Updated: Sep 5, 2020
The Truth About Why People Buy (A good article by my friend, social media coach & renown sales trainer Eric Feng! Check him out on IG, https://www.instagram.com/ericgoesglobal. He’s awesome!)
Are you a champagne lover?
I am not but my friends are.
So last weekend, I got to drink A LOT. Like 10 bottles at least.
We had Moet Chandon.
We had Dom Perignon.
We had Krug.
To me, they taste the same.
My friends will cry sacrilegious if they read this email haha.
The pricing however differs significantly.
A Moet is HKD300.
A Dom Perignon is HKD1500.
A Krug is HKD2500.
So, what are we buying here really?
I think not.
I believe what we are buying is the BRAND and the STATUS it brings to us
when we are seen drinking the particular brand.
Now you may think that is superficial but if you look around you, you will realize
that STATUS makes or break the sale.
Almost every choice in life revolves around status – whether you know it or not.
The school you go to.
The car you drive.
The company you join.
The people you hang out with.
Each time we consider your proposal, we ask ourselves:
“Will buying from you make me appear smarter, happier, wealthier, more stylish, more powerful or more attractive?”
If your prospect answers “YES”, they will buy because all these things increase their status.
But if buying from you decreases their status and make them look stupid in front of their family members and friends, they will not buy on matter how good your product or service is.
This is why selling insurance is so difficult.
Because the professional status of an insurance agent is not as high as a doctor, a lawyer or even a teacher.
Just introduce yourself as an insurance agent or financial advisor in a networking event and you will know what I mean.
Insurance itself is also perceived as a low status product, compared to a Chanel handbag or a Lamborghini.
Think about it, your prospects are willing to splurge tens of thousands of dollars on a branded handbag but they will fight a tooth and a nail with you when you get them to set aside a few hundred dollars every month for insurance.
Now before you feel depressed and quit your job, I’ve got good news for you.
There is still one factor that can help elevate the status of your prospect when they buy insurance.
And that factor is YOU.
If you are regarded by prospects as a TRUSTED AUTHORITY, maybe even a CELEBRITY ADVISOR in the market, they will want to buy from you because it elevates their status.
And when you choose to advise them, it makes them look good in front of their friends and family because you (MR or MISS POPULAR) chose to work with them. They must be very important too.
Yes! This BITTER MEDICINE IS HARD TO SWALLOW but as the saying goes:
The truth hurts but it will set you free.
People do not appreciate you until you become a somebody.
This is why in 2019, if you want to hit your sales targets quickly and effortlessly, you got to invest time, effort and money to build your personal brand.
You got to work at becoming known, loved and respected.
Only then will you ATTRACT profitable prospects who will buy from you and you only.
So team, are you taking your personal branding seriously and building it the way it deserves to be build?
If not, it is time to do so.
Remember, the same methods will only bring you the same results you have gotten so far.
Change is necessary.
Do what is best for your business; not what you feel or don’t feel like doing.
Let’s get down to do it! 💪🏻