Title Trends In Today's Market
Mario in title
How we maintain title clients in today’s market is like Mario finding a mushroom (a “MegaMushroom” to the gamers out there). However, it’s not the mushroom itself that we should be focused on, yet, what Mario becomes from finding it.
Let us explain.
When Mario comes across a mushroom, it makes him Super Mario. He runs faster, jumps higher, and can sprint to speeds that would make a cheetah blush. Simply, he’s a better version of himself than he was before and better equipped to take on whatever may come his way. Be it a toad or 7.3% 30-year fixed rates.
All too often, across industries, products, or services, it’s easy to default to the ‘what’ instead of the ‘why’. More succinctly referred to as features (the ‘what’) and benefits (the ‘why’), we overemphasize the shiny, new thing that we’re trying to sell and under-index on the motivations our clients have that we can solve.
This is where value comes in.
In the world of title, the policy is the policy. We can’t differentiate too much there. Same can be said for the price. For those that may be counting down the 4P’s learned from a Marketing 101 course, half off your potential positioning is immediately eliminated.
We can go beyond the 4Ps by offering value - it can cost us little, can start from the first interaction, and can leave a lasting impression. These can include:
- Interesting industry report, news article, and/or podcast and your takeaways
- Hosting a webinar on a topic of interest to your clients
- Coordinating a peer group with those you serve to share best practices and network
- First-hand experiences with key learning(s) that pertain to today’s industry
- Polling clients and sharing responses / feedback
Differentiating your value
Value isn’t a sales gimmick nor a one-size fits all. It puts the earnest on us to let our clients know we’re here to help however we can - beyond the thing that we sell directly. In fact, the best businesses go further than transactional into relational, and it’s a differentiator in reminding your clients that they also are partnered with industry thought leaders. The policies and services are mere table stakes.
If your clients can trust and depend on you on the toughest of times, you’ve built a relationship that can weather any economic storm.