Luxury Selling Is About Psychology
Luxury selling is about selling Luxury creations to wealthy customers. It’s also about selling high value products to any customer. The Luxury Selling method is based on a new approach of understanding the customer’s psychology to sell any product to any customer when a true decision process is necessary.
Peter Wang acquires a few watches a year. He loves to take the necessary time to consider his purchase—it is a kind of chasing pleasure. Finding a rare pearl that some others may not be able to discern is his pride. He is patiently building his collection. His trigger point might be his pride in being one of the most prominent watch collectors in Asia.
Michelle Taylor needs to be sure she is making the right choice; it is a wedding anniversary gift from her husband and it cannot be the wrong choice. The couple need to make this choice memorable. It is an important memento for them and they came to Paris especially for it, and also to build this memory together. The trigger point might be the great experience at the boutique and they want to extend it with the purchasing decision.
John Hudson is not buying a Luxury car every year. It might be a great experience at the car showroom but you never know. Car sales advisors are usually very good and he had better be very careful. It is also a decision that impacts the family budget and Paul does feel bad that he will spend such a large amount on a car that he is driving. It is an important decision, emotionally, even if ultimately the monthly payment is not that high compared to his monthly revenue. Paul needs to feel good and relaxed with this new car—not to feel guilty—and have the impression that he made a great decision for himself but also for his family.
Lisa Lam is looking for a treat. The handbag she is seriously considering is from a brand that she has never bought before. She is attracted by the buzz around this new handbag but still not sure if she should follow her impulse or stick to her preferred brand. Her trigger point might not be the bag but the brand; she needs to adopt the brand as well as the bag.
Paul Morgan’s intention is to optimize his personal finance with life insurance. He has always doubted these financial plans—preferring other, simpler and more transparent investments such as properties, stocks and bonds. He is feeling that this is something that he needs to reassess.
Sophie and Allan Williams have to make an important decision in buying their new home. It is certainly a very high price. More importantly, it might mean a good decision that they can be very proud of. Or it could be a bad decision and they will blame themselves. And they need to decide quickly— nice properties do not stay on the market for long.
The right approach is to ask yourself what the client’s needs might be; it is advisable to keep this in mind and prompt yourself to understand the client’s motivations. These are the real triggers.
Golden Rule Corner
Ask yourself WHY instead of WHAT. It is more about desire than needs? Find the right triggers.
Why are they here today?
Why today and not before?
Why are they using their precious time visiting you? Why not something else?
Why have they chosen this brand?
I recall Hans, a successful businessman. He is always dressed in "low-cost clothes," he said proudly, "because clothes are only to keep you warm." And he added that he stopped wearing a watch because cellphones are all able to give you the precise time. "Explain to me—what is the additional function of a watch?"
He asked me why a client would spend so much money on a watch that is even less accurate than his own cellphone. A wristwatch of that price, I explained to Hans, is no longer a time device. It is a time machine that we all have dreamt about. It is from the past, with all the heritage of over two hundred years of watch making expertise. It also offers you the possibility of setting the time you want, to arrive late or be in advance—which is not possible with the time on your phone. Hans finally purchased a mechanical watch and decided, that from now on, he will always be five minutes ahead of real time. Hans loved the idea that he would always have his own time.