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Similar a Upsell! Overcoming Price Objections by Guerrila Sales Speaker Orvel Ray Wilson, CSP
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Upsell! Overcoming Price Objections by Guerrila Sales Speaker Orvel Ray Wilson, CSP
- 1. GUERRILLA SELLING GUERRILLA SELLING UPSELL! How to Close More Business at Higher Prices Orvel Ray Wilson, CSP Sr. Partner THE GUERRILLA GROUPinc inc Presented by: Presented by: THE GUERRILLA GROUPinc
- 2. GUERRILLA SELLING GUERRILLA SELLING It’s a Jungle Out There! Economic Uncertainty THE GUERRILLA GROUPinc
- 3. GUERRILLA SELLING GUERRILLA SELLING $2.2B $9M THE GUERRILLA GROUPinc
- 4. GUERRILLA SELLING GUERRILLA SELLING It’s a Jungle Out There! Economic Uncertainty Ruthless Competition THE GUERRILLA GROUPinc
- 6. GUERRILLA SELLING GUERRILLA SELLING It’s a Jungle Out There! Economic Uncertainty Ruthless Competition Customer Expectations THE GUERRILLA GROUPinc
- 8. GUERRILLA SELLING GUERRILLA SELLING It’s a Jungle Out There! Economic Uncertainty Ruthless Competition Customer Expectations Pressure on Prices and Margins THE GUERRILLA GROUPinc
- 11. GUERRILLA SELLING GUERRILLA SELLING What do we Mean by “Guerrilla”? THE GUERRILLA GROUPinc
- 12. The most successful marketing series in history:
- 13. GUERRILLA SELLING GUERRILLA SELLING Sell The Total Product • Generic THE GUERRILLA GROUPinc
- 14. “This DVD player sells for less than DVD players costing twice as much.”
- 15. GUERRILLA SELLING GUERRILLA SELLING Why Sellers Think Price is More Important than it Really Is They ALWAYS ask you to cut price, because . . . They often really CAN get it cheaper Why are they talking to you? THE GUERRILLA GROUPinc
- 16. GUERRILLA SELLING GUERRILLA SELLING What That Customer REALLY wants is: YOUR product YOUR technical expertise Your availability YOUR service and THEIR price. THE GUERRILLA GROUPinc
- 17. GUERRILLA SELLING GUERRILLA SELLING Why you don't want price shoppers as customers: They gobble up your time They do all the complaining They brag about the deal they got They’ll steal your ideas, information and knowledge You establish a precedent THE GUERRILLA GROUPinc
- 18. GUERRILLA SELLING GUERRILLA SELLING Why you don't want price shoppers as customers They gobble up your capacity –If you cut your price by 10%, you have to double your unit sales volume by just to make up the difference. THE GUERRILLA GROUPinc
- 19. GUERRILLA SELLING GUERRILLA SELLING Do the Math: Total Sales $1,000,000 COGS $650,000 65% Gross Margin $350,000 35% G&A Fixed $200,000 20% COS Variable $150,000 15% Potential Profit: 20¢ THE GUERRILLA GROUPinc
- 20. GUERRILLA SELLING GUERRILLA SELLING Do the Math: Total Sales $ 900,000 100% COGS $650,000 72.2% Gross Margin $250,000 27.8% 20% GS&A Fixed $200,000 20% COS Variable $150,000 15% Potential Profit: 11.1¢ THE GUERRILLA GROUPinc
- 21. GUERRILLA SELLING GUERRILLA SELLING You Have to Increase Sales $1,801,801.80 80% increase in Dollar Sales just to 80% increase in Dollar Sales just to make the same amount of money. make the same amount of money. But DOUBLE the unit sales But DOUBLE the unit sales The lower your margin the worse it The lower your margin the worse it gets gets THE GUERRILLA GROUPinc
- 22. Low Bidder “How did I go broke? I was the low bid!”
- 23. GUERRILLA SELLING GUERRILLA SELLING On the Other Hand: If you RAISE your price by 10% you can lose 34% of your sales and STILL break even. THE GUERRILLA GROUPinc
- 24. GUERRILLA SELLING GUERRILLA SELLING Sell The Total Product • Generic • Expected THE GUERRILLA GROUPinc
- 25. GUERRILLA SELLING GUERRILLA SELLING What They Really Need: Two or more vendors Technical and engineering help On-time delivery Minimize downtime Clinical education To buy what they’re told to buy THE GUERRILLA GROUPinc
- 26. GUERRILLA SELLING GUERRILLA SELLING What They Really Need: Feel like they’re taking better care of the patient Meeting business needs Minimize service and repair costs Avoid over-engineering the solution THE GUERRILLA GROUPinc
- 27. GUERRILLA SELLING GUERRILLA SELLING What They Really Need: Workflow and productivity solutions Timely and accurate CPT billing Predictability and consistency Responsive, courteous and timely action by vendors when they have questions or problems Look good to their boss. THE GUERRILLA GROUPinc
- 28. “Discouraging data on that new antidepressant.”
