Turning Little Dollars into Big Dollars — Tom Hopkins
A challenge I’ve always had in training people is convincing them that no matter what their product or service is, if they follow the techniques of a Champion, they can earn a large income.
We have a tendency to believe that the salespeople who earn large incomes probably sell million-dollar products. That’s simply not true in all cases.
Do you know what the truth is? Regardless of the investment for your product or service, you can earn a large income by serving the needs of the right number of people.
Some sales professionals will choose to market a particular product or service just because they think it will give them the best opportunity to make the income they desire. That’s the wrong way to choose what you market. You must sell a product that you truly believe in. Whether it’s worth $3.00 or $300,000 isn’t the issue.
The key to true success with your products is to understand the potential volume of sales that can be made. One of the biggest mistakes salespeople make is to market their product to someone and stop there. They don’t open their minds to generating more sales from each client.
Here are three steps to turning little dollars into big dollars:
Almost everyone who owns your product will want more of it. Whether they get it from you or not will depend on how well you serve them once they become clients. For example, do you know how many automobiles the average family in America owns? 2 1/2.
So, why do so many automobile salespeople only work on selling them one car? They don’t think to ask about the spouse, mother-in-law or teenager in the household who might also have a need. Always remember, if they invest in one of your products, there’s a good chance they’ll take more.
Adding on to a sale involves helping the client see the value of options. If you’re selling computers, these would include the peripherals such as printers, scanners, removeable drives, wireless keyboard, etc. If you sell insurance, go for the initial sale of life or auto, but then help the client review their overall needs and show them the benefits of having it all with one company. If you sell furntire, never let a client purchase a single item. Always engage them in conversation about the decorating accessories or other components of a set of furniture. Invest a few moments right now in listing some of your most satisfied clients. What do you have to offer that you haven’t discussed with them? You might be surprised to learn that they have needs you hadn’t thought of, but can serve.
Sometimes the answer to adding on to existing sales involves coming up with volume discounts, reminder services for re-ordering, training sessions that bring out their needs, a portable version of your product or an extended warranty. Even fast food restaurants train their teams to ask if you “want fries with that.”
3. Sell them in bundles.
If the main office invests in a new copier, might not the satellite offices need to upgrade their equipment as well? Suggest a multiple purchase and offer a discount.
The point is to never settle for moving a single product from your hands to theirs. Always be ready to suggest other options but only do it after you’re confident that you’ve closed the initial sale.
Tom Hopkins International
7531 E. 2nd St., Scottsdale, AZ 85251
Tel: (480) 949-0786 or 800/528-0446 Fax: (480) 949-1590
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