Chapter 29: Reasons and Excuses for Buying

Key Concepts

Tangible vs. Intangible in Sales

• Tangible Reason: The concrete, physical aspect of the product (e.g., a lot on a lake).
• Intangible Excuse: The emotional or psychological benefits (e.g., serenity, lifestyle improvements).
• Strategy: Provide the tangible reason for logic but emphasize the intangible for emotional appeal.

Examples of Tangible and Intangible

• Lake Lot:
  • Tangible: The lot itself.
  • Intangible: Spring-fed lake, use of golf course, peaceful nature trails, serene environment.
• Sales Closing Technique: Shift discussion from tangible to intangible benefits to justify the purchase.
  • Closing Statement: Relate the purchase to deserving enjoyment from past hard work.

Reassurance for Prospects

• Four Basic Reassurances Needed:
  1. Validity of the purchase (fair pricing, legitimate organization, solid integrity).
  2. Confidence in the salesperson to counter fear of inflated prices.
  3. Sense of fairness (past negative experiences influence prospects' caution).
  4. Social approval (concern for opinions of family, friends, and colleagues).

Selling Future Enjoyment

• Purchasing Vision: Buyers purchase the future enjoyment rather than the product itself.
  • Examples: Shade of trees, warmth of fireplace, joy of motorboating, luxury of a heated pool.

Case Study: Harvester System

• Product Description: Storage unit that reduces grain spoilage and increases meat productivity.
  • Tangible Benefits: Financial savings, less work required.
  • Intangible Benefits: More free time, ability to take vacations, higher likelihood of children staying on the farm.
• Sales Strategy: Provide both tangible reasons and intangible excuses for buying.

The Toughest Prospects as Teachers

• Learning Through Challenges: Difficult prospects help salespeople refine their skills.
  • Progressive Objections: Initial strong objections weaken over time.
  • Moral Obligation: Salespeople should believe in the benefit they provide to prospects.
  • Persistence: Stay engaged until it is clear that the prospect has no interest.

Natural and Urgent Closing

• Smooth Transition: Integrate the close seamlessly into the sales process.
  • Urgency for Action: Encourage immediate decision-making to close the sale.

This chapter emphasizes the importance of combining tangible reasons with intangible excuses to effectively sell products, particularly non-essential or luxury items. It also highlights the need for reassurance, learning from challenging prospects, and closing the sale with a sense of urgency.