Upsell! Overcoming Price Objections by Guerrila Sales Speaker Orvel Ray Wilson, CSP

transcript

THE GUERRILLA GROUPincTHE GUERRILLA GROUPinc

GUERRILLA SELLINGGUERRILLA SELLING

Presented by:Presented by:

UPSELL!How to Close More Businessat Higher Prices

Orvel Ray Wilson, CSPSr. PartnerTHE GUERRILLA GROUPinc

It’s a Jungle Out There!It’s a Jungle Out There!Economic UncertaintyEconomic Uncertainty

GUERRILLA SELLINGGUERRILLA SELLING$2.2B

It’s a Jungle Out There!It’s a Jungle Out There!Economic Uncertainty

Ruthless Competition

Economic Uncertainty

Customer Expectations

Pressure on Prices and Margins

Slowly but Surely

What do we Mean by “Guerrilla”?What do we Mean by “Guerrilla”?

The most successful marketing series in history:

•Generic•Generic

Sell The Total ProductSell The Total Product

“This DVD player sells for less than DVD players costing twice as much.”

Why Sellers Think Price is More Important than it Really IsWhy 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?

They ALWAYS ask you to cut price, because . . .

They often really CAN get it cheaper

Why are they talking to you?

What That Customer REALLY wants is:What That Customer REALLY wants is:

YOUR productYOUR technical expertiseYour availabilityYOUR serviceand THEIR price.

Why you don't want price shoppers as customers: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

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

Why you don't want price shoppers as customersWhy 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.

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.

Do the Math:Do the Math:Total Sales

Gross Margin

G&A Fixed

COS Variable

Total Sales

Gross Margin

G&A Fixed

COS Variable

$1,000,000

$650,000

$350,000

$200,000

$150,000

$1,000,000

$650,000

$350,000

$200,000

$150,000

Potential Profit: 20¢Potential Profit: 20¢

Do the Math:Do the Math:Total Sales

Gross Margin

GS&A Fixed

COS Variable

Total Sales

Gross Margin

GS&A Fixed

COS Variable

$ 900,000

$650,000

$250,000

$200,000

$150,000

$ 900,000

$650,000

$250,000

$200,000

$150,000

20%20%

Potential Profit: 11.1¢Potential Profit: 11.1¢

You Have to Increase SalesYou Have to Increase Sales

$1,801,801.8080% increase in Dollar Sales just to make the same amount of money.But DOUBLE the unit salesThe lower your margin the worse it gets

Low Bidder

“How did I go broke? I was the low bid!”

On the Other Hand:On the Other Hand:If you RAISE your price by 10% you can lose 34% of your sales and STILL break even.

If you RAISE your price by 10% you can lose 34% of your sales and STILL break even.

•Expected•Expected

What They Really Need: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

Two or more vendors

Technical and engineering help

On-time delivery

Minimize downtime

Clinical education

To buy what they’re told to buy

What They Really Need: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

Feel like they’re taking better care of the patient

Meeting business needs

Minimize service and repair costs

Avoid over-engineering the solution

What They Really Need:What They Really Need:Workflow and productivity solutionsTimely and accurate CPT billingPredictability and consistencyResponsive, courteous and timely action by vendors when they have questions or problemsLook good to their boss.

Workflow and productivity solutionsTimely and accurate CPT billingPredictability and consistencyResponsive, courteous and timely action by vendors when they have questions or problemsLook good to their boss.

“Discouraging data on that new antidepressant.”

•Augmented•Augmented

The Law of the Slight Edge: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 difference between a champion and an also-ran, more often than not, is a very slim margin.”

Philip’s Position in the MarketPhilip’s Position in the Market

We’re #4 in CT – Leader in Cardiac Imaging

» CT, 64, 128, 256, CV, Hybrid CV

– 256 iCT Platform

– 130 units installed

Don’t let others tell your customers where you’re positioned

We’re #4 in CT – Leader in Cardiac Imaging

» CT, 64, 128, 256, CV, Hybrid CV

– 256 iCT Platform

– 130 units installed

Don’t let others tell your customers where you’re positioned

Philip’s Position in the MarketPhilip’s Position in the MarketUnified Approach leveraging relationships and solutions across modalitiesTell the Full Story– “The Company That Cares”

The Year of the UpgradeUPSELL! the 64 to 128 or 256

Unified Approach leveraging relationships and solutions across modalitiesTell the Full Story– “The Company That Cares”

The Year of the UpgradeUPSELL! the 64 to 128 or 256

Brussels Sprouts

•Augmented•Augmented

•Potential•Potential

Customers Will Pay MoreCustomers Will Pay MoreQuality

Authenticity

Stability

Reliability

Social or Ecological Values

Quality

Authenticity

Stability

Reliability

Social or Ecological Values

Customers Will Pay MoreCustomers Will Pay MoreKnowledgeable salespeopleKnowledgeable salespeople

“Mr. Colton, do we stand behind our products?”

Customers Will Pay MoreCustomers Will Pay MoreKnowledgeable salespeople

Reputation

Partnership

Consistency

Customization

Knowledgeable salespeople

Reputation

Partnership

Consistency

Customization

Customers Will Pay MoreCustomers Will Pay MoreAuthority

Popularity

Exclusivity

Scarcity

Trade-in

Authority

Popularity

Exclusivity

Scarcity

Trade-in

Customers Will Pay MoreCustomers Will Pay MoreMiniaturization

Ruggedization

Availability

Delivery

Expediting

Miniaturization

Ruggedization

Availability

Delivery

Expediting

Customers Will Pay MoreCustomers Will Pay MoreFlexibility

Financing

Advanced technology

Arrives in perfect condition

Flexibility

Financing

Advanced technology

Arrives in perfect condition

Customers Will Pay MoreCustomers Will Pay MoreProblems fixed quicklyProblems fixed quickly

“You really should have called me sooner.”

Customers Will Pay MoreCustomers Will Pay MoreProblems fixed quickly

Environmentally friendly–78% Said they would pay $2,000 more

for a car that gets 35 mpg

Benefit a third party

Problems fixed quickly

Environmentally friendly–78% Said they would pay $2,000 more

for a car that gets 35 mpg

Benefit a third party

Customers Will Pay MoreCustomers Will Pay MoreLocal Sourcing– 82% have consciously supported local or

neighborhood businesses

Brand Names

Referral

Local Sourcing– 82% have consciously supported local or

neighborhood businesses

Brand Names

Referral

Customers Will Pay MoreCustomers Will Pay MoreReduced liabilityReduced liability

Customers Will Pay MoreCustomers Will Pay MoreReduced liability

More fun.

Reduced liability

More fun.

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

OrvelRay@GuerrillaGroup.com

Call: 800-247-9145 to receive a Complimentary Video Demo

www.GuerrillaGroup.com for details

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