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