How do you actually sell high-ticket items when you know you won’t be able to buy them yourself because they’re too expensive? Hmmm… Today’s guest is Stephanie Chung, a business coach, and an entrepreneur, and she is going to teach you how to get past the challenges of high-ticket selling, specifically overcoming that mindset you’ve instilled in your head over the years.
Previously, Stephanie has been an executive and a sales professional selling jets, perfect for our topic today. Regardless of how much you’re selling, you’re going to get some great insights from her. Stephanie helps individuals and businesses bring more money into their top line sales focused on leadership, communication, and high-ticket selling.
Here are the highlights of my conversation with Stephanie Chung:
Lessons from Stephanie’s coolest sales experience when she was the customer at a car dealership:
- Touch base with your customers all the time.
- Show the customer you care and you want to help and you become top of mind.
- Sales is not just about closing the deal but the customer experience. into closing the deal.
Biggest challenges with selling high-ticket items:
- Controlling your own financial beliefs
We all have our own financial beliefs but It should never pop up in the sales conversation. How was money discussed in your home? Most likely, you’re brought up in a way that you will be discounting the product or you’ll be offering freebies. When that creeps up, control it.
- Using a “one size fits all” approach
Buyers have a process as well so make sure you’re coming to them correctly in a way that they’re comfortable throughout the entire process. If you communicate with everybody based on how you prefer to be communicated with, that puts the burden on the buyer and they’re going to shut you down eventually.
- Lack of training
People need to be trained on things other than just your product. This gives them a disadvantage when talking to a customer because all they know are the things pertaining to them and then you try to squeeze people into your product or service whether it works for them or not because you only know one side of the equation.
- Lack of investment in sales training or coaching
The main job of sales is to bring the money in. If you’re expecting them to bring in worth thousands and millions, aren’t they work training? There is a skill to sales so people have to be trained on it. Being a good people-person is not enough. There is a psychology and a neuroscience behind the buying decision-making process.
- Knowing the numbers
People have to have business acumen and understand the business part of what they do. Your salespeople need to know the numbers you’re trying to hit as a company so they can understand the business they’re in and what’s driving the business and where the business is trying to go.
How Stephanie got into selling airplanes:
Stephanie was a military brat who grew up on active military bases and around planes. She eventually got into sales and recruited into private aviation selling jets.
Selling to high net worth individuals so she had to grow and adapt and learn and get used to being around wealthy and smart people
You cannot bring your financial beliefs into the equation. You have to act like you’ve been there.
The Neuroscience Behind Asking versus Telling:
- When you ask someone a question, there’s a dopamine effect that the brain starts to produce so they start to feel good.
The more people talk about themselves, you not only get information but also, it allows the person to feel they like you because you made them feel special by asking the questions and listening to them.
- The brain can process up to 3,000 words per minute.
We can talk no more than 300 words per minute while the brain can process up to 3,000 words per minute. You should be asking questions so they’re doing the talking and your brain has the opportunity to listen but then also be thinking, exploring, digging deeper, and asking more questions to get better clarity on what they’re saying.
Stephanie’s Major Takeaway:
Make sure you always have the training, the knowledge, and the coaching. Always be out sharpening your game and your skill set because it’s a competitive market out there.
Check out Summit on Content Marketing on May 22 to June 02, 2017. This is an online event that will be participated by over 100 speakers, including me!
The Sales Manager’s Guide to Greatness: Ten Essential Strategies for Leading Your Team to the Top by Kevin F. Davis
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