“Hard times are spreading just like the flu, watch out homeboy don’t let it catch you” “Hard times!” Run DMC, 1983
True or False:
• Because of the economy, no one is buying anything
• No one has any money to buy
• The economy has never been this bad before
• All the customers are trying to get free stuff or do it themselves
The answer to all of the above questions is false.
Yes the economy is tough, and yes it is more challenging to make sales but, sales are still being made. People still need to buy cars, and homes and washer/dryer sets. People are still buying jeans and jewelry. In every economy and at any time in history some salespeople succeeded and some did not.
You are about to learn or relearn the secret to selling in a tough economy. In a word, the secret is Dollarization. Dollarization is a way to justify money spent on a purchase in terms of actual dollars earned or saved.
The product or service that you sell has benefits and those benefits are worth money. Each and every benefit that your product or service provides can be dollarized, it can be expressed in a dollar amount. For example…
• The plumber can either sell a $100 service call or he can sell the $100 service call that saves the $1000 carpet.
• The office supply salesperson can either sell the $1000 copier or he could sell the $1000 copier that saves the company more than $6000 per year in increased productivity and decreased downtime.
• The Radio Advertising salesperson must be able to show how spending $600 in radio ads can yield greater than $2400 in increased revenue.
A classic example is the choice that has to be made when buying tires. Because of money a customer may choose to buy the $30 tire with no warranty vs. the $80 tire with a 70,000 mile warranty. That $30 tire may last up to 6 months and then need to be replaced. That $80 tire will last 4.66 yrs before needing replacement. So let’s do the math. $30×4=$120 for 6 months. Times two equals $240 per year times 4.66 = $1,118 vs. the set of $80 tires = $320 over a four yr period the $80 tire saves the customer $798 which is Significant.
At this point, some of you may be thinking that what you sell cannot be expressed in terms that show a savings or of earnings of money. I submit that whatever you sell it can be Dollarized. Do you believe that time = money? How much is your time worth? How much is your customer’s time worth?
But I’m a masseuse how can what I do be justified in terms of either money or time earned or saved? When your client’s leave you do they feel better, more relaxed than they did when they came to you? Is it possible that as a result of feeling more relaxed there thinking is clearer? Their creativity could be ratcheted up. As a result of your excellent massage your client may just simply work better / more effectively. Consequently earn more money. Maybe if your client did not get their regular massage they would be less productive. Hmmm.
What you sell can and should be Dollarized. If you think what you sell cannot be dollarized keep asking yourself what benefits does my product or service provide and keep asking that question until you find the money earning or money savings in what you offer.
Today’s champion salesperson does sell the two things that all of your customers want.
1. A solution to at least one of their concerns.
2. To be made to feel important.
But in addition to that today’s champion salesperson also sells Money.
“Go forth and be prosperous salesperson because everyone in your circle of family and friends needs for you to be successful”
For more information on Dollarization read the classic best seller “How to Become a Rainmaker” by Jeffrey Fox c 2000

 

Brian K McNeill
Very Personal Sales Coaching
919 345 4893
www.verypersonalsalescoaching.com
Brian@verypersonalsalescoaching.com please feel free to email your comments
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