Get your day off to the right start with your own MORNING MEETING. A Timeshare Sales Tip of the Day and a daily blast of music for your enjoyment! Published Monday thru Friday.
REMEMBER: Hey, if it was ‘free’ at the end of the sales presentation what sales guest wouldn’t become a timeshare owner?
Surely not everyone but a heck of a lot more than the industry’s (appalling) average closing percentage of 15% (according to ARDA) and that’s for damn sure!
There are several reasons for such a dismal industry wide closing percentage and for today’s morning meeting we’ll leave most causes for other MM’s and, assuming a sales guest was ‘sold’ in the first place, we’ll look at one important way to increase those sales/closing percentages.
When most people are looking to acquire anything that costs more than ‘pocket-change’, without exception they are always looking for a discount and/or attempting to get the seller to bring down the price before they willingly buy.
As an example, most people will never pay sticker (asking) price for a car, a boat, an RV, a home, etc. and even on the lower end (like vacuum cleaners, furniture, etc.) they are always looking for a deal.
As we discussed in another MM it is always a good idea, long before the ‘close’, for the timeshare rep to drop a hint that from time to time the developer has some ‘incredible’ specials (aka: discounts).
But even with such a prior notification the normal process, once that ‘asking-price’ is out on the table (aka: ‘closing’ time), is for the ‘closer’ to set up a price drop without so much as getting the buyer to first ‘fess up as to why they are objecting to the ‘asking-price’.
And by ‘objecting’ I don’t mean (e.g.): “Oh, gee, that is just way out of our budget” or “gosh, we have the kids to get through school; I might lose my job; we’re taking care of Grandma; we just lost 17 zillion dollars on a bad investment…” and so forth.
Those sorts of responses are usually not actual objections and that is where the ‘ball’ is dropped by most closers every single time, because they immediately hear those ramblings and go into their ‘drop’ mode only to have those ‘excuses’, with each drop, keep coming right back at ’em (the closer).
So, starting today, when the deal is ‘sold’ and the ‘asking-price’ is out in the open and there is no shortage of financial excuses being offered up as to why the prospect can’t ‘afford’ to be an owner (today), the rep’s (closer’s) job now becomes finding out how the sales guest basically feels about that gosh darn ‘asking-price’.
I.E. Find out their perceived value Vs the cost!
If the prospect sees the value at (e.g.) $60-K and the price is 1/2 that amount then (in the real world) they’d see the ‘asking-price’ as an incredible deal, sell their first born and jump on it in a nanosecond!
On the other hand, if their perception of ‘value’ is (e.g.) $8,000 Vs the asking price of $60-K and that little reality isn’t discovered before the drop process begins, then each price reduction will actually lower the prospect’s perceived value further and the deal will be lost more often than not!
By using the ‘asking-price’ as the great battle line to discover the sales guest’s (value) perception and then with that accomplished, out in the open and dealt with accordingly, the savvy timeshare Pro will sell/close more deals and laugh all the way to the bank.
TODAY’S VIDEO: David Bowie – Let’s Dance
(To view ALL of the Morning Meeting sales tips and videos, click here.)