How to increase sales
- Don’t let price be the first number you talk about.
- Frame the conversation with the right questions.
“Everyone likes to buy, but no one wants to be sold.”
Have you heard this saying?
The gist of it is that you have to make it easier for people to buy by justifying their purchase.
If people feel like they’re being pushed they’ll head for the hills.
But you’re in luck because there’s a simple concept to help you show people why making a purchase is in their best interest and will help them solve a problem.
Here’s what you need to know to increase sales.
Strategy to increase sales
1. Try to never let the price/investment be the first number that comes up in the conversation.
In my business, for example, it’s common to get a request to see if I am available for a specific date and to inquire about my fee. I will reply if I am available but I never give a number.
I want to set up a call so I can ask questions and get information to properly frame the way they look at investing in me speaking at their event. I want to be a true partner and not just a “rental speaker.”
My goal is to provide value that extends far beyond my time on stage.
I’m not a low-cost provider in my industry. I need to set up the proper FRAME to look at and judge my speaking fee that makes it seem like an easily affordable investment.
2. Frame the conversation by using the Law of Contrast to increase sales.
And it’s done by asking the right questions to identify their key numbers. Here is the data that I look for when I talk to a company about opening or closing their sales event:
- The company’s total sales/revenue from the last year.
- Their goal for % increase in sales for this year.
- The number of people attending the event, how many days it lasts, and the event location.
- Why is this event so important? What are the key issues facing the company?
If the company did $330 million in sales last year, expect a 10% – or $33 million – increase in sales. They’re facing increased competition and tighter margins.
It’s a once-a-year event and their top tier salespeople and customer service team – who generate 74% of their overall sales – are attending. My fee is MINISCULE compared to that.
A real-life example
I am a big BOSE fan. I own the QuietComfort noise-cancellation earbuds and the Revolve Speaker for when I play golf.
I fly more than most each year, usually about 150,000 miles or over 3 million in total.
In many of the airports, BOSE had a kiosk selling their products. If you stop by and ask the price and they say $249 for the QuietComfort noise-cancellation earbuds, you might say, “Yikes!”
Here’s how they sold me on the product.
The sales professional asked me some critical questions:
“How often do you fly? Wow, that’s a lot. Every week! How many hours do you think you are in the air each month? Amazing! Over 30 hours a month or well over 300 hours a year! That’s 1500 hours in the next five years on a plane, in that loud, often-disturbing cabin. These noise-cancellation earbuds will make every hour quieter, every song and movie sound much better. It’s also much better for your hearing long-term. How much do you spend on airfare in a year? Wow, over $20,000!
I have good news! The BOSE QuietComfort earbuds are the best in the industry and they are only $249. Would you like them in white or black?”
Once properly framed, investing in yourself to buy NOW is easily justified and exciting.
It’s one simple way to help you increase sales.
Asking some key questions before the price/investment comes up can make the rest of the conversation much easier to create a buying atmosphere.
Adopt this strategy for your business model and help your customers justify their investment and buy from you with increased desire and confidence.
Brainstorm with your sales team. What are the best questions people are already asking right now?
Explain this simple strategy to them. They may do it once in a while, but it was by accident and not on purpose.
Increase sales by being intentional about using this method of properly framing your “fee.”
I would enjoy hearing how you apply it. If you thought this was valuable, please recommend me to the leaders at your company to speak at your next convention.
Editor’s note: This post was originally published on 7/11/18 and has been updated for accuracy and comprehension.