Connect with us

Shane Decker

Shane Decker: Pride of Price

mm

Published

on

It’s easy to blow a sale when the customer asks you, ‘What does it cost?’ Shane Decker has some tips for handling the situation.

{loadposition shanedeckerheader}

Pride of Price

I know: it’s not fair. You’re great at romancing your jewelry. The customer likes you. Everything is going according to plan. But in order to sell your product, you are going to have to give the customer a price. And other than closing, this is the single biggest part of the sale that is blown by salespeople all across the country. How can you drop this bombshell without destroying the sale in the process? Here are five tips that can help make price a non-issue in your presentation:

• Procrastinate. Price should be the last item you discuss in your presentation. If you bring it up too soon, the customer will shut you out. But if you begin by romancing the product, its value will increase, and you will encounter fewer price objections later on. Whoever told you never to put things off certainly wasn’t in diamond sales!

• The item must be in their hand, not yours. If you are holding the product when you tell the customer the price, you are subconsciously sending the message that they can’t afford it. Furthermore, possession isn’t just nine-tenths of the law … it’s nine-tenths of the sale! When the customer holds your product, they can more easily envision themselves owning it.

Possession isn’t just nine-tenths of the law … it’s nine-tenths of the sale!

Advertisement

• Look them in the eye. This tells the customer they can trust you, and you have nothing to hide. It also lets them know you have confidence that your price is a good one.

• Don’t say “thousands” or “hundreds.” Read the item price as a series of digits. For example, an item priced $6,999 would be read “sixty-nine ninety-nine.” Less intimidating.

• Never pre-qualify. This is the biggest reason most salespeople blow sales on price. A “poverty-level mentality” regarding the customer will always cause you to undersell, and you’ll never make as much money as you could. For instance, if you apologize for the price, your customer will perceive that it is expensive. She will then be less likely to purchase the item, even if she could afford it. Sell every customer like she’s a multimillionaire. That way, even if she can’t afford the item, you’re giving her a silent compliment, and she’s more likely to buy something else from you.

“But Shane,” you ask, “What do I do if they ask for the price early in my presentation?” If that happens, you must immediately give them the price, but phrase it as a lead-in: “It’s sixty-nine ninety-nine, and let me tell you why.” This lets you continue romancing the product and building value. Never defend your price, always qualify.

If you do your sales presentation correctly, price will never be the issue that “makes or breaks” the sale. Your store will become a legend because of how you treat people. Remember: 75 percent of people shopping for jewelry buy that day, and 93 percent of all customers who say they’ll be back don’t come back. They are going to buy from the person who assumes they can buy it. Will that person be you?

Shane Decker has provided sales training for more than 3,000 stores worldwide. Contact him at (317) 535-8676 or at ex-sell-ence.com.

Advertisement

This story is from the February 2003 edition of INSTORE.

Advertisement

SPONSORED VIDEO

Wilkerson Testimonials

When It’s Time for Something New, Call Wilkerson

Fifty-four years is a long time to stay in one place. So, when Cindy Skatell-Dacus, owner of Skatell’s Custom Jewelers in Greenville, SC decided to move on to life’s next adventure, she called Wilkerson. “I’d seen their ads in the trade magazines for years,’ she says, before hiring them to run her store’s GOB sale. It was such a great experience, Skatell-Dacus says it didn’t even seem like a sale was taking place. Does she have some advice for others thinking of a liquidation or GOB sale? Three words, she says: “Wilkerson. Wilkerson. Wilkerson.”

Promoted Headlines

Shane Decker

Four Sales Meetings You Must Hold Before the Holidays

Cover these topics to maximize your selling opportunities this season.

mm

Published

on

FROM DECEMBER 1ST TO the 24th, closing ratios double and impulse sales skyrocket. The problem? It’s too easy. Salespeople tend to slip into lackadaisical sales practices because the sales happen either way.

Unfortunately, this endangers repeat business and could even cost you holiday sales.

