Having a hard time converting prospect into buyers?
Having a hard time converting prospect into buyers?
If you want to significantly increase your conversion rate and the number of customers buying from you, this will be the most important article you’ll ever read.
Here’s why:
In a minute I am going to show you one strategy you can use on your very next meeting with a prospect that could triple your success rate, just by following a simple process.
But first, let me tell you a little about myself. My name is Lei Wang and I have made my clients hundreds of thousands of dollars as one of the leading education marketer. Over time I have discovered an important process to structure my sales presentation, which quadrupled my conversion rate and each sales range from $1,000 - $15,000.
“The four steps that will make customers hunt you down and practically beg you to take their money”
Step 1: Finding the pains
If most of your prospects are excited by your presentation but have completely cooled off a day or two later, you are probably very good with building rapport, but went straight from melting the ice to offer a solution, without having diagnosed the pain.
There are certain questions I ask when approaching a prospect to diagnose their pains:
1. How are you conducting your marketing campaigns?
2. How much are you investing in marketing?
3. How many new clients are you getting?
You must ask the right questions to get the right answers. Sometimes you won’t get an answer straight away, you may have to ask the same questions in 5 or 6 different ways before you get a good answer. There is no point in continue talking until you have uncovered a prospect’s primary motivating factor to purchase. Remember that your product or service is only the solution to pains your prospects want to avoid.
Step 2: Creative solution
Once you have diagnose the pain, structure you entire presentation based on the solution, explain to your prospect exactly what’s causing the pain and what you are going to do to eliminate the pain.
My prospects love it when they hear me say:
“I’m going to show you how to double your sales within 6 weeks…”
OR
“Here’s what I think you should do to eliminate $26,000 in wasted advertising”.
Now admit it. When you hear this, you want to know more, right? With a extra $26,000 in your pocket you can do a lot of things. You can buy a new car or take a trip around the world!
Once I get the prospect’s attention, I will explain exactly where they are wasting their $26,000 advertising dollars, how the cost can be eliminated, or reinvested in other channels with great return on investment, and how to set up a tracking system to monitor the result.
Step 3: Test commitment
If you are aiming for the high end market, be upfront with your fees, and NEVER state the amount in the proposal without first discussing it with the prospect, otherwise in most cases you will never hear from them again.
Here’s some thing I practised over the years - learn to keep a straight face when asking for fees. Your prospect can sense any bit of self doubt from you. If your prospect say “yes” on the spot, and you are not getting any price resistance, that usually means you are selling it too cheap.
If you want your prospect to be shocked at the price you charge, they should be shocked at how high it is not how low it is. Don’t be afraid to charge high prices, the market will accept whatever price you ask for, providing you do a good job in marketing.
Step 4: Closing
When you hear your prospect say “I’ll think about it”, that will usually mean two things, they are either interested or they are not interested.
If you response with “no problem, take your time and give me a call when you have questions”, 90% of the time the sale is lost, so find out what is holding them back, or offer an cheaper option if they are hesitating over price.
If you want to find out "How to Advertising Without Spending $1 on Advertising"; visit my website by clicking on the link at the end of this article, and sign up for your *FREE* Marketing Lessons.
Having a hard time converting prospect into buyers - To learn more about this author, visit Lei Wang's Website.
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Invest just a few minutes and you’ll discover the single most important reason why you are not getting enough sales and 4 steps to get all the new customers you’ll ever need.
If you want to significantly increase your conversion rate and the number of customers buying from you, this will be the most important article you’ll ever read.
Here’s why:
In a minute I am going to show you one strategy you can use on your very next meeting with a prospect that could triple your success rate, just by following a simple process.
But first, let me tell you a little about myself. My name is Lei Wang and I have made my clients hundreds of thousands of dollars as one of the leading education marketer. Over time I have discovered an important process to structure my sales presentation, which quadrupled my conversion rate and each sales range from $1,000 - $15,000.
“The four steps that will make customers hunt you down and practically beg you to take their money”
Step 1: Finding the pains
If most of your prospects are excited by your presentation but have completely cooled off a day or two later, you are probably very good with building rapport, but went straight from melting the ice to offer a solution, without having diagnosed the pain.
There are certain questions I ask when approaching a prospect to diagnose their pains:
1. How are you conducting your marketing campaigns?
2. How much are you investing in marketing?
3. How many new clients are you getting?
You must ask the right questions to get the right answers. Sometimes you won’t get an answer straight away, you may have to ask the same questions in 5 or 6 different ways before you get a good answer. There is no point in continue talking until you have uncovered a prospect’s primary motivating factor to purchase. Remember that your product or service is only the solution to pains your prospects want to avoid.
Step 2: Creative solution
Once you have diagnose the pain, structure you entire presentation based on the solution, explain to your prospect exactly what’s causing the pain and what you are going to do to eliminate the pain.
My prospects love it when they hear me say:
“I’m going to show you how to double your sales within 6 weeks…”
OR
“Here’s what I think you should do to eliminate $26,000 in wasted advertising”.
Now admit it. When you hear this, you want to know more, right? With a extra $26,000 in your pocket you can do a lot of things. You can buy a new car or take a trip around the world!
Once I get the prospect’s attention, I will explain exactly where they are wasting their $26,000 advertising dollars, how the cost can be eliminated, or reinvested in other channels with great return on investment, and how to set up a tracking system to monitor the result.
Step 3: Test commitment
If you are aiming for the high end market, be upfront with your fees, and NEVER state the amount in the proposal without first discussing it with the prospect, otherwise in most cases you will never hear from them again.
Here’s some thing I practised over the years - learn to keep a straight face when asking for fees. Your prospect can sense any bit of self doubt from you. If your prospect say “yes” on the spot, and you are not getting any price resistance, that usually means you are selling it too cheap.
If you want your prospect to be shocked at the price you charge, they should be shocked at how high it is not how low it is. Don’t be afraid to charge high prices, the market will accept whatever price you ask for, providing you do a good job in marketing.
Step 4: Closing
When you hear your prospect say “I’ll think about it”, that will usually mean two things, they are either interested or they are not interested.
If you response with “no problem, take your time and give me a call when you have questions”, 90% of the time the sale is lost, so find out what is holding them back, or offer an cheaper option if they are hesitating over price.
If you want to find out "How to Advertising Without Spending $1 on Advertising"; visit my website by clicking on the link at the end of this article, and sign up for your *FREE* Marketing Lessons.
Having a hard time converting prospect into buyers - To learn more about this author, visit Lei Wang's Website.
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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