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Effective Sales Tactics
Jul 20, 2024
Effective Sales Tactics
Introduction
Learned powerful sales tactic by accident
Included in the upcoming 100 million dollar sales book
Effective in gaining trust
Taught to others, resulting in up to 90% close rates
Initially used in retail environment selling supplements
Origin Story
Selling supplements at a gym
During a nutrition orientation, running out of a key product
Instead of skirting around the issue, transparently recommended a cheaper alternative
Realized that transparency built trust and increased sales
Concept of Ghost Products
Initially called sacrificial lambs, now referred to as ghost products
Over time, stopped carrying some products and used them solely to build trust
Key idea: recommend lower-margin products from elsewhere to build trust
Main products to sell are high-margin items
Trust-Building Tactics
Act in the customer's self-interest
Make them feel you are not taking advantage of them
Gain trust by recommending cheaper alternatives or products they don't need
Example: Recommending products they can buy cheaper at other stores
Prescriptive Close Strategy
Explain benefits and exact usage of products before asking for purchase
Associate product usage with existing habits (e.g., taking pills with morning routine)
Make the buying process easy with minimal decision-making (one-click upsell)
Handling Objections and Budget Concerns
If cost is an issue, prioritize products by necessity
Reinforce importance of items removed from the list
Reintroduce the problem solved by the product to justify its importance
Find areas in customer habits to save money for essential products
Practical Application and Tips
Get lots of reps in high-volume, low-ticket environments (e.g., car washes, salons)
Helps build sales skills faster than courses
Useful for moving to higher-priced sales
Work within existing sales processes to gain experience
Example of Transparency in Services
Web design services: Recommend non-core services to cheaper vendors
Build trust by seeming to work on the client's side
Core Principle
Move psychologically from across the table to sitting side-by-side with the customer
Work together with the customer to make the best decision
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