YouTube video (Andy Neary) advising health insurance advisors on how to illustrate health insurance company stock prices to persuade prospects. The presenter argues that showing a simple, clean comparison between the stock price on March 23, 2010 (the Affordable Care Act enactment date) and a recent close creates stronger impact than multi-line time-series charts; he demonstrates an alternative graphic and offers to share the slide.
Chapters
In this video, I'm going to show you how to effectively illustrate the stock prices of the health insurance companies so you can have a bigger impact with your prospects. Talking about the health insurance stock prices is something most health insurance advisors love to do and for good reason. Since March 23, 2010, the day the Affordable Care act came into law, the stock prices of the well known insurance companies, companies like Anthem, UnitedHealth Group, Cigna, have skyrocketed. In some cases 10 times the price they were back on 2010. However, the way you illustrate the prices is going to create the impact you want to have on your prospects. And the problem is the way most health insurance advisors are illustrating it today, it's not having the same impact you think it is. Why? Well, let's look at the illustration. The graphic most health insurance advisors are using today. It's this right here. Now when you look at this for you and I, it's very easy to understand. Yeah, we see the squiggly lines going up to the right representing the fact that, that the stock prices are increasing. However, here's the problem. It's not having the same impact on your prospect. Why? One, there's too much going on. There's way too many squiggly lines going everywhere. Number two, you're not giving your prospect the opportunity to compare today's price to what it was back on March 23, 2010. So how can we do it effectively? Well, how about we use this graphic? This is a graphic I used in, in my time as a health insurance advisor and it had a huge impact on my prospects. Why? Because it was very easy for them to compare the price on March 23, 2010 to the price as recent as yesterday's close of the stock market. And you'll notice what we've done here with this graphic. Number one, the fonts of the numbers on March 23, 2010 are a little bit smaller than the font or the size of the font. So on the most recent stock price stock market close. And number two, it's a very simple graphic. It's clean. There's not squiggly lines going everywhere. Whenever I used this slide in my presentations with my prospects, their eyes went wide open. They didn't realize what is happening inside the health insurance system. And this slide allowed me to have the impact I wanted to have with my prospects, making it a lot easier for them to understand why the health insurance company's goals are not aligned aligned with theirs. So my advice to you is if you want to use a graphic to talk about the misalignments in the health insurance and healthcare systems, and you want to talk about the health insurance company stock prices, make sure you're using a graphic that is clean, simple, and easy to understand. But most importantly, use a graphic that allows your prospects to compare today's price to what it was back on March 23, 2010. If you do that, I guarantee this conversation about health insurance stock prices is going to have the impact you want it to. So please use this graphic. Take it if you want a copy, I'm happy to give you a copy of what we use with our clients. But whatever you do, when you make it simple to understand, your communication becomes more effective and it has a bigger impact on the prospects, making it easier for them to do business with you. And how you illustrate the health insurance company stock prices is no different.
