Most people think the key to succeeding in business is having a great product or service.
But guess what? People don’t actually buy a product or a service; instead, what they actually buy is the feeling that they believe your product or service will give them. I’m sales expert Steve Jensen, and in this article I’ll explain how to make sales in a start-up business.
Think about that for a moment. We buy the feeling that a product or service gives us, or that we think it will give us. Of course, most of us don’t even realise this is what they’re doing, but we are!
So how can this insight help you, as a start-up business, to make sales and succeed over the long term?
Well, if your start-up business can zoom in on what feelings your product or service will give people, then half the battle is won.
The formula for making more sales than you ever imagined, is this:
Step 1: Identify the problem that your business will fix
Everyone has problems, also called “pain points” or “agitators”. Your business should fix the big problems because that’s how you make the big bucks. The way your start-up can fix your clients’ agitator is to ensure your product or service delivers any or all of the following solutions:
- It helps make more money.
- It reduces costs.
- It saves time.
- It reduces frustration and worry.
So ask yourself “what do you fix?” Do you even know what you fix? When I ask people this question they usually come back with an answer that describes what they do; it’s rarely about what they’re
fixing – but it should be, because if you’re fixing those big problems, then the big bucks will follow.
Step 2: Link your solutions to an emotion
It is absolutely critical that your business fix is linked to an emotion. You want to ensure that you are always positioning your start-up in terms of what it fixes, not what it does, how it does it, or what it achieves.
So when you think about the pain points that your business repairs, you need to express the relief and emotions it brings to your clients – for example, it reduces their stress, or increases their sense of peace and freedom.
When you explain exactly what it is that you fix, you need always to attach an emotion.
Because, after all, remember – it is that emotion your customers are actually buying into.
Step 3: Identify your USP’s
This is critical because when someone tells you what their problem is and you find out what you need to fix, the next step is to give them a solution.
But the secret here is to ensure you are perceived as the authority in the marketplace.
In other words, you are the expert and specialist in that area, and you are the only one who does what you do.
“USP” means “unique selling point” and every start-up should have a minimum of 5, but ideally 20 USPs. Your USPs are identified by being able to say “I am the ONLY one who XYZ”, where XYZ may be the largest, the smallest, the first, the fastest, whatever… Be aware, the “newest” is never a good USP to choose because there will always be newer things coming into the marketplace.
The formula for USP-ing is as follows:
- Identify the pain point
- Bring it up in conversation
- Tell them, “We have product or service that will fix….[insert the pain point], thanks to… [insert your USP]”
- And at the end you confirm your USP again, by saying, “By the way, we are the only business who offers this product or service.”
- This part is critical. You must then make sure you say this: “… and the benefit to you is [insert the benefit] so that you can [insert the emotion they’ll experience, such as peace of mind, freedom from worry, more money, etc]”
I then usually finish off the conversation with a closing statement such as “How good is that?” or “are you feeling more relaxed now?” so they get confirmation that something really positive is about to happen.
When you use this strategy, your clients will be motivated by the emotional connection to your business, not by the product or service itself. Remember, they’re not buying your product or service, they are buying the feeling that it will give them.
To find out more about this formula for start-up success, book your preferred time to chat with Steve: Book a time to chat to Steve.
Join Steve’s (Dr J’s) FB Group, where he does live weekly coaching. The groups name is The Impact Sales Success Club.
Download the latest eBook from Impact Training: Make More Sales With These 7 Questions
Article written by Steve Jensen for the What’s New in Fitness Magazine – Winter 2018 Edition.