Grant Cardone owns several businesses and relies on his selling abilities to scale multiple companies and become a billionaire. Learning how to sell is one of the most valuable skills any business owner can learn, but there is a big misconception in the industry.
Cardone recently revealed what it takes to get an incredible amount of sales, and price has nothing to do with it. He sells offers with a wide range of price points, and some of the products he's selling are worth $20,000 or more. Since he's selling products with those high price points, there's more to selling than having the most competitive price. These are the key takeaways for any entrepreneur who wants to boost their conversion rates.
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Price Cannot Be An Objection
Cardone starts the clip by explaining that price cannot be an objection. People are willing to pay a lot of money for the right product or service. However, most people wouldn't pay a discount to buy a rotten apple with mold.
People will steer clear of low-priced offers that have low value. However, those same people will buy something expensive if the value makes sense. When someone says that something is too expensive, it's a sign that they don't see the value in a product or service.
If you could spend $1 on social media ads and get $2 back every time, you wouldn't worry about the price. People in that spot spend as much money as possible on social media ads. When someone says that a product or service is too expensive, you have to dig deeper and ask the right questions to determine the real reason someone isn't ready to buy.
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Understand The Customer
A key part of selling is understanding your customer and what they want. Some businesses create customer avatars, which present a hypothetical person who is interested in your products and services. Knowing how to communicate with this customer avatar can make it easier to sell to promising prospects when you're on the phone with them.
Brainstorming a list of potential motivations and pain points for your potential customers can help you present your offer more effectively. That way, the conversation shifts away from price and focuses on the value that a product or service can provide for the customer.
You can learn more about your customers by speaking with them more often. Every phone call, social media post, and email correspondence will give you more confidence when talking with future prospects. If you don't have a customer pipeline, you can lean on online communities like Reddit and Quora to see how your target customers think.
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Present A Desirable Outcome
If you know your customer, you can present a promising result that's only possible if they buy your product or service. Cardone wraps up the video by sharing how he sells his $20 book.
Instead of focusing on the price, Cardone gets clear on the results you can get from his book. He mentions that most people would agree that $20 is too expensive for a book. You can get a bunch of eBooks for $20 instead of buying one book for $20.
However, Cardone knows that anyone who wants to buy his book on selling wants to get more sales. He uses this knowledge to present a compelling pitch off-the-cuff. Cardone says that you can read his book, take any technique in it, and get more sales. He mentions that if you apply one of his book's tactics to your next sales call and don't make an extra $20, he will give you your $20 back.
While $20 may seem expensive for a book, it's well worth the investment for anyone who makes thousands of dollars in sales because of the strategies in that book. Framing the pitch this way lets Cardone focus on a major motivator: getting more sales. The conversation shifts from price to value, and it explains why Cardone has been a successful salesman for many years.
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