Monday, October 12, 2009

How to Make Your Business More Sellable than a Case of Coors Light at Denver Broncos Tailgate Party

You could be the greatest salesperson in the world.

But if you’re trying to sell an unsellable product, that doesn’t matter.

Any number multiplied by zero is still zero.

The real issue isn’t, “How can I get people to buy?” but rather, “What could I do to make my business more sellable?”

Let’s explore five strategies for boosting sellability:

1. Be picture perfect. In an article called, “How to Make Your Car More Sellable” on www.autotrader.com, I learned an interesting factoid: “Online car buyers like photos. Very rarely does a person spend a consistent amount of time viewing a listing without them. If they're willing to drop several thousand dollars, they will want to see what they're putting their money into.”

Lesson learned: Buyers need proof. No matter what industry you’re a part of. We live in a sales resistant culture that demands you show people your bonafides. Secure the legitimacy of your product by proving you’ve got nothing to hide. Pictures, pictures, pictures. Is your product camera friendly?

2. Post your fee publicly. I’ve been doing so since I started my company in 2002, and I’ve NEVER regretted it. For several reasons. First, posting your fee demonstrates transparency. It helps you brand your honesty in a low-trust environment. For example, instead of just quoting your fee spontaneously (and running the risk of prospects wondering if you just pulled that number out of your ass), just email them a link to your fee schedule page.

Second, public fees qualify your leads and cut out no-money prospects you don’t want to waste your time talking on the phone with anyway. It’s a great time saver AND saves you from rejecting prospects in person, which nobody likes. Finally, posting your price helps you maintain fee integrity when someone asks you for a discount. For example, “Come on Scott! Can’t you do it for less?” a customer asks. And you respond with this:

“As you know, Mr. Jackson, my fee is posted on my website. So, in order to be fair to everyone – and to maintain the integrity of my value – I cannot offer you a lower price. I hope you understand my position.”

So, I’m not suggesting you NEVER negotiate. I certainly do. The secret is setting a precedent of value. Are you willing to stick yourself (and your fee) out there?

3. Make your product a blank canvas. Sellability is crucial in the real estate industry – especially for residential properties. British real estate columnist Serena Cowdy explained in a recent article on Wallet Pop UK, “One person's 'eclectic chic' is another person's 'big old mess'. Viewings aren't the time to display your quirky set of African burial relics or your enormous collection of comedy mugs.”

Lesson learned: In our highly individualized, “customer first” culture, buyers seek permission to stamp their own personalities on a new product. Your challenge is to make it easier for them to imagine doing so by presenting a blank canvas. Sellable equals customizable. How are helping your customers make it THEIRS?

4. An Apple a day keeps the bankruptcy away. According to a survey by www.Engaget.com, when the first version of the iPhone was released in January of 2007, it took seventy-five days to sell one million units. When the new iPhone 3G came out eighteen months later, it only took four days.

What happened? Increased sellability. And Apple accomplished that by offering faster data speeds, assisted GPS, boosted the camera megapixel rate, added video capability and enabled voice control. I know that’s why I bought one. What new features and benefits would skyrocket your sales?

5. Unsellable art. In February of 2008, three masked men pulled off one of the largest art heists in decades. According to the article in The Washington Post, they stole four paintings by impressionist and post-impressionist masters Cezanne, Degas, Monet and Van Gogh. The art was worth an estimated $163 million.

Interestingly, museum director Lukas Gloor explained, “The stolen paintings were so well-known that, on the open market, these pictures are unsellable.”

Wow. Maybe getting known and being famous (in certain contexts) can work against your sellability. Maybe being TOO good and TOO perfect and TOO rare scares buyers away. Is your status your enemy?

REMEMBER: You can’t make people buy.

All you can do is increase the probability of a sale by becoming more sellable.

LET ME ASK YA THIS...
How sellable are you?

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For the list called, "11 Ways to Out MARKET Your Competitors," send an email to me, and you win the list for free!

* * * *
Scott Ginsberg
That Guy with the Nametag
Author, Speaker, Coach, Entrepreneur
scott@hellomynameisscott.com

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