Monday, December 19, 2016

Fancy How to Sell More Features

When suggesting to shoppers an item that comes in a barebones version, a fully loaded version, and maybe versions in-between, where should you start? The primary rule is to discover enough about the prospective customer to decide which model would best meet their needs. Precede your recommendations by probing about how the shopper plans to use the item. This line of questioning provides you the information to deliver advice which is on-target for this individual consumer. It also means your recommendations will come across as credible.
     But what if a range of option loadings could meet the shopper’s needs and the higher-priced alternative with more features would better meet your revenue needs?
  • Researchers at National Chiao Tung University in Taiwan found that the best strategy depends on how far in the future the shopper plans to use the item. For nearer timeframes, consumers find it easier to decide on the purchase when the salesperson begins with the basic model and then builds up with the options, asking the shopper to think about the outcomes of using the purchase. For more distant timeframes, the sale will move along more smoothly if you present the bells-and-whistles option and then, if the shopper seems overwhelmed by the complexity or the price, proceed to prune down, all the while encouraging the shopper to think about the process of learning to use and then getting use out of the item. 
  • If the time frame for usage is not clear, encourage the person to focus on just this one purchase, forgetting for a moment the other items on their shopping list. Then start with the fully loaded model, studies at Bentley University indicate. Shoppers who appreciate the appeal of this fancy model become more likely to consider the price of the model with fewer options to be a good deal. Therefore, the introduction of the fully-loaded model can be an especially helpful selling technique at the point where the shopper has concerns about the price of whatever other model they have their eye on. 
  • If as you provide your recommendations, you sense that the consumer’s trust in you is starting to fade, encourage the consumer to settle on less. In a group of studies conducted at University of Maryland, participants were offered a choice from three versions varying in complexity. Post-usage inquiries showed that those who selected a simpler version of the product ended up happier. 
For your profitability: Sell Well: What Really Moves Your Shoppers

Click below for more: 
Describe Fully-Loaded Items to the Focused
Offer Customers Basic Plus Add-Ons
Build or Prune Depending on Trust Levels
Accent the Emotions when Imminent Usage

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