Top down selling is an interesting topic as I read across the net. I come to find out my idea of top-down selling is in some ways different than what most people have written. My idea of top-down selling is more like a negotiating tactic or method. This is a method that helps the buyer feel good about making their buying decision. Since you give them the reins to customized the product with your guidance. In essence, this forces you to become an expert in your product and an expert in your pricing and promotions. This method also helps you become an expert in sales fundamentals. Such as negotiating tactics, reading and communicating with customers, and closing techniques. Let me explain
1. Selling From The Top
So after you get through your introduction to who are you? and why are you there? and it is about that time you are about to give your valued recommendation. Your valued recommendation should never start with the price. Never ever sell on price. If you gain a customer on the price you will lose a customer on price. This is so true. Anytime I have seen a customer that was won over based on price was also lost on price when they contacted the competition and simply asked “can you beat this price?” A mentor of mine used to always say keep your hand out of your customers’ pockets. What is expensive to you may not be expensive to someone else. Expensive is a relative concept.
In top-down selling, it is ideal to start with your most extravagant luxurious item. The item with all the bells and whistles. The service that comes with all warranties and support that may last a lifetime. The customer may like all the bells and whistle when you mention it. They might see a whole lot of value once you explain it. Since you are the expert you can make almost anyone get excited about the products you offer.
You being the expert should know this but customers get excited when you are talking about the things they enjoy and not only what you like. Remember this is not about you this is always about the customer. Customers get excited when you are discussing how your product benefits them. Think of WIIFM pronounced whiff-em. WIIFM stands for What Is In It For Me. Act like the customer is silently telling you this everytime you mention a feature.
2. Navigating Your Recommendation
After you enthusiastically explain your most extravagant product, you explain the price and the customers’ excitement comes down because they figure out that all add-ons you gave them might be a little more than they need. Instead of the customer coming down on a hard crash you can ease the customer with a less extravagant product of yours.
This customer interaction becomes more of a negotiation or haggle. Similar to like if you were in your local flea market, and haggling with the vendors. Step by step ease your way down to where your customer feels as if they are getting more value with a price they seem comfortable with. It is a good idea while in this state of the negotiation process to give them a promotion or two.
Feel your customer out. Pay attention to their words, the tone in their speech, their facial expressions and most important pay attention to their body language. If a customer’s eyes light up most likely they like what you are saying and it interests them. If they look bored or even tired then most likely you are not creating enough excitement.
When listening to the words your customer speaks and they are copying or using the same words you are using most likely they are engaged in the conversation. If they are mentioning other things besides the general subject you are talking about then most likely they might not be too interested in what you are saying. Reading customers is a great topic we can write an entire article on that I will get into in the future.
3. An Expert Negotiator Is a Happy Customers
When interacting with customers you should always be making them feel special. Compliment them but do not sound fake or not genuine because customers can read fake salespeople miles away. It is obvious why you want your customer to feel happy.
Our reason for people to be happy is that people buy with emotions and if you get a customer excited and happy when you are negotiating with them they will be more inclined to buy from you. After the entire haggle process you and the customer worked hard on a suitable agreement. You conformed the product around what your customer considers the best value for the cost. Your customer should feel happy as if they worked from a high priced deal to something they feel is a great deal they worked for. They might feel a little boastful and you should let them. They might brag to their friends how they are an expert negotiator that just worked out the best deal possible. If it makes them happy just let them brag. You should understand being humble is the key to your victory in the end. The customer should have the perception that they negotiated a deal that if it wasn’t for you they could have not got a better deal. This will, in turn, make it more solid and help from the customer feeling buyer remorse.
4. Why is Top Down Selling The Key To Selling Correctly
After all, is said and done if you are using this tactic correctly means that you have come over the rookie mistake of selling based on price. You are not afraid to lead with the highest priced product you can offer. You are able to navigate the sales process by listening to your buyers’ words and body language. You are able to get your customer excited about the products you offer. You spend quality time with the customer understanding their needs building a relationship and making a solid sale that will be less likely to cancel and more likely to stick with you for a long time.
5. Top-Down Selling: My final thoughts
Top-down selling is just one key method that can help you improve your sales performance and hopefully give you an income raise. With that said there are many techniques, tactics, and methods. If this method resonates with you all you need to do is practice it role play with others doing real case scenarios. You should be effective if you practice it.
Just remember there are many techniques and I would suggest that you have a few techniques and a few closes in your arsenal because when working with people you have to expect the unexpected. There are always different challenges and nothing is ever the same. The only thing consistent in sales is change.
So have you been successful using the top-down selling method? Or what method have you used that help you in your sales career?