers mind.
To sum up, insurance agencies need to show what makes them different and unique from their competition. Highlighting standard services and similar features to the competition does not do much to show the customer how a company is unique and valuable.
The Companies We Looked At
Allstate: “You’re in good hands”
Selling Points: Customizable coverage that fits your needs, saving on combined packages
Savings: Save an average of $348/year by using Allstate
Travelers: “Better coverage for what’s important to you”
Selling Points: better coverage for competitive rates, online account management
State Farm: “Like a good neighbor State Farm is there”
Selling Points: They’re there for you, 24 hour service, fast estimates and quotes anytime
Savings: Save an average of $489/year by using State Farm
Geico: “Strong, Stable, and Growing” (although this has changed, you may recall “So Easy A Caveman..”)
Selling Points: Electronic billing, been in the business for 70 years, ranked top 3, free online quotes
Progressive: “Be the Boss of Savings”
Selling Points: Name your own price, service 24/7
Savings: Match or give you a better for your current policy
Nationwide:
Selling Points: they’re always on your side, will find discounts for each individual policy
Savings: $100 off for every year of safe driving
Farmers:
Selling Points: Free insurance quotes, they’ll provide where other agencies fall short
Liberty Mutual:
Selling Points: Free quotes, online service, no hassle claim service, a responsible company
Esurance: “People when you want them, technology when you don’t”
Selling points: 24/7 customer service, repair monitoring around the clock
Savings: Find unique savings by comparing plans and prices with the Esurance website
The Hartford: “Drive with confidence”
Selling Points: 200 years of trusted business, quick quotes anytime
Savings: Average savings of $436
Written By: Mary Rupert, Search Engine Maintenance Specialist
The second study was on EmptyMind, an organizational blog. EmptyMind tested the use of an additional information link on their blog. The first link was a simple icon of a phone labeled “additional information.” The second link, replacing the first at a later date, was a picture of the blog author labeled the same. You can clearly see the results of both studies in the chart above; there is significant correlation between the presence of pictures and the increase in conversion.
es of people help to bring about this connection.