The two least-understood words in sales are also the most powerful.
Both of the words have more power than any other fact or figure about your product or service. The words are “ownership” and “outcome.”
When someone comes into your place of business, or you call on someone, or someone calls you to buy, or someone goes to your website to buy, it’s based on the same reason: They want to take ownership.
And after ownership, they have an expectation of how they will use, enjoy or profit from the purchase. That’s called outcome. And customers have an expectation of it BEFORE they purchase.
I don’t go into a car dealership to buy a car. In my mind, I’ve already bought the car. The reason I’m there is to get back and forth to work. Or show my customers how cool I am. Or show my neighbors how cool I am. Or take vacations with my family.
Those are outcomes.
What happens AFTER I take ownership of whatever it is you’re selling is a billion times more powerful than the sale itself. Salespeople who focus on “trying to sell” miss the entire opportunity to engage customers emotionally about how they will enjoy, produce more and profit more from the purchase – from ownership.
What will the customers do after they take ownership? What do the customers want the outcome of their purchases to be? As a salesperson, that needs to be your focus.
THE BEST NEWS IS: Neither ownership nor outcome has anything to do with price. They have everything to do with the emotion of the sale. And your main job as a salesperson is to find out why customers want to take ownership, and what they expect the outcome to be after they take ownership.
It is a visualization process. You literally paint a picture of what you believe will happen to the customers once they possess what it is you’re selling. And please do not misinterpret this lesson as only for a “product” sale. Service is sold exactly the same way.
I don’t want to pay an annual maintenance fee. Rather, I want peace of mind that if my air conditioner, or my copy machine, or my roof needs repairs, someone will be there to do it in a heartbeat. Terms and conditions are one thing – that’s the cost. Peace of mind is another thing – that’s the value, the outcome, and that’s what I am buying.
If that is NOT what you’re selling, here’s what to do:
• Review your entire sales presentation. What percentage focuses on the pride of ownership and the outcome of ownership? I recommend that at least 25 percent of your presentation focus on outcome.
• Begin by asking questions that will get you to the customer’s motive to buy. When do they want to buy? What is their history with your product or service? How they intend to use your product or service once it is purchased?
• Questions will generate emotional dialogue, which trumps price. Once your customers or your prospective customers understand how they win, then you can get down to buyer urgency.
• The more emotional the dialogue, the more “urgency” will become evident. And the less important price becomes.
KEY POINT OF IMPLEMENTATION: Visit customers who have already purchased your product or service. Discover how they use and benefit from ownership of your product. Document everything you find. Write it all down.
Visit 10 customers, and you will have all the information you need about ownership and outcome. You will have a new and more powerful presentation. And you will make more sales. That’s an outcome you can bank on.