It is a common misconception among salespeople and businesses that what they sell is their product. Once you understand this is not correct and can see what your product truly is, you will be on a rocket ride to greater profits, happier customers, and a new outlook towards sales.
In a recent survey, numerous salespeople were asked directly what their product was and 96% of them stated that what they sold was their product. Let's use a simple example to see why this not the case and can change the way you conduct business.
We will look at Mercedes Benz automobiles for ease of simplicity in our example. Salesman Joe is an proud salesman for Mercedes Benz Anytown and he has been an average salesperson for several years making a moderate income. When asked, "What is your product, Joe?" He responded, "The finest Mercedes Benz automobiles that are produced with the highest standards for quality, precision, and craftsmanship." Joe stood proud as if he nailed a perfect 10 on the floor exercise in the Olympics. He was beaming with confidence and he felt like his response was perfect and impenetrable. As the questioner stood silently for several seconds, Joe the salesperson began to look for holes in his response. Then Joe was asked one simple question that began his transition from mediocrity to sales superstar.
The question was this: "Joe, is that your product or Mercedes Benz' product?" Joe scratched his slightly balding head and began to search for an answer. He brought forth this response, "I guess it is Mercedes Benz product!" It produced an incredible "Oh my Lord" moment for Joe.
He next began to wonder what his product really is and we began to brainstorm to see what his product is as a salesperson of Mercedes Benz high quality automobiles.
As the person who asked the powerful question, I took Joe aside and sat down with my trusty dictionary and looked up the word "product". We narrowed it down to "a desired result, to create anything having exchange value".
Now we were moving forward with blazing speed. I next asked Joe the following questions to pull the correct response from him.
"Who will receive the Mercedes Benz Joe?"
"Do you want them to be happy?
"Do you want them to pay full price?"
"Do you want them driving a Mercedes home today?"
"Would you want them to send you referrals?"
"Would you want them to buy again?"
Joe thought for a moment and he came up with some ideas and with a little guidance and support we came up with this as what his product REALLY is;
"A SATISFIED CUSTOMER WHO HAS PAID FOR AND RECEIVED A MERCEDES FROM ME AND WILL REFER FUTURE PROSPECTS"
Joe's mindset started to shift immediately. He realized his product was a satisfied customer who purchased what he sold and is so happy they will return to buy more and will refer others to him. From that day forward, Joe reminded himself before he greeted a prospect what his product really is and he closed more deals for more gross profit than anyone in his dealership for the next six months. In fact, he went on to be promoted to sales manager and he credits this one small change to his approach as the factor that led to his success.
My question to you is what is your product? How can you profit from this simple change of viewpoint to grow your sales and grow your business to new heights? Your product is NOT what you sell; it is what you produce as a result of your efforts. Mercedes' product is fine automobiles. If you sell Mercedes, your product is far different.
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