- 29. GUERRILLA SELLING GUERRILLA SELLING Sell The Total Product • Generic • Expected • Augmented THE GUERRILLA GROUPinc
- 30. GUERRILLA SELLING GUERRILLA SELLING The Law of the Slight Edge: “The difference between a champion and an also-ran, more often than not, is a very slim margin.” THE GUERRILLA GROUPinc
- 31. GUERRILLA SELLING GUERRILLA SELLING Philip’s Position in the Market We’re #4 in CT – Leader in Cardiac Imaging – Leader in Cardiac Imaging » CT, 64, 128, 256, CV, Hybrid CV » CT, 64, 128, 256, CV, Hybrid CV – 256 iCT Platform – 256 iCT Platform – 130 units installed – 130 units installed Don’t let others tell your customers where you’re positioned THE GUERRILLA GROUPinc
- 32. GUERRILLA SELLING GUERRILLA SELLING Philip’s Position in the Market Unified Approach leveraging relationships and solutions across modalities Tell the Full Story – “The Company That Cares” – “The Company That Cares” The Year of the Upgrade UPSELL! the 64 to 128 or 256 THE GUERRILLA GROUPinc
- 33. Brussels Sprouts
- 34. GUERRILLA SELLING GUERRILLA SELLING Sell The Total Product • Generic • Expected • Augmented • Potential THE GUERRILLA GROUPinc
- 35. GUERRILLA SELLING GUERRILLA SELLING Customers Will Pay More Quality Authenticity Stability Reliability Social or Ecological Values THE GUERRILLA GROUPinc
- 36. GUERRILLA SELLING GUERRILLA SELLING “Mr. Colton, do we stand behind our products?” Customers Will Pay More Knowledgeable salespeople THE GUERRILLA GROUPinc
- 37. GUERRILLA SELLING GUERRILLA SELLING Customers Will Pay More Knowledgeable salespeople Reputation Partnership Consistency Customization THE GUERRILLA GROUPinc
- 38. GUERRILLA SELLING GUERRILLA SELLING Customers Will Pay More Authority Popularity Exclusivity Scarcity Trade-in THE GUERRILLA GROUPinc
- 39. GUERRILLA SELLING GUERRILLA SELLING Customers Will Pay More Miniaturization Ruggedization Availability Delivery Expediting THE GUERRILLA GROUPinc
- 40. GUERRILLA SELLING GUERRILLA SELLING Customers Will Pay More Flexibility Financing Advanced technology Arrives in perfect condition THE GUERRILLA GROUPinc
- 41. GUERRILLA SELLING GUERRILLA SELLING Customers Will Pay More Problems fixed quickly THE GUERRILLA GROUPinc
- 42. “You really should have called me sooner.”
- 43. GUERRILLA SELLING GUERRILLA SELLING Customers Will Pay More Problems fixed quickly Environmentally friendly –78% Said they would pay $2,000 more for a car that gets 35 mpg Benefit a third party THE GUERRILLA GROUPinc
- 44. GUERRILLA SELLING GUERRILLA SELLING Customers Will Pay More Local Sourcing – 82% have consciously supported local or – 82% have consciously supported local or neighborhood businesses neighborhood businesses Brand Names Referral THE GUERRILLA GROUPinc
- 45. GUERRILLA SELLING GUERRILLA SELLING Customers Will Pay More Reduced liability THE GUERRILLA GROUPinc
- 47. GUERRILLA SELLING GUERRILLA SELLING Customers Will Pay More Reduced liability More fun. THE GUERRILLA GROUPinc
- 48. GUERRILLA SELLING GUERRILLA SELLING To Arrange for Orvel Ray to Speak to Your Convention, Conference or Sales Meeting OrvelRay@GuerrillaGroup.com Call: 800-247-9145 to receive a Complimentary Video Demo www.GuerrillaGroup.com for details THE GUERRILLA GROUPinc
- 49. Blank Slide