"Do You Sell Inventory - Or Do You Validate Its Purchase" is the headline from Online Publishing Insider, it drew me into my own consumer behavior as I read the tale of the $1,329 glasses that the author purchased. In explaining his purchase he went through the some scenarious that you can relate to as a seller of Radio, TV, or Interactive with a few helpful insights into the consumer mindset and how to get your clients to feel good about spending money....
"I was the only customer in the store. I placed my scarf and coat on a bench by the window and asked the salesperson for help. She was a large woman dressed well, in purple, and she greeted me warmly. Eighteen minutes later I grabbed my scarf, put on my coat, and walked out carrying a great feeling about a decision to purchase an item for $1,329. My wallet threw up.
Does any buyer ever get sold? We think we sell our media inventory, but we would rarely admit to being "sold" when we are doing the buying. This example I shared can be an eye-opener, if I can convince you that the process of buying my glasses and what online publishers sell is relatively the same.
The intent to purchase has to be in place (consciously or subconsciously) for any product to get sold, so let's focus on how this salesperson made me feel good about the exorbitant amount I paid for what I bought.
Buzzed in.
From the moment I had to request permission to enter, the store felt special. From the d?cor to how the salesperson spoke of her product, there was a prevailing sense of pride and an overwhelming sense of privilege just being inside.
Are there any packages of inventory you have created that give your salespeople a sense of pride and your advertisers a relative sense of privilege?
Hooked on upgrades.
I tried on the most expensive rendition of the model I chose to buy because that's what I was handed. So when we sat down to go over the line item treatments and associated prices, I was already hooked on all of them.
How do you showcase the "top shelf" packages you create for your advertisers to consider, and can they visualize themselves in them before they decide to buy?
Moved on price.
When we arrived at the anti-glare line item, I asked to stop. There were two options; one for $89, the other for $179. I asked, "Can you give me the more expensive treatment at the lower price? I need to feel better about all of this." She did. We think buyers need movement on price to save money -- when, in fact, they need it to feel good about spending money.
Are there any line items built into your premium packages you are willing to eat if asked, in order for buyers to stomach a larger commitment than they had intended to make?
Moved me on benefits.
Did you know that glasses made in Germany are made finer than those in the United States? German engineering still carries a premium tune. Even after I handed over my credit card, the salesperson was still singing about the exquisite care that takes place in producing my glasses while providing assurances I would be happy when I returned to pick them up. She reminded me they were scratch-free, so I should feel free to wear them playing tennis (a pastime I had mentioned earlier).
After your clients buy from you, what do you do to make them feel good about what they purchased -- besides sending a revised insertion order and a date for lunch to celebrate your sale?
Instead of selling your inventory like most reps out there, try validating a buyer's purchase decision throughout the entire sales process, and see where that gets you."