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1. HELPING YOUR CONTRACTOR TO SELL MORE ABC DALLAS MARCH 8, 2014 2. Today’s presentation is online for your convenience www.slideshare.net/slideshow/embed_code/32056375…
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  • 1. HELPING YOUR CONTRACTOR TO SELL MORE ABC DALLAS MARCH 8, 2014
  • 2. Today’s presentation is online for your convenience www.slideshare.net/slideshow/embed_code/32056375
  • 3. Learning Objectives Help your contractor sell more in the home: Become the trusted industry expert 1. Understanding and meeting customer buying criteria 2. Effective pricing 3. The myths behind features vs. benefits
  • 4. THE CUSTOMER’S DECISION-MAKING CRITERIA
  • 5. Decision making criteria A 2008 Harvard study: 1. Confidence in the Manufacturer 2. Confidence in the Company 3. Confidence in the Associate 4. Price
  • 6. Confidence in the manufacturer Confidence in the Manufacturer: • Different from pre-recession mindset • Do it right the first time • Reassure the customer the manufacturer has staying power • Homeowners have a sense of pride about the quality of the products they choose • This mindset shows change in buying behaviors
  • 7. Longevity and strength - Simonton Simonton celebrates 67 years this year!
  • 8. • Average house cost $1459 • Average wages $2500 • A gallon on gas .15 cents • Cost of new car $1120 • Great Alaska Earthquake 7.4 • BBC started • The first Vespa was manufactured • First microwave oven invented • First class postage .03 cents • Born: • George W Bush • Sally Field • Freddie Mercury • Cher • Donald Trump • Sly Stallone • Steven Spielberg Longevity and strength - Simonton
  • 9. Confidence in the manufacturer - summary The Industry’s Best Overall Value Proposition  In business since 1946  Financial strength of Fortune Brands FBHS  Industry’s shortest, most dependable lead-times  World class manufacturing  National sales and service levels  Consumer understanding  Proven track record of service  95% “Perfect” orders delivered on time  The premier trade brand chosen by professional remodelers and builders  Industry-leading warranty Consistently delivering the best since 1946
  • 10. Confidence in the service provider The service provider – your contractor: • When others receive good service, it speaks to credibility • Longevity of their company speaks to honest and reliable business practices • Allows consumers to support local business • Provides reassurance their company will be around to honor future warranty concerns or additional projects
  • 11. Examples Your contractor should incorporate talking points: For example: • How long has your company been in business? • How many customers have you done business with in your company’s history? • What kind of training or certification have your employees received? • What kind of awards or recognition has your company earned? • Can you provide testimonials from past customers? Are they in writing? • Partnership with ABC – National infrastructure and huge buying power
  • 12. Confidence in your company - summary Differentiate from competition. It is entirely appropriate to brag a little. • Provides peace of mind • Homeowners begin to envision hiring them • Become the trusted advisor • Be clear in company and product distinctions • Have a plan and be prepared to answer questions or concerns • Know the difference between your product and your competitors Differentiate from your competition by merely talking about company bragging points. Most competition will most likely be less prepared!
  • 13. Confidence in the associate Credibility • Mostly likely reason customers do not buy • How to be a People Person • Listen – #1 confidence builder • Ask questions • Repeat back “if I understand you correctly…” • Building rapport builds the customer’s confidence • Train to remove fear
  • 14. Confidence in the associate “Customers only buy from people they like.” “Liking” means the customer has confidence: • Truly understand their needs • Confidently share product expertise • Demonstrate the highest level of integrity • Respect their budget • Attempt to provide the most effective solution
  • 15. Summary – confidence in the associate • Treat every customer as your closest loved one • Avoid controversial topics • Don’t trash your competitor – take the high road • Accommodate the homeowner’s needs through your product offering and within their budget. • Tell stories. Be likeable. • And most importantly SMILE!