Podcast: When a Planned Purchase is a Style Mistake, Honesty Always Pays
Over the Counter

Podcast: When a Planned Purchase is a Style Mistake, Honesty Always Pays

Podcast: Ben Smithee Isn’t Just Another Social Media ‘Influencer’
The Barb Wire

Podcast: Ben Smithee Isn’t Just Another Social Media ‘Influencer’

Podcast: Wisconsin Salesperson Uses Life Savings to Live Her Dream of Jewelry Store Ownership
JimmyCast

Podcast: Wisconsin Salesperson Uses Life Savings to Live Her Dream of Jewelry Store Ownership

To prevent this from occurring, hold sales meetings over the next four weeks and address each of these topics in turn.

1. Store Floor Awareness: Emphasize that your team must know what’s happening at all times with all clients. There’s an old wives’ tale that whoever is closest to the door is the greeter; not true. If you’re near the close, you’re not going to turn away to greet a new customer. That means someone else needs to be ready. Has the client been greeted? Does a salesperson need an assist? Is the client about to walk away? Teach your team how to recognize and react to these situations.

2. Wowing All Customers: Salespeople say they are too busy to do this, and that everyone has what they want already. Wrong. This is the time of year that impulse buys greatly increase. All you have to say is, “Guess what’s in the vault?” or “Guess what just came in?” Let the rest take care of itself. Show your team how to “wow” every customer and emphasize just how critical it is.

3. Closing: Clients want you to close. At Christmas time, no one is just looking; everyone is just buying. Learn to professionally create a sense of urgency, but always be honest. You can say:

  • “We only have one of these left.”
  • “These have been really popular this year.”
  • “We can’t get any more of these until after Christmas”
  • “She’s going to love it; you should do this.”
  • “We sell this item faster than we can get it in.”
  • “You’re going to be a hero; she won’t believe you did this.”

If it’s on December 24th, you can even say, “We close in 10 minutes. There’s not another place you can go and just look; this is it!”

4. Add-ons: Too many salespeople spin and walk to the point-of-sale after the first item is sold. When you do this, you tell the client they’re done. Instead, purchase some beautiful, small sharp scissors. From now on, once you’ve sold an item, take out your scissors, cut the tag off and lay it on the counter pad. That says you’ve sold the item, but you can continue selling.
The average Christmas buyer buys 15-20 gifts, and the average salesperson sells just one. Instead, after the first item is sold, say one of these add-on lines:

  • “This is part of a set.”
  • “We have what matches.”
  • “I gotta show you what goes with this because she’s gonna love it.”
  • “How many others are on your list?”

These are called lead-in lines because they lead into the next presentation. The average add-on takes 30 seconds because you don’t have to sell; they’re already sold.

Continue Reading

Shane Decker

This Is the Fastest Way to Kill a Jewelry Sale … Even If You Mean Well

It’s one of the surest ways to ruin a client’s experience.

mm

Published

on

TRUE SALESMANSHIP MEANS bringing skills and professionalism, knowledge, truthfulness and politeness to a presentation — as well as always making the client feel like she’s the most important person to come in all day, even if she is the 101st. We also have to bring a friendly attitude and be ready to support our teammates. But doing these things in the wrong way can backfire. Occasionally, when you try to be too friendly, it’s a sales killer. Let me explain.

Sometimes when a client has just come in and someone else has greeted them and started a presentation, another sales associate sees the client. They think, “I know them,” or “I’ve waited on them before,” or they’re a friend or a neighbor. But the client didn’t ask for that sales associate when they came in. This can create a big problem.

Video: How to Ask for Referrals Without Being Too Pushy
Jimmy Degroot

Video: How to Ask for Referrals Without Being Too Pushy

Video: How to Get People to Buy Jewelry From You Now Instead of ‘Someday’
Headlines

Video: How to Get People to Buy Jewelry From You Now Instead of ‘Someday’

Webinar: Sell Silver Like an Expert: Tips and Marketing Tricks for Making This Your Best Silver Selling Season
Sponsored Webinars

Webinar: Sell Silver Like an Expert: Tips and Marketing Tricks for Making This Your Best Silver Selling Season

The salesperson who is with the client is in the middle of the presentation and the other salesperson comes up and says, “Hello!” or “How are you doing?” This totally interrupts the presentation and now they may have to start over. They may even be in the 30-second window about to close the sale. The closing opportunity may now be lost.

