March 21st 2011
Selling to the New Elite. Discover the secret to winning over your wealthiest prospects. Jim Taylor, Stephen Krause & Doug Harrison.
Cover via Amazon
Selling to the New Elite. Discover the secret to winning over your wealthiest prospects. Jim Taylor, Stephen Krause & Doug Harrison. 2011. 978-0814416532. The authors have been surveying the buying habits of the affluent over the last five years (10 000 interviews and counting). That would be enough to purchase this book, but these is more , much more. The first 75 pp. detail the attributes, behaviors and attitudes of successful salespeople. That is worth having for any salesperson who wishes to improve. Lots of lessons learned:
- The perception of the salesman to their role, and his/her skill set correlates 2x with success than testing attributes.
- Optimists outsell pessimists
- A passion for sales is important
- only 1 out 3 salespeople is really engaged in their work ( ie 2 of them are not good at it and they are likely calling you tonite)
- The top 5% of US sales people have annual income around $420k with liquid assets of $3M
- Facebook is like a telephone – a tool to socialize with, but seen as intrusive for marketing
- Social media can be used for listening about your clients ; A new job, new venture, job promotion, travel plans.
- Create the detail rich stories that show how you love your job, what you are selling and everything about it -show your passion.
- The affluent had an emotional recession that preceded the economic one by 18 months and they see it lasting another year more.
- You need to increase your value, not lower your price to get the deal.
- Killer words today are value, values, savings, deals and best
- A great brand promise has truth, meaning and distinctiveness
An easy read and well worth time.
Related articles
- How Salespeople Use Social Media Survey (salesandmanagementblog.com)
- When we haven’t sold any value (empwaynek.wordpress.com)
- For the wealthy, a return to luxury spending (usatoday.com)
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Category: Lifeskills, Sales, Sales Efficiency
Reg, thanks for the excellent post. Your summary of the key points is itself quite educational. Three points especially caught my attention:
1. Optimists outsell pessimists. I have worked with hundreds of enterprise sales reps and virtually all the good ones were/are optimistic.
2. A passion for sales is important. Those who are not passionate are seldom successful but they always have good excuses (product, boss, economy, marketing, etc.)
3. You need to increase your value, not lower your price to get the deal. Value selling can lead to faster and more lucrative deals.