In every industry, there are 3 types of salesman. The bottom, the average, and the top.
Most salesmen belong in this group. They are here because they are afraid.
They are afraid that their propsects would say no to them. So what they often do is to sell based on price.
They go to their prospects, thinking that there are no reasons for their prospects to reject them because they have the lowest price.
And of course, most of the time, their prospects reject them.
Cheap things seldom need salespeople. They sell by themselves. Things that need salespeople are rarely cheap.
Bottom class salesmen simply do not understand that people do not take out their wallets just because things are cheap.
Sadly, most bottom class salesmen will not survive for long if they do not realize this.
A good proportion of salesmen belongs to the average group.
The average group of salesmen based their selling on needs, aka needs based selling.
This is the safest route, after price based selling. After all, that’s why society defines as “ethical”. The government approves it, especially in the financial services industry. You can’t sell above what the prospects need, right?
Needs based selling isn’t exactly wrong in the ethical sense but the problem is that if you sell solely based on needs, you should not really call yourself a salesman either.
Rather, you should call yourself a customer service staff. Because you are just processing a transaction.
Needs based selling seldom excite the customers enough for them to pull out their wallets.
Then, you have the top. These are the masters of sales. The big question is how do they do it?
Top salesmen don’t sell based primarily on price or needs. The top salesmen sell based on helping their prospects realize their dreams.
Put yourself in the shoes of a customer. Wouldn’t you get excited if someone can help you realize your dreams? Rather than just meet your price and needs?
Selling customers on their dreams can be done through sincerity and honesty. And helping customers achieve their dreams isn’t too different from helping them achieve their needs either.
Here’s an example:
A prospect is looking for a home. He says he only has the budget for a 10th to 15th floor unit.
The bottom salesman will propose a unit on the 10th floor.
The average salesman will propose a unit on the 15th floor.
And the top salesman will take his prospect to the highest unit in the building and take his breath away with the sunset across the horizon.