There is a time for small talk and being neighborly, but this is not the time. Interruptions are deadly.

If the client had asked for the other salesperson, it would have been their responsibility, but never interrupt a sales presentation. When the client is ready to walk to the door, that’s the time that it’s OK to make your approach and speak to them. No one should ever walk in on a sale besides the sales floor manager, the manager or the owner, and even then they should only do it to assist in the presentation (not “take over”; assist).

Some salespeople do this because they think they own the client and they think they deserve the sale, so they unprofessionally walk in uninvited. This is very uncomfortable for the client and it’s uncomfortable for the salesperson who is with the client because they feel pushed out.

Clients do not like pushy salespeople. The salesperson also knows they could never team-sell with someone who is so unprofessional.

Our job as a sales team is to help others be successful. When one of your teammates is giving a presentation, your job is to grab tools, get drinks and cookies, and be a servant. Be a team player and don’t worry about who is with the client; be aware if something is needed. If the client wants to talk to you, they will let someone know. I don’t care whose name is on the ticket, but I do care that there is a ticket.

Our goal is a client who leaves happy and gave us money for something beautiful. Don’t be an interrupter!

Continue Reading

Shane Decker

Did You Know that When You Close a Sale, You’re Helping Your Customer?

They want to leave with their chosen product in a bag.

mm

Published

on

TODAY’S CLIENTS DON’T have time to shop tomorrow. They buy the day they shop; you do the same thing. Millennials shop online before they decide to come to your store. Older generations might go from store to store to find what they want, but they too buy the day they shop. Most of us start with the store where we want to leave our money.

Clients want you to close the sale. In part, they are paying you to make a professional decision for them and trusting you to do it. Sixty to 70 percent of your clients cannot make up their own minds. That’s why you should never say, “Can I wrap it up for you?” They will walk because you’re asking them to make a decision.

Podcast: When a Planned Purchase is a Style Mistake, Honesty Always Pays
Over the Counter

Podcast: When a Planned Purchase is a Style Mistake, Honesty Always Pays

Podcast: Ben Smithee Isn’t Just Another Social Media ‘Influencer’
The Barb Wire

Podcast: Ben Smithee Isn’t Just Another Social Media ‘Influencer’

Podcast: Wisconsin Salesperson Uses Life Savings to Live Her Dream of Jewelry Store Ownership
JimmyCast

Podcast: Wisconsin Salesperson Uses Life Savings to Live Her Dream of Jewelry Store Ownership

Moreover, approximately 90 percent of all clients who say I’ll be back never come back; 7 percent do. And, around 80 percent of all clients who say “I’ll be back” buy elsewhere within the first one to two hours after leaving your location.

The No. 1 reason clients leave empty-handed is not inventory or price. It’s that they were not closed. Too many salespeople do show-and-tell presentations rather than show-and-sell presentations. Independently owned stores’ closing ratios are between 27-33 percent, yet 80 percent of shoppers buy the day they shop. If you shop today, do you have time to shop tomorrow? Didn’t think so.

Never believe the client is coming back. This is the time for a team-sell or a T.O. When they say “I’ll be back,” that means they are leaving to shop somewhere else.

When you let the client leave empty-handed, you’re giving money to one of your competitors.

The best way to preserve client loyalty is to close the sale. A client is successful when they leave with a bag, give you money and they’re glad they came in — not when they have to leave and start the process somewhere else.

One of your most successful opportunities should be your referral clients, but remember, they have high expectations. Someone bragged about how awesome you or your team was. If the expectations are met, closing ratio with referrals are usually over 80 percent. Interestingly, this is a higher percentage than even clients who come in two-three times per year. Another type of presentation that should have a high closing ratio (80 percent) is the appointment.

The more money the item costs, the easier it is to close it. A $500 item is harder to close than a $5,000 item and so on. Why? Because the client can. Never decide for the client how much they can spend. Let them decide that. Do not do price presentations.

Owners, track clients coming in with a door counter and see how many sales slips are written up. This will tell you your closing ratio, which is the most important number in your entire company. You’ll also learn what your team is doing. Ultimately, your store’s closing ratio should be 50 percent or more.

Continue Reading

Most Popular