One of the mastermind groups I belong to was having a discussion about a certain business model a member had. It really wasn’t congruent with his business plan any longer and it was actually hurting his core business. So he was debating the merits of shutting it down. Everyone was sharing his or her suggestions for the best way to do that.
I interrupted the discussion with an alternative: give the venture to me, I would invest in it, and send him twenty percent of any profits I made in perpetuity.
Several other members had a similar business model and they immediately wrote in to say why this was a bad idea and wouldn’t work. (People are cheap, they expect everything for free on the Internet, etc.) I refused to believe this and offered to prove what I was suggesting could increase profits on their own websites.
I’m a very good marketer and successful entrepreneur, and these people are aware of my success, so you probably think I was deluged with offers.
Nah.
Instead they doubled down, sending even more responses explaining to me why their markets are cheap, don’t spend money, won’t buy high-dollar products, expect everything for free, and/or won’t respond to marketing.
And my mastermind group isn’t alone…
Back when I still did consulting, I heard variations of this from almost every client I had. Everyone thinks they’re in the cheap market and the lucrative one is that one over there.
Right now you have certain beliefs about your business and your customer or prospect base. You believe there are certain price points or conditions they will accept and you have evidence to support your beliefs. But those beliefs are probably wrong. And they’re not serving you or your customers.
The “evidence” you’re relying on is the fact that most of the leads you get don’t convert into customers, or most of your customers purchase the lowest priced products, or that when you attempted to raise your price, you lost some customers. And based on that evidence, you’ve come to the belief that the people who are your prospects and customers are cheap and/or expect everything for free.
Here’s the truth…
Your customers are simply responding to the way you’ve trained them. Because we all train our lists/readers/customers/subscribers/prospects.
We teach them that we are here to give them shit for free, we train them that our stuff is worth minimal or negligible value, or we convince them that we offer a true value at any price point.
It’s true that not all your prospects are going to buy, and of the ones who do, many won’t big high price point items from you. But that’s not because your people are cheap; it’s because you aren’t doing your job well.
Other than the occasional ascetic and those living in Buddhist monasteries, the people you are labeling as cheap or non-responsive are still people with hopes and dreams, problems and aspirations, fears and wants, needs and desires.
They are buying cars, houses, video games, books, info products, iPhones, football jerseys, Beats headphones, HD TVs, elves on shelves, One Direction albums, wrench sets, $250 Nike sneakers, jewelry, washing machines, cameras, seminars, streaming movies, and millions of other items. And they were waiting in line at 4 am on Black Friday to max out their credit cards buying numerous products of nebulous value.
Ninety nine percent of your prospects are spending 100 percent of their paycheck every week. (And then some, since the average person lives on about 115% of what they make.)
Let those last two sentences really sink in for a second…
Please don’t delude yourself that your prospects don’t have money or don’t purchase things. Let’s just accept that they may not be purchasing things from us in the quantities or price points we want. And that isn’t their fault. The fault is completely and entirely our own.
It is not our prospects’ and customers’ job to know what products they want. It is our job.
Any time our customers aren’t buying enough products or services from us, it’s because we either haven’t:
- Brought them into our orbit. (Getting them to visit our retail location, sign up for our e-zine, visit our blog, subscribe to our newsletter, joined our association, contributed to our charity, etc. This is usually the hardest part – and the part you’ve probably already done.);
- Taken the time to discover what their problems and aspirations are and how we can help them;
- Created or sourced products that would help them reach their dreams, goals and desires; or,
- Priced, packaged, or marketed those products in an effective and compelling way.
All prosperity is created by doing one or both of two things:
1) Solve problems
2) Add value
When you solve problems or add value, people will crawl naked over broken glass to throw money at you.
Please. Stop trying to convince me your customers don’t have money or don’t spend it. They do and they do. The better discussion is the one centered on how you can solve problems and add more value, so more customers and prospects spend more money with you.
Want to know how to massively increase your sales? Stop talking yourself out of it.
Last thoughts: before you post any comments below explaining why your business is different and what we’re talking about won’t work for you – please remember this:
Only argue for the limitations you want to keep!
-RG
Reader interactions
62 Replies to “How to Increase Your Sales”
Awesome post Randy! And a great reminder for us.
BobBurg Mad love…
Awesome post. Everyone needs to read this daily first thing in the morning when they get up. You have told us all so many times, the first sale has to be to yourself. Whether you think you add value and people want more of your value…or whether you think people don’t value your gifts, you are right.
TravelVirginia Thanks 4 getting the word out.
In the same vein, telling stories that not only entertain but AFFECT people in positive ways gives them incentive to tell others they know..who then tell more people and so on.. Good stuff here RG as always.. Happy Festivus!
love it randy, dead on. ……. it was awesome having you on our radio show…was it 2 years ago already! keep doing what you are here for….david essel
DAYUM. That hit me in the gut! Needed that. You rule, as always. Xoxo
¡Oh, my god! That`s exactly the words I was looking for.
Abundance is a mindset as well, so if you think everyone is cheap, and your thoughts are also thinking cheap thoughts it goes to stand that you won’t step out of your comfort zone to create wealth and take the action steps necessary let alone have the mindset of success to draw clients. High End Clients want to know the person their hiring not only can deliver high content, high quality, however have the mindset and attitude to go with it at least that has been my experience.
You can market my business , but I’d like 30%
Great article.
Hahahaha love it! Thanks for all you’ve said! #KeepWINning 🙂
Awesome info and so true!
GoforNo Thanks!
lifetosuccess Thanks!
I think I have known this for a while in the back of my mine, but I’m glad you brought it to the front. I know people spend money when I’m not around, but it didn’t make sense why they they didn’t spend with me. Thanks again.
A Great Year end perspective! Thanks Randy!
