Upsell! Overcoming Price Objections by Guerrila Sales Speaker Orvel Ray Wilson, CSP
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Transcript of Upsell! Overcoming Price Objections by Guerrila Sales Speaker Orvel Ray Wilson, CSP
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Presented by:Presented by:
UPSELL!How to Close More Businessat Higher Prices
UPSELL!How to Close More Businessat Higher Prices
Orvel Ray Wilson, CSPSr. PartnerTHE GUERRILLA GROUPinc
Orvel Ray Wilson, CSPSr. PartnerTHE GUERRILLA GROUPinc
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It’s a Jungle Out There!It’s a Jungle Out There!Economic UncertaintyEconomic Uncertainty
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$9M
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It’s a Jungle Out There!It’s a Jungle Out There!Economic Uncertainty
Ruthless Competition
Economic Uncertainty
Ruthless Competition
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It’s a Jungle Out There!It’s a Jungle Out There!Economic Uncertainty
Ruthless Competition
Customer Expectations
Economic Uncertainty
Ruthless Competition
Customer Expectations
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It’s a Jungle Out There!It’s a Jungle Out There!Economic Uncertainty
Ruthless Competition
Customer Expectations
Pressure on Prices and Margins
Economic Uncertainty
Ruthless Competition
Customer Expectations
Pressure on Prices and Margins
Slowly but Surely
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What do we Mean by “Guerrilla”?What do we Mean by “Guerrilla”?
The most successful marketing series in history:
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•Generic•Generic
Sell The Total ProductSell The Total Product
“This DVD player sells for less than DVD players costing twice as much.”
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Why Sellers Think Price is More Important than it Really IsWhy Sellers Think Price is More Important than it Really Is
They ALWAYS ask you to cut price, because . . .
They often really CAN get it cheaper
Why are they talking to you?
They ALWAYS ask you to cut price, because . . .
They often really CAN get it cheaper
Why are they talking to you?
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What That Customer REALLY wants is:What That Customer REALLY wants is:
YOUR productYOUR technical expertiseYour availabilityYOUR serviceand THEIR price.
YOUR productYOUR technical expertiseYour availabilityYOUR serviceand THEIR price.
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Why you don't want price shoppers as customers:Why you don't want price shoppers as customers:
They gobble up your time
They do all the complaining
They brag about the deal they got
They’ll steal your ideas, information and knowledge
You establish a precedent
They gobble up your time
They do all the complaining
They brag about the deal they got
They’ll steal your ideas, information and knowledge
You establish a precedent
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Why you don't want price shoppers as customersWhy you don't want price shoppers as customers
They gobble up your capacity–If you cut your price by 10%,
you have to double your unit sales volume by just to make up the difference.
They gobble up your capacity–If you cut your price by 10%,
you have to double your unit sales volume by just to make up the difference.
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Do the Math:Do the Math:Total Sales
COGS
Gross Margin
G&A Fixed
COS Variable
Total Sales
COGS
Gross Margin
G&A Fixed
COS Variable
$1,000,000
$650,000
$350,000
$200,000
$150,000
$1,000,000
$650,000
$350,000
$200,000
$150,000
65%
35%
20%
15%
65%
35%
20%
15%
Potential Profit: 20¢Potential Profit: 20¢
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Do the Math:Do the Math:Total Sales
COGS
Gross Margin
GS&A Fixed
COS Variable
Total Sales
COGS
Gross Margin
GS&A Fixed
COS Variable
$ 900,000
$650,000
$250,000
$200,000
$150,000
$ 900,000
$650,000
$250,000
$200,000
$150,000
100%
72.2%
27.8%
20%
15%
100%
72.2%
27.8%
20%
15%
20%20%
Potential Profit: 11.1¢Potential Profit: 11.1¢
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You Have to Increase SalesYou Have to Increase Sales
$1,801,801.8080% increase in Dollar Sales just to make the same amount of money.But DOUBLE the unit salesThe lower your margin the worse it gets
$1,801,801.8080% increase in Dollar Sales just to make the same amount of money.But DOUBLE the unit salesThe lower your margin the worse it gets
Low Bidder
“How did I go broke? I was the low bid!”
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On the Other Hand:On the Other Hand:If you RAISE your price by 10% you can lose 34% of your sales and STILL break even.
If you RAISE your price by 10% you can lose 34% of your sales and STILL break even.
