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Principle VI

Sales

Sell What the Prospect Wants & What the Product Does

Two of the most valuable lessons we need to understand in order to achieve success in sales are:

1. People buy what they want, not what they need, and
2. People buy what our product (or service) does, not what the product (or service) is.

One of the most frustrating things about sales is that you may know beyond any doubt your prospect needs your product (or service), but they do not purchase your product (or service) because they do not want it. On the other hand, you will meet prospects who have no apparent need for your product (or service) but purchase it anyway.

If you are selling a product (or service) which provides time off for your prospect—time off that they do not want—they will not purchase from you. Many people need reliable transportation at a reasonable cost. What they end up buying is an expensive vehicle, which may stretch them financially. Yet they buy it because they think it looks good. What they needed was a mini van, and what they drove off the lot was a convertible or gas-guzzling SUV.

When you are performing your “needs analysis,” you must always ask your prospect what they want. Remember that their wants are, to them, a “need.” It may be a need to boost their ego, or a need to impress people they know, but to your prospect that need is as legitimate as the need to have reliable transportation. This is the emotional side of selling. Wants are emotional, and your prospect is seeking from you the logical justification to make the purchase, which is the need.

We must learn how to sell what our product (or service) does, not what it is. A vast number of bread toasters are sold every year, because what people want is a slice of toasted bread. They bought a toaster because they needed to have a slice of toasted bread. The reason why there are so many toaster models is that some people want to toast muffins or bagels, not bread. They may purchase one with a white exterior instead of a silver surface, so as to match their kitchen aesthetically, but what they want is a slice of toasted bread. What our product (or service) does is the logical side of selling and justifies the purchasing decision.

For maximum sales effectiveness, learn to sell both what the prospect wants and what the product does.