Unlearn what dis-empowers and learn what empowers.. it’s on an ongoing process. Think like a marketer! ie: FROM a marketing mind.
Great post Randy – really resonated with me and it truly makes sense. Thanks for sharing!
You boiled it down to four words- Solve problems, Add value. Reminds me of the back of a shampoo bottle; lather, rinse, repeat… Keep it simple. Thanks for bringing it back to the forefront.
BangGowes Thanks 4 getting the word out.
Bang on Randy… and I love your last comment…. “Only argue for the limitations you want to keep!” I will use this when chatting to other people about various issues – and myself sometimes 🙂
Awesome article Randy sir. And the last line reminded me of Richard Bach’s line “Argue for your limitations and they are surely yours”.
Awesome article. 2015 looking bright already sales wise.
How true this article is. It might be a little long for those who are not really interested in learning, but that clearly doesn’t apply to you… Or does it?
souravghosh Thanks for spreading the word.
Nahason_07 Thanks for spreading the word.
This applies to creative types such as writers, musicians, artists and others as well.
It’s even WORSE in some ways if you are a creative type. Many people do not see writing, painting, acting, art, music, etc. as work. It takes immense amounts of work to master any craft.
People believe that artists, writers, musicians others should do their work for free or discounted rates.
Well, it takes a lot of work to become good at something, and you have to keep learning and practicing- just the way a business person does.
Why should someone who is genuinely good at something work for peanuts?
People don’t work a job for free, yet they believe that business people and creative types should work for free.
There is an audience somewhere that will embrace your creative work or your product or service
Amen!
“Stop talking yourself out of it” and “Only argue for the limitations you want to keep.” THANK you for an awesome Christmas present!
Wow! You hit the nail on the head every time! Thanks Randy!
Guilty as charged! Time to rework offers adding more value. Happy Holidays!
Wow! your so right. Now i need to bring this to my team. Thank you Randy Look foreword to meeting you at Master mind
Great post Randy! Thanks for this thought that will impulse us for Hollydays… Wish ya all the BEST! and a Happy New Year! Cheers & Greetings from COlombia 🙂
Randy_Gage your welcome sir
Great post Jedi Gage! Truly. The last hundred years of economics taught us that price drives demand. Now we’re learning that convenience for the customer drives it even more.
Find a frustration. Solve it. Make it simple. Make it convenient. Put a price on it. Repeat. 🙂
Boom!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Great ideas, Randy! The real limits are, and have always been, in our thinking. Thank you for sharing this.
Another super awesome lesson about abundance…let me tell you something,even the way we talk to our customers can cause a huge change…our belief in our products and services can alter their attitude n they’ll buy it no matter how expensive it is ! Massively worked for me…tnx for ur amazing article Randy.
Thanks for a very insightful and thought-provoking post, Randy?
GRACIAS POR LA SUGERENCIA RANDY
TAB_Boards Thanks for getting the word out!
Thanks Randy1
I agree, I totally agree. I believe that people will find the $ to do whatever they believe in. I get close to 95% sign up rates in my business. Why? I paint a picture of what they get for the price and they see the value. If we stop to give always for free, then they will expect “always for free”. I also have started giving back to my team that make my paycheck, instead of to those I don’t know and guess what? It continues to expand. When they see that I care, they know I am in it for the long haul…not to make a fast buck and run. Too many take the $ and leave people in the dust…so maybe that is why so many search for free, if they can get it, why not? Learn to earn it…no matter who you are and where you are, in life.
peterghorrill Thanks!
Randy_Gage You bet RG!
Thank you for this post I´’m just learning now.
Congratulations !
http://enriquemesa.com
Hello Randy
Thank you for this post, is amazing I´’m just learning now.
Congratulations !
http://www.adelgazarrapidoweb.com/salud/trabajar-en-herbalife/
This is the absolute truth, Randy!
Thanks for adding value!
ممنون رندی
فوق العاده مثل همیشه…
Superb post. Thanks rocksta!
Great post! Thanks for the reminder 🙂
Lately I understood that I argue only for the limitations my unconscious mind want to keep!
I am not arguing any more, I am just listening to my negative inner voices and to wise people and friends,
and learning the lessons.
Thank you Randy for this brilliant lesson.
سلام حالتون که عالیه
شما ایرانی هستین من اولین باره متن فارسی توی سایت رندی گیج میبینم این ایمیل منه
با هم دزازتباط باشیم خیلی خوسحال میشم
خیلی خوشحالم ازآشنایی باهاتون
شاد وثروتمند باشید
Abundance is a mindset as well, so if you think everyone is cheap, and your thoughts are also thinking cheap thoughts it goes to stand that you won’t step out of your comfort zone to create wealth and take the action steps necessary let alone have the mindset of success to draw clients. High End Clients want to know the person their hiring not only can deliver high content, high quality, however have the mindset and attitude to go with it at least that has been my experience.
Brilliant!
Great post Randy! Thanks! Everything is in our mind in bringing more value and solving people’s problems… so let’s go out there and do it! 🙂
Hello Randy
Thank you for this post, is amazing I´’m just learning now.
Congratulations !
http://peluchesgigantes.org
Hi, really intereseting article. Learning a lot. I specially like this and agree with it 100%: “Your customers are simply responding to the way you’ve trained them”, and, of course solve problems + add value. Thanks. http://www.bellefem.com/pastillas-para-adelgazar-thermofem/
Those are thought provoking words we can trust, thanks Sir Randy!
Thank you, Randy! Great insight!
Thanks Randy, you’ve helped me out more than a lot. I have to go and don’t stop, be consistent and patient. My customers and ALL my prospective customers are waiting for me to show then what I have to offer in order for them to purchase. It’s Me not my customers. Thanks a bunch!!!