Question

Topic: Other

Locking In The Sale With Upper-class, Moguls, Etc.

Posted by Anonymous on 3/3/2009 at 10:22 PM ET 125 Points
I'm a small business with an artistic product. I sell 2 t0 3 units per years. Ranging from 125k+. My product is in a league of its own and I've been called a visionary but my industry is considered small. Upper-class customers contact me to buy my product. I'm the only one in the world to offer this specific concept so they cant go anywhere else to get it. I've had 4 sales in the past six months that I haven't been able to close on. I'm a master at my craft but I seem to have trouble closing/locking in the sale.

How do I lock-in the sale with someone that has contacted me but has limited time, expendable funds, and a taste for outrageous, expensive toys?
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RESPONSES

  • Posted on 3/3/2009 at 10:56 PM Author
    It's not so much a question of them wanting to buy it. Afterall, they are contacting me becuase they want what I make. My issue is more less dealing with a person that has limited time. Lets face it, business comes first and the toys come second. I need to keep them hot enough so that I can close the deal which usually takes a few contacts because it is an artistic piece that is made to order. I understand "strike while the iron's hot" but it takes some communication between me and the client to get the design going. I'm dealing with impulsive clients but the deisgn takes time.
  • Posted on 3/3/2009 at 11:41 PM Author
    Thank you. I'll hang on as long as it takes..

    As for the economy.. I cant deny that fact. But, these clients have an idea of what my product is worth before they contact me. It has to be something that I'm doing or NOT doing. Or maybe thats just my optimism.
  • Posted by Jay Hamilton-Roth on 3/4/2009 at 8:19 AM Accepted
    Before you begin to try to close, find out what their (emotional) needs are. Why did they contact you today? What will they do with their purchase? Where have they seen one before? You want to engage them to find out their needs but also help them to truly visualize owning it. That's why auto dealers know that when they ask "what color are you looking for?", once you respond you're now emotionally involved in the purchase.
  • Posted on 3/4/2009 at 9:05 AM Author
    Thats the way I've been approaching it. I've been selling the "sizzle", the emotional experience of owning my product, and the benefits of owning my product compared to something similar (which is common knowledge to the person that contacts me). It just seems like I cant keep them hot on it long enough to close or send the deposit. Maybe I need to put more focus on the individuals specific emotions.

    I think you may be right, Jay.
  • Posted by Dorothea on 3/4/2009 at 11:55 AM Accepted
    For what it's worth, Wayne, I have to concur with Jay as well. I've been in sales and marketing over 20 years now and the one thing I've learned, particularly with my most recent company, is that clients need to have or feel an emotional investment or attachment to their product in order for the sale to close. They need to FEEL that this is the best investment for them and they absolutely need the product before they will fully commit. Getting them emotionally attached to the product, its value and/or the true investment they are making is the key. Make them FEEL like they are the only customer you have, that they have ownership in this product, that they are on the cutting edge of something, that they are truly special to you. Make the effort with additional customer service (although not annoying), and keep making them FEEL the need, the joy, the excitement of your product. I bet that will help you. It's worked for me and I haven't lost my job yet!

    Good luck!
  • Posted by Tracey on 3/4/2009 at 3:36 PM Accepted
    A couple ideas that may be obvious, but...

    Is there a way you can network and interact with your contacts in a social way? E.g., business networking events, mixers, etc.? If they know you personally they will be more prone to spending some time thinking about the product.

    Have you worked with their assistants? They may have more time to work with you. Take care of these people with small gifts or marketing campaigns. I once did a campaign aimed at the assistants of our high-profile contacts, and had overwhelming success with getting on the contacts' calendars.
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