The 10-80-10 Selling Rule

Mike came to my office one day looking very discouraged. He had been selling for about two months. He was doing significantly above average so his discouraged look surprised me.

I asked him what was wrong and he said, “I don’t understand it. With my last prospect I thought I did a perfect selling job. The greeting went very well. My fact finding told me all the important things he wanted. His response to my product presentation seemed ideal. I over came his objections very effectively. But when it came to getting a commitment from him to buy – nothing I did was successful.”

“What did I do wrong?” he asked with a frustrated tone.

I first ask Mike a series of questions about each step of the selling process. I then said to him, “In my opinion it looks like you did everything right.”

“Then why didn’t I make the sale?” Mike asked emphatically.

10-80-10 Selling Rule

I calmly responded, “I would say it’s because of the 10-80-10 selling rule.”

“What is that?” he asked.

I explained that for every 100 customers you wait on:

  • The top 10% of your customers will be the easy sale. Most people with no sales experience or no sales training will be able to sell them. Some of these customers may be completely pre-sold on your product and they just want it now. Take their order and be grateful.
  • The middle 80% of your customers you can sell if you have the right level of selling skills. This is the group of customers that separates the sales pros from the amateurs. The amateurs can sell maybe 20% or less of this group. The pros can sell 70% or more of this group. Some of the best pros actually sell 100% of this group. The more selling skills you have the higher percentage of this group you will sell.
  • The bottom 10% of your customers you are not going to sell no matter what you say or do. Some common reasons for this could be the following. They simply don’t have the ability to buy your product but they want to save face so they can’t admit that. Your personalities mix like oil and water. This truly is the wrong product for them. You will sell 0% of this group.

The Secret to Selling Success

The secret to success with the “10-80-10 selling rule” is in two parts.

First, focus you time and efforts on improving your selling skills like you are doing now taking this selling secrets course. The fact that you are reading selling secret #10 says some powerful things about your commitment to your selling skill development.

Second, don’t focus you time and efforts being frustrated because you didn’t sell that bottom 10% of your customers. Joe Girard the #1 car salesperson in the world (according to the Geneses Book of World Records) had a bottom 10% he couldn’t sell too. So my advice is to get over it and move on to more productive sales producing activities.

Selling is an art not an exact science. Don’t think you have to be perfect in sales. It’s amazing how rich you can get in sales by being good but not perfect.

Timeshare Sales Techniques – The Statement of Intent

The statement of intent is an excellent sales tool for establishing a number of things right at the beginning of your sales presentation. Firstly and most importantly it is used to calm your clients down and make them feel more comfortable about being on a Timeshare or Holiday Club presentation.

Once you have collected your clients from the reception, have them seated correctly in the warm up area and ordered their drinks, you should give them what is known in the Timeshare Industry as “The Statement of Intent”. Or “Breaking of the pact”

Your clients are probably very nervous, either because of a past personal experience on a Timeshare presentation, or because of all the bad press and warnings they have read or heard about what happens when you attend a Timeshare sales presentation.

The easiest way to alleviate their fears is let them know exactly what is going to happen during their presentation. People only fear the unknown. So if you let them know what to expect and in what order. They will normally calm down immediately.

A good statement of intent should go something like this:

“Ok John and Mary, while we’re waiting for our drinks to arrive let me tell you exactly what’s going to happen while you’re with me here today”. “Firstly I’m going to ask you to help me with a brief holiday survey about where you’ve been in the past, where you would like to go in the future, and what you’ve liked or disliked about some of the holidays you’ve taken in the past. It’s a very important part of my job as the information people like you give us, help my company to keep up to date with the ever changing holiday trends and stay ahead of the competition, then I’m going to show you around the resort and you will see why we now have so many members in my holiday club and you’ll realise the benefits that my members get from being part of such a large and well established holiday company, at the end of my presentation you will be given the option of either saying no thanks, in which case I will make sure you get any gifts you have been promised and a taxi back to your hotel, or you can choose to join the other thousands of families who said yes and are now enjoying the many benefits of being part of my club and I will make sure my manager is available to sort out the best possible deal at the best possible price, either way the choice will be yours.” “All I ask is that you allow me to do a full presentation and answer all your questions before you make your choice.” “Is that fair enough?”

Now get all parties to agree and shake all their hands. At this point you must confirm that they are OK for time, that they’re not rushing of to meet any one in half an hour and they haven’t left Grandma alone on the beach in full sunshine.

Apart from relaxing your clients and making them more open minded, you will have also got rid of the time problem. If they start pushing you to speed things up you can just remind them that they agreed to allow you to do a full presentation and you shook hands on it.

Your clients will have agreed to give you at least ninety minutes. It’s up to you to turn that ninety minutes into a three hour presentation that ends in a deal!

They won’t even notice the time if you, entertain them, win them over, and close them using the “Simple Selling Skills” you’ll be learning when you keep dropping by my site on a weekly basis.

See you next week.

What’s Your Corporate Event Entertainment IQ?

Bringing your sales training program to a corporate event maybe a great idea, but the cost of hiring a band for entertainment could be prohibitive, if you don’t know what you’re doing. Before we took our training package to the corporate event, we decided to increase our Corporate Event Entertainment IQ (CEE-IQ), and find a dynamic centerpoint, call it a solution, if you will, to the problem of high cost entertainment.

First, we found it was all about location. Creating an event in Houston’s high fashion district meant hiring bands to come long distance from Las Vegas, or Los Angeles, but we had the ultimate in convention center resources. And the weather? Even in the winter, the weather in Houston is awesome… Unless they have high water. High water can be a bit discouraging. But Houston isn’t usually under water.

So if it’s all about location… Pick that first.

Articles of Sales Training

Your best buffer for sales training is always going to be the entertainment you choose. Why? Because when the training is over, and your sales team goes home to mama for the night, they need something BIG to create a memory. They need a Las Vegas Style Lights and Music night to instill in them a kind of memory that takes them straight to the training they learned at Your Corporate Event.

The top, most profound of all Articles of Sales Training, is the music or entertainment you select to impact your CEE-IQ. The better choices of music, the more your trainees will learn and retain after the corporate event.

Of course, the next on the Articles of Sales Training would be location. I mean, are we talking warm sandy beaches, or ocean waves? Or mountains? Being a big city kind of person, I’m more likely to choose a city like Los Angeles, where oceans and mountains are close at hand. I’m gonna love those views.

Words that Sell

The next thing on that CEE-IQ is my agenda. Words chosen always make a huge difference, and when I mention on my sales brochure that we’ll be hosting a Las Vegas Style Dance Band, my people know they can expect that show-girl experience, no matter what venue we choose.

But if I choose instead to say Los Angeles Style Big Band, you can bet they’re expecting a Red Carpet event with limos, lights and celebrities. My CEE-IQ is going to include the word selection, and I’ll choose words that sell.