October 21, 2016 — I often receive some interesting e-mails and recently someone well known in our industry wrote me regarding timeshare marketing, sales, training and management, saying that I am “clueless”. That is fine because I appreciate the interaction including everyone’s opinions and thoughts. That said, I briefly responded to this individual by saying that I would answer the charges in this week’s column and I encouraged this person to come back, read my ramblings and then if they care to they could post their comments below — anonymously if they prefer.
So Here’s The Scoop: For readers who do not know, I have been in this industry for decades and have successfully held positions in each of the areas in which I have been accused of lacking wisdom and sound judgment — and that includes ‘C-Level’ positions. Oh, and during my ‘selling/closing’ era on those magical little round tables I personally closed in excess of $14 Million and during my tenure as a F/B’er (front to backer) my net YTD VPG was consistently in the $5,800 neighborhood.
I must also include that I accomplished that figure while selling and closing ‘clean’ and I might as well add that my net closing ratio always ranged in the 50% + arena. I could add more bonafides, but will get on with my response to the person I will call ‘X’.
Dear ‘X’: Basically, in the real world of professional selling, as long as a product or service is viable, as long as there is a market for said product or service and as long as there is a means to make said products or services affordable, at the end of the day maximum net sales mostly only requires the 3 Q’s in order to achieve the highest possible closing ratios, sales volume, revenue and profits.
The three Q’s are: 1.) A Quality prospect – 2.) A Quality professional sales presentation – 3.) A Quality professional closing process and sequence!
It is just that simple, ‘X’, a formula that has yielded the highest net sales results since the dawn of commerce; a trend that is not likely to cease and a historically proven process that will likely never be reinvented.
And, ‘X’, the truth of the matter is that as a general rule all around the timeshare world over the past 50 + years, for most developers the 3 Q’s have never been their overall business model or strategy when it comes to marketing, selling and closing.
For example, ‘X’, in the Land of Time, as we all know, a “quality prospect” has been and continues to be almost any sales guest who is usually between the ages of 25 and 75.
Throughout many of those decades that qualification also included single individuals (and often still does) and whether the sales guests are single or couples, their capability to vacation on a regular basis and/or their actual disposable income to afford to vacation regularly often has not been included in most developers’ income qualification requirements.
As for “a quality professional sales presentation”, for the most part, as an industry, like the sales guests, we continue to pretty much hire nearly anyone and everyone with a heartbeat and then provide them little to no real sales training other than quickly showing and demanding the new peeps stick to the same selling script including the basic “T-Pitch” and to then ‘flip the table’ to the T/O (Closer).
Then there is the “quality professional closing process and sequence”. That, too, in our industry has not been structured on the historically proven closing techniques and procedures that continue to yield the highest net results in every industry including our own.
For example, instead of qualifying the objection, boxing and isolating the objection followed by resolving (overcoming) the objection and closing the sale, many closers either lack those mandatory closing techniques or, sadly, think the best approach is to (e.g.) get all exotic, pitch heat and/or use nose bleed drops including ‘spinning to win’ so they can sit on as many tables as they can while looking, in part, for the laydowns.
Of course when that method works, and it surely does, on the back side of those techniques are planted the seeds of excessively high rescissions. But as long as the numbers are hit most developers will continue a 50 + year trend that also incurs massive losses in sales volume equal to or greater than what they produce.
‘X’, I shall not take up any more of your time today other than to thank you for your input and to invite you and anyone else who still believes I’m “clueless” to feel free to post comments below and/or e-mail me and clearly demonstrate my naivety and the error of my ways because the aforementioned losses, year after year, continue to increase exponentially. And they are yuuge losses – that I can tell you.
Good Luck Out There
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