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•Generic•Generic
•Expected•Expected
Sell The Total ProductSell The Total Product
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What They Really Need:What They Really Need:Two or more vendors
Technical and engineering help
On-time delivery
Minimize downtime
Clinical education
To buy what they’re told to buy
Two or more vendors
Technical and engineering help
On-time delivery
Minimize downtime
Clinical education
To buy what they’re told to buy
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What They Really Need:What They Really Need:Feel like they’re taking better care of the patient
Meeting business needs
Minimize service and repair costs
Avoid over-engineering the solution
Feel like they’re taking better care of the patient
Meeting business needs
Minimize service and repair costs
Avoid over-engineering the solution
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What They Really Need:What They Really Need:Workflow and productivity solutionsTimely and accurate CPT billingPredictability and consistencyResponsive, courteous and timely action by vendors when they have questions or problemsLook good to their boss.
Workflow and productivity solutionsTimely and accurate CPT billingPredictability and consistencyResponsive, courteous and timely action by vendors when they have questions or problemsLook good to their boss.
“Discouraging data on that new antidepressant.”
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•Generic•Generic
•Expected•Expected
•Augmented•Augmented
Sell The Total ProductSell The Total Product
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The Law of the Slight Edge:The Law of the Slight Edge:“The difference between a champion and an also-ran, more often than not, is a very slim margin.”
“The difference between a champion and an also-ran, more often than not, is a very slim margin.”
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Philip’s Position in the MarketPhilip’s Position in the Market
We’re #4 in CT – Leader in Cardiac Imaging
» CT, 64, 128, 256, CV, Hybrid CV
– 256 iCT Platform
– 130 units installed
Don’t let others tell your customers where you’re positioned
We’re #4 in CT – Leader in Cardiac Imaging
» CT, 64, 128, 256, CV, Hybrid CV
– 256 iCT Platform
– 130 units installed
Don’t let others tell your customers where you’re positioned
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Philip’s Position in the MarketPhilip’s Position in the MarketUnified Approach leveraging relationships and solutions across modalitiesTell the Full Story– “The Company That Cares”
The Year of the UpgradeUPSELL! the 64 to 128 or 256
Unified Approach leveraging relationships and solutions across modalitiesTell the Full Story– “The Company That Cares”
The Year of the UpgradeUPSELL! the 64 to 128 or 256
Brussels Sprouts
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•Generic•Generic
•Expected•Expected
•Augmented•Augmented
•Potential•Potential
Sell The Total ProductSell The Total Product
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Customers Will Pay MoreCustomers Will Pay MoreQuality
Authenticity
Stability
Reliability
Social or Ecological Values
Quality
Authenticity
Stability
Reliability
Social or Ecological Values
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Customers Will Pay MoreCustomers Will Pay MoreKnowledgeable salespeopleKnowledgeable salespeople
“Mr. Colton, do we stand behind our products?”
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Customers Will Pay MoreCustomers Will Pay MoreKnowledgeable salespeople
Reputation
Partnership
Consistency
Customization
Knowledgeable salespeople
Reputation
Partnership
Consistency
Customization
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Customers Will Pay MoreCustomers Will Pay MoreAuthority
Popularity
Exclusivity
Scarcity
Trade-in
Authority
Popularity
Exclusivity
Scarcity
Trade-in
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Customers Will Pay MoreCustomers Will Pay MoreMiniaturization
Ruggedization
Availability
Delivery
Expediting
Miniaturization
Ruggedization
Availability
Delivery
Expediting
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Customers Will Pay MoreCustomers Will Pay MoreFlexibility
Financing
Advanced technology
Arrives in perfect condition
Flexibility
Financing
Advanced technology
Arrives in perfect condition
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Customers Will Pay MoreCustomers Will Pay MoreProblems fixed quicklyProblems fixed quickly
“You really should have called me sooner.”
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Customers Will Pay MoreCustomers Will Pay MoreProblems fixed quickly
Environmentally friendly–78% Said they would pay $2,000 more
for a car that gets 35 mpg
Benefit a third party
Problems fixed quickly
Environmentally friendly–78% Said they would pay $2,000 more
for a car that gets 35 mpg
Benefit a third party
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Customers Will Pay MoreCustomers Will Pay MoreLocal Sourcing– 82% have consciously supported local or
neighborhood businesses
Brand Names
Referral
Local Sourcing– 82% have consciously supported local or
neighborhood businesses
Brand Names
Referral
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Customers Will Pay MoreCustomers Will Pay MoreReduced liabilityReduced liability
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Customers Will Pay MoreCustomers Will Pay MoreReduced liability
More fun.
Reduced liability
More fun.
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To Arrange for Orvel Ray to Speak to Your Convention, Conference or Sales Meeting
To Arrange for Orvel Ray to Speak to Your Convention, Conference or Sales Meeting
Call: 800-247-9145 to receive a Complimentary Video Demo
www.GuerrillaGroup.com for details
Call: 800-247-9145 to receive a Complimentary Video Demo
www.GuerrillaGroup.com for details
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