The Top 5 Things You're Doing Wrong When Selling Your Collection to a Buyer
Have you ever got the attention of a hard to reach buyer who finally agreed to view your collection? Yes? Yess!
I vividly recall landing a sales meeting; with a buyer, that I was literally chasing for 8 months. EIGHT MONTHS!
I thought, Score! This is my chance and I can’t mess this up.
With excitement, the size of Mount Everest I quickly started to plan, prep and think about how I would lead the meeting.
When the day finally arrived, I was super pumped and immediately channeled my charismatic demeanor.
At the start of the meeting, I greeted the buyer and eased into things organically. As I was highlighting product, the buyer is jotting notes, asking questions and shaking his head in agreeance with me.
“Fantastic! I thought, cool! I am on a roll!”
35 -40 minutes into the meeting I noticed a sudden change.
For some reason, the buyer wasn’t AS interested.
I wondered, OMG! What is happening?
Dying on the inside because I really wanted to know what the buyer was thinking, I asked: “So what did you like from the collection?” he replied with those six dreadful words:
I liked a few different things but I NEED TO THINK ABOUT IT.
Um, think about what, Mister?!
Perplexed and a bit frustrated, I said okay and hoped he’d call me the next day.
So, what did I do wrong?
Based on statistics, some people in sales are notorious for inadvertently doing one of the following five wrong things when selling to a buyer:
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1. Showing irrelevant merchandise: Although we personally adore our own brand and think everything within the collection is destined to sell unfortunately that isn’t the case.
For example, if you’re trying to sell to a store whose core values consist of “American Made” items, please do not show products made in China.
You need to know exactly what to show the buyer. You must do your homework beforehand.
By doing so the meeting may result in an order instead of “let me think about it”.
Key Takeaway: When showing your collection only show relevant items that tie back to the current merchandise and aesthetics of the store you are trying to sell into.
2. Over talking: Over speaking can cause one to talk themselves completely out of an order.
So how do you know when you are talking too much? Simple. By asking yourself, am I having a dialogue? Or Am I asking open-ended questions?
By pausing and quickly reflecting on such questions can literally land you an order.
Key Takeaway: Listen more than you speak and if you find yourself talking too much, stop and ask the buyer “So what do you like from the collection and why?”
This will shift the conversation and cause the other party to speak.
3. No price or line sheet: In some situations, you cannot bring all items with you to a meeting so it’s imperative a line-sheet or price sheet is ready and available.
Not having this key tool can create the perception that you aren’t prepared.
Key Takeaway: Think of a line-sheet as your personal assistant.
Line sheets are designed to spell out the product features such as origin, colorways, sizes, and content.
By having this piece of paper ready it will save you time from explaining detail on each item.
4. Not selling the solution: It’s common for sales reps to go on and on listing features and benefit of a product. While those things are important the buyer really wants to know how it will add value if purchased.
Key Takeaway: Keep in mind the purpose of the meeting. You are selling a resolution, not just another item. When showing and explaining your product be sure to explain HOW the store will benefit.
5. Not Asking for the order: Be mindful you are in the meeting for a reason: To CLOSE the deal. Do not be shy and ask for the order. Think about it, the “hard to reach buyer” carved out time in their busy schedule to meet with you; obviously, they like something from your collection.
Key Takeaway: Just ask for the order. If you’re having trouble try this: So, which items are your favorites? They will tell you then you’ll say, “Great, let’s start writing an order for all the must haves first”. Then begin to write.
Bring it all together: No matter how long you’ve been selling, when you’re meeting with a potential client it can be pretty nerve racking.
Nonetheless, to ensure you land your dream account be prepared so that you can avoid these most common mistakes when selling your collection.