August 19, 2016 — This week I’m going to reveal the best kept sales secret in the timeshare industry and to understand that secret the following simple truth must also be acknowledged. ‘Closing’ can be as much of a challenge as is the heavy lifting that’s required during the initial sales presentation with one yuuge exception. If it ain’t first sold – ain’t nobody buyin’ nothin’ I.E. When the vacation plan isn’t convincingly sold in the first place even the best closers (T/O’s) will find it extremely difficult to save the day and close the sale.
So Here’s The Scoop: You are probably and rightfully thinking, OMG, who doesn’t know that? But what you may not know is that the standard T/O sales system, in terms of the sales center teams’ overall net closing ratio (CR) is doomed from the get-go. That is why, in part, the majority of timeshare ‘rooms’ around the world generate a net YTD (year to date) CR a little above, at, or below 20%.
It is also true that some sales centers/teams do much better. But as a general rule the majority of T/O systems are not actually set up to sell, sell and sell. Instead they are merely a process that requires each front-end rep to follow the established guidelines within a set amount of time – and then, of course, call for ‘assistance’ (T/O).
The plain truth is the basic TS selling (T/O) model is NOT professional sales/selling; whereby the presentation requires the rep to adapt, modify, be flexible and match as near as possible the prospects’ needs to ‘a’ vacation plan that best suits their needs.
The often one size fits all selling and closing approach that began more than five decades ago in our industry continues to be an underperforming antiquated system and the worldwide industry STATS clearly authenticate the assertion.
For the naysayers, consider for a moment that most TS reps/closers use the same selling and closing tactics with the newly wedded couple in their late 20’s as they do with a married couple in their mid 50’s who have been together for decades.
Obviously those two sales guests are as different as night and day. They have different lifestyles, needs, wants and desires, etc. – and, wait for it Bubba; different VACATIONING NEEDS and of course BUDGETS!
Which leads me back to what I also mentioned in Part 1: Another secret for becoming a 40%’er (CR) is that regardless of what anyone may suggest; selling/closing is all about prejudging so to become a 40% rep/closer – ALWAYS PREJUDGE your sales guests.
Stop! That does not mean take short-cuts during the presentation or closing sequence. If you are going to be a 40% ‘producer’ whether you are on the front or back end, every sales guest you encounter must receive a complete, thorough, informative, entertaining and upbeat selling and closing effort.
Every sales guest must also be handled respectfully, professionally and courteously because the fact of the matter is that during the brief time they are with you they are most important people in your life.
So prejudging does not begin the minute you shake hands. Not the second you discover they are from XYZ, Hometown Somewhere. Not by how they communicate. Not if they aren’t as well dressed as you think they should be and surely not because they remind you of other sales guests you’ve encountered whereby all did, or did not, go well (aka: ‘Sale’, ‘No-Sale’)
The prejudging should only begin AFTER you have had a chance to meet and greet ‘em, to warm ‘em up, do the survey, etc. and about the time you’re ready to break the old pact that’s the time to analyze and access the information (‘discovery’) you’ve accumulated (so-far) about the prospect(s).
And that is where the next phase of becoming a 40%’er plays into the scheme of things. From the initial meet/greet and throughout the entire sales/closing process listen and listen very closely to what each sales guest has to say including any ‘strokes’, etc.
Get them involved and let them ‘chat’ and when they do – absorb everything they are saying because every sales guest will, if you will allow them to do so, tell you and/or leave hints as how best to sell and ultimately close them. In fact, many will go out of their way to do so and they’ll do part of ‘your’ job if you’ll just let ‘em.
Lastly it all boils down to this, and I’m not taking anything away from the talents of the good and/or best closers but some closers often have a tendency to walk about the sales center prancing and farting as if they are the superstars and in many instances they are. As such, as a general rule, ‘the-biz’ (management, etc.) treats them in such a manner.
But the real superstars are the best front-end reps and many closers know that to be true, which is why they clamor to go in ‘behind’ those ‘liners’. Many sales managers also know that to be true which is why some of them would darn near trade their souls to have as many outstanding front-end reps on their sales line as they can attract.
As such, the best kept sales secret in the timeshare industry begins with each rep’s attitude and approach starting with the meet/greet phase and how each prospect, as outlined herein, is treated by the rep.
And that includes the 50% of sales guests I mentioned last week who should not be in the sales center in the first place.
You see, using the individual rep’s VPG you can see that each rep is actually earning an income each and every time they meet and greet a sales prospect, including both the 50% who should not be in the sales center as well as the 50% they meet/greet and then sell to who should be in the sales center.
And when that fact is totally understood the reps (and closers) will be well on their way to achieving and maintaining the 40% (sales/closing) factor.
Good Luck Out There
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