Selling Big Ticket Items: The Master Method
By Michael W. Lodato Ph.D.
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The foundation for this 140 page book is the MASTER Method selling system specifically designed for both rookies and veterans.
Big ticket items and services — what are they?
You see big ticket items all of the time. That one hour photo processing machine at the drug store was sold by a salesperson. The car wash that you take your auto to is a big robotic system that was a big sale for someone and many of the components of that system (e.g. the dryers) were big ticket items when they were sold to the contractor who erected the car wash.
You might identify better with other examples such as residential homes, home renovation projects, landscaping projects, business systems, roads and sidewalks, parking structures, and college dormitories.
Characteristics we find in the sales of big ticket items include:
- The products and services are of relatively high price
- The duration of the selling process is relatively long and consists of several steps
- The duration of the process that buyers go through is relatively long
- The buyers are usually looking to purchase against a set of specifications — they are looking for a solution.
- There are usually steps in the selling process to learn about and get agreement on the needs and wants of the buyers.
- There is often a team of people on the buying side
- Sometimes the salesperson needs help from others (team sales)
- The product often needs explaining
- There is usually competition to deal with
- They are rarely sold from a retail store
- The complexity and prices of such offerings justifies the cost and selling time of a field sales force.
For over three decades the MASTER Method has been adopted by many sales and marketing executives. Seasoned salespeople have reported that the training has shown them areas where they had become slack, and the structure of the materials has showed them how to integrate techniques that have been successful in the past.
Some benefits the reader should get from the book.
This book provides, among other things:
- A systematic day-to-day process to help you sell more, in a shorter span of time, without wasted effort..
- Forms to help you avoid wasting time with unqualified prospects
- A structure, the MASTER Method, for relating the important sales principles and techniques so they can be easily recalled and applied
- A selling system consisting of a sequence of steps that you will take with the prospect to make a sale,
- Guidance on how to apply the MASTER Method at each step to achieve incremental levels of commitment from the prospect until he or she makes a buy decision.
- Guidance for conducting productive sales calls and giving effective sales presentations
- Specific scripts for handling prospect stalls, objections, and other obstacles to the sale
- Annotated outlines for various types of proposals you may have to prepare and present
- A structured questioning approach to help you get prospects to state explicitly the problems that are uppermost in their minds, benefits that they most want from the product or service, and criteria they will use in making their decision.
- The closing techniques most appropriate to the selling of big ticket items.