Ok, the last time I heard that might have been from the mouth of a pimply-faced kid, late at night, when perhaps I had had a little too much to drink, and nothing else was open… It’s shameless upselling – and I probably said yes.
This week I was exposed to some other really bad examples of some shameless upselling, and some very clear vested interests. I won’t name the businesses, or the people involved, but I – the customer – was clearly not the priority.
This got me to thinking again about our business, and I wanted to share a few important points it raises for The Property Mentors and anyone who has something to “sell”.
While most people are put off by aggressive sales techniques or pushy salespeople (ourselves included – in fact this very fact was a big part of the reason the Property Mentors was created in the first place!), it’s important to speak about selling a bit. See selling is just a tool. A tool that can be used well, or one that can be used poorly. Like many things in life it’s in the hands of the user as to whether it will produce a good result or a bad result.
And sales, when done well, leads to progress. And really if you have something that the world wants or needs, and I mean really needs, you owe it to the world to become good at letting people know about it. I believe that when you have a product or service that you are truly passionate about, and one that can make a difference to the people who end up using your products or services, then it’s your duty to share it with the world in the best way possible.
When an individual or business moves past just selling to make ends meet, and moves into the space where it is about service to humanity, the ability to transfer your passion and enthusiasm for your goods or services becomes an essential skill. Jeff Walker has defined selling as “enthusiasm transferred” and I kind of like that definition. Changing the focus from being in “sales” to being in “service” and simply “transferring our enthusiasm” is how we like to view our business.
Selling is transactional. It’s about a one off transaction where a buyer agrees to pay a price for a product or service. With selling, that’s usually the extent of the exchange. Our business sells concepts, and those concepts are based around YOU as the investor building wealth long term. We could operate like 99% of property based companies, but both Luke and myself see more VALUE in working with you long term. We aren’t here for a quick buck, and because we are here for the long haul, to teach you, motivate you and inspire you to build wealth through property, we think you will see value in working with us.
See we all have something to sell- even if it’s just selling ourselves to a potential employer, making ourselves more attractive to our spouses, or even making an irresistible offer to your children. I am sure that at some stage nearly every parent has tried to “sell” the value of eating vegetables to their kids, who somehow seem to have a very different idea… If you have been in that situation, what “sales” tactics have you used in the past? What worked for you?
Method # 1. Truth in advertising
Again I might show my age here a bit, but I remember a movie that launched back in 1990 starring Dudley Moore called Crazy People, which was a parody of the advertising industry, where he thought he would level with the American people and came up with a bunch of advertsing slogans like:
“Your fear of flying may be valid. There are always plenty of plane crashes and people die like crazy. But you should also know that more people arrive at their destinations alive on our flights than on many others. So, if you have to fly, fly us. UNITED. Most of our passengers get there alive.”
As many of you might know my partner Kylie has a fear of flying – and when I ran this ad by her she was no more likely to fly United so perhaps this strategy is not the best… : )
Coming back to the kids and vegetables, which seem to be like mixing oil and water, perhaps you could try the truth in advertising approach and get them to swallow this:
“C’mon kids eat your vegetables… they might taste like arse, but you won’t get to eat dessert unless you down em!”
The truth about veggies – never heard that one before!
Method # 2. The steak knife strategy
“But wait there’s more – buy today and we will also throw in (insert product here)…”
Let’s face it everyone loves to buy stuff (some more than others… and yes my love I am talking about you). AND most of us love a bargain.
In the property industry there’s no shortage of companies offering an irresistible ‘once in a lifetime’ offer – whether it’s ‘buy today and get $X off’ or ‘buy today and get a X% rental guarantee’. Sometimes these offers actually represent good value.
However, any opportunity that does not take into account your specific wealth strategy, goals, timeframes, and risk appetite are simply ‘products’ that are usually being ‘sold’ to you. In fact, these marketing techniques are designed to get a quick sale often so that you rush your decision. These special offers have been proven to work, but rarely has anyone built a sizeable property portfolio this way. There is no relationship. This is purely transactional.
In a similar way in the seminar space, the offer is usually reserved till the end of the presentation, and you are asked to run to the back of the room, and grab the offer today, as it will not be around again (well at least not until the presenter hits their next event…)
This is why with our flagship educational event The Property Mentors Master Class Event, we tell you to leave your credit cards and cheque books at home because you will not have the opportunity to buy anything over the weekend. See that would mean we are selling products, and not helping to educate you to make intelligent buying decisions. A new concept hey! Yeah we thought you might like that….
Method # 3. The WIIFM approach
Most succesful marketers starts by putting themselves in the shoes of their ideal client and asking themselves “What’s in it for me”? Or WIIFM.
By extension, when we started The Property Mentors we asked ourselves these tough questions:
Well, most savvy investors don’t want to just buy an investment property (or three) they want to solve a problem in their lives.
*Da Dum, Da Dum* Click here to have a more dramatic sound effect playing in the background… But keep reading!
One of the biggest challenges investors face is knowing who they can trust when there are clearly MANY sharks in the water…
However, to be brutally honest here, many investors are chum for the sharks, because they lack the specific property education to know what they are doing themselves. They are happy to buy products and buy them from sales people. Not that you should be doing everything yourselves, but there is a big difference between delegation of tasks and abdication of responsibility.
See the most effective investors usually outsource or delegate a range of property specific tasks to an A-Team of allied professionals. This could include accountants, architects, builders, buyers agents, engineers, financial planners, real estate agents, solicitors, town planners, etc etc… However, the best investors still have at least a basic understanding of how each of these professionals should be used, and when. They’re also aware that they’re more like a successful conductor of an orchestra – not playing any one instrument themselves, rather they know how to get the best out of each individual musician.
In contrast, those investors who get the poorest results, often abdicate their responsibility by placing all their trust (often misplaced) in some perceived higher power and relying on them 100% to get a result. Of course you will get a result, but you may not like the one you get, if you fail to commit to at least a basic education and degree of financial literacy. The biggest challenge is where to find all of that information.
Uh… This is not what I signed up for
The number of investors we have spoken with over the years who have simply not achieved the type of results they were expecting is bigger than a child’s smile when you say they can skip the veggies and head straight for dessert.
Often the lack of results is not from a lack of trying. However, there is no point climbing the property ladder, if the ladder is on the wrong wall?
If your strategy is wrong, even the best application of that strategy is going to prove disappointing. Strategy? What’s that you say?
Unlike many in the property world, we do not take a one-size-fits-all approach.
I am always upset when I hear our competitors say no one should do this (negative gearing, development), or everyone should do that (positive cash flow, or renovation) or that their way is the best/only way to make money in property. The problem being that you get forced to fit their model, which is like trying to push a square peg into a round hole. And to make matters worse, this can work for some (if their peg is small enough, or the hole is big enough) providing ‘proof’ that their systems work. Focussing on the strategy alone, or offering just one type of strategy is never going to give MOST people results.
At The Property Mentors, we know that each and every one of you is an individual. You have different goals, time frames, skill sets, risk appetites, and financial resources – and so we take a more tailored approach. We work with YOU to help identify and fill the gaps in your knowledge, build your very own A-Team, and create a unique plan to help you achieve the type of results you really want.
That is why at The Property Mentors, we are DELIBERATELY disrupting the property industry space and are seen as the ultimate triple threat, by providing the following three key pillars to our business.
We would like to leave you with this simple quote that may get you thinking. “OPPORTUNITYISNOWHERE” – you see, with the right education your will see opportunities right in front of you, where most will consider them to be nowhere…