  • 16. PRESENTING PRICE
  • 17. Price • 81% of customers state that staying within their budget is VERY important • However, 72% stated that when great value is present, they will gladly exceed budget by more than 20% • Great Depression thinking has returned • Financing options make projects more affordable Value vs. Price
  • 18. Buying Behavior Which is a better question? $$$ A $$ B $ C YES or NO or
  • 19. Packaging the customer’s options Many research studies agree when given three options, customers generally choose the middle option. You should anticipate giving the customer three pricing/product offerings at the same time. 1. The most expensive (dream) option 2. Your target option 3. Their budget option $$ $$$$
  • 20. Option 1 – “Dream Option” The “dream option” contains every upgrade, style, color, option and window in which the customer showed interest. Here are some examples of some dream options: Bay/bow window Wood grain Hardware upgrade French Door vs. Patio Door Energy Efficient glass upgrade Full screens if applicable Exterior paint color options All windows in home vs. a few If you don’t present it they cannot choose it – and some will!
  • 21. Option 2 – “Target Option” • This option should be the one which best integrates their needs, wants and is lightly higher than budget. • When this option is presented, acknowledge that it is slightly above their price range. • Also make clear that you believe it to be the best option for them. Using phrases like “best bang for your dollar” or “most practical” will help them to understand you are trying to best meet their needs even though it means slightly exceeding their budget. The target option should be priced slightly above their budget range by about 10-20%.
  • 22. Option 3 – “Budget Option” The budget option should be priced at or slightly below their budget range. • Giving the customer an option which is at or below their budget range will show the customer that you listened and care about their needs • When this option is presented, acknowledge that you have done everything you can to accommodate their budget. • This is a good time to remind the customer that this project should only be done once so doing it right (and how they want) should weigh into their decision.
  • 23. Presenting price - summary Giving the customer three options gives the customer more freedom of choice and shows that you respect their needs, as well as their wants. Be sure to present all three options: • The dream option can increase your average order value significantly. • Your target option is usually where you will land. • The budget option shows the customer the respect they expect from a consultant with good character. Your presentation should include a financing option/monthly payment. Consumer’s tend to accept a $200/mo payment more readily than a $9000 price tag. Presenting three options and monthly financed payments will significantly increase your closing percentage
  • 24. CONVERTING FEATURES INTO BENEFITS Section Three:
  • 25. Features VS. Benefits ”A benefit is only a benefit if the customer sees value in it.” ~Doug DeLuca
  • 26. Features to benefits - summary • Be sure to do some investigating to determine your customer’s important features. • When you discuss the product features with the customer, always follow up with its benefit. • If you think a feature and benefit will be important to your customer, show it. • Every feature has a benefit to the customer who desires it. “People don’t want to buy a quarter-inch drill, they want a quarter-inch hole.” ~Theodore Levitt “Which means to you…”
  • 27. Double Hung ¾” Stainless Steel Constant- Force Coil Balance Allows for a maintenance free, system for sash stability. Multiple Chambers Profile Vinyl profiles are filled with 13 dead air chambers that increase window insulation and aides structural integrality Tilt in/Lift out Sash Allow sash to tilt in for easy cleaning Supercept Spacer System Makes for low conduction rates, moisture-resistance and thermal efficiencyContoured Extruded Lift Rails Allows for easy opening –no matter how big the window. Flush Mounted Tilt Latches For a clean, smooth sash rail. Dual Air Locks For ventilation Cam Lock Unique designed secure window lock Fusion-Welded Frame and Sash Profiles and sashes are fused together to create a weather tight, strong one- piece unit. Accessory Groove For the addition of decorative trim & to aid in installation 3 ¼” Frame Allows to fit most openings ⅞” Insulated Glass Unit Double pane, Double strength glass with Low E and Argon Gas for increased energy performance Exterior Frame Meeting Rail Makes for a tight seal with our patented Inter- locking/Over-lapping design Extruded Screens For strength and durability
  • 28. Review Help your contractor to sell more in the home: • Understand and meeting the customer’s decision-making criteria •Helps your customer’s message to be more direct •Manufacturer, Contractor, Associate, Price • Convert features into true benefits •Speaks the customer’s language •Be relevant •Offering three price and product points •Closes more sales •Increases average sales price These proven industry techniques will help your contractor with a higher closing percentage and higher average order value
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