SOMETIMES IT FEELS like a tug of war to get the customer to part with their money. You’re not looking to just take; you’re looking to give the customer something of great value or repairing something of theirs with great value.
One of the best teachers I ever had was my Uncle Irv, who sold cars his whole life. A World War Two Bronze Star soldier, he came back home and sold cars for over 40 years and was always number 1 at every dealership.
One of the most valuable things Uncle Irv taught me was the power to $hut up and be quiet.
For example, a customer asks you, “So, how much is that ring?” You respond with “Isn’t it beautiful? 14 small diamonds surrounding the center diamond and it’s only $6,550.”
Uncle Irv taught me after giving the customer the price, you must learn to endure complete silence. He said that after giving the price, the next person to speak will take money out of their pocket and hand it to the other person.
You and the customer are quiet, both looking at the ring and each other. After a short period of silence, you are probably thinking because the customer hasn’t spoken yet, “OMG, they haven’t said a word. I bet they’ve seen it for less someplace else. They are going to bolt. I have payroll to make on Friday. Better give them a discount, better to make some money than no money.”
If you speak, you just gave away part of your profit.
Meanwhile the customer is thinking to themselves: “I love this ring, but can I afford it? Let’s see here, my mortgage is due in three weeks, I could put it on my credit card. I wonder if they offer 90 days same-as-cash? This is my second stop, should I go to another store? Man, this is tough, I could use some help here.”
If the customer talks, it’s usually in the form of a question or a statement, and you are on the road to getting rid of objections or giving more valuable buying information.
Uncle Irv loved when the customer said “NO,” as it meant that he or she needed more information to make a buying decision. Now that the customer spoke, they are on their way to pulling money out of their wallet and handing it to you.
Yes, it took me a short while to master this valuable tool.
Ah … the power of $hut up!