Research has shown that spendthrifts make up about 15% of the consumer market. But just because they tend to spend more than the average person does not necessarily make it easy to sell to them. After all, there is a good deal of competition out there, so you need to be clear about the value you offer compared with other options on the market.
Show You Understand Them
The best way to sell to any audience is to understand their “pain points,” the things that cause them the most difficulty in relation to the niche or industry you are working in. By knowing the most common things that cause them problems, you can offer them solutions to their concerns. If you can make their lives easier, and rest more comfortably at night, they will be willing to dig a little deeper.
Speak to Their Emotions
You’ve heard this advice before. Many marketers make the mistake of thinking that purchases are driven by logic. The truth is that buying decisions are driven by emotions and then justified by logic. If you’ve ever given in to an “impulse buy,” you will know this to be true. You spend the money and then come up with reasons why you “need” it. (Next time we meet I’ll tell you about the night in Kansas City when I purchased a bolt-sucking vacuum at 3 a.m. in the morning. True story.)
Create Great Offers
Smart marketers use what are called sales funnels. They have a sales letter, a 5-Reason Sheet, a short list of testimonials and a number of ideas along with thank you emails and templates all prepared so they can market their product, establish engagement, accept a trip deposit, and make sure their customer receives all the attention required without reinventing the wheel.
Your offer should list the features of the trip and the benefits they will receive from selecting your particular itinerary suggestion. Make the offer sound so attractive that it will be a no-brainer for them to want to buy.
Some trainers recommend that you now focus on the “upsell,” when you introduce an offer of higher price now that you have the client’s attention. I do not endorse this practice for one very good reason. It borders on deceit. A better approach is to simply sell what is right for your client given the current set of circumstances. If it cost more, so be it. If it cost less, better for your client. Your job is to value-pack their itinerary resulting in a fabulous experience for all involved. Do what is best for your client, and you can’t go wrong.
These methods can make spendthrift buyers even more eager to shop. Try them and see what a difference they make to your profits.
Mike Marchev has plenty of stories, strategies and tactics to keep you on top of your game. Ask to be placed on the distribution list to receive his periodic Motivational Memo. Click Here to Join Now.
For information on Mike’s 6-Week Online Selling Course, email Mike at firstname.lastname@example.org with the words “sales course” in the subject box.