Last Tuesday, I went on a 1/2 day cruise/Seminar!
Our Host: Scott Sorrell a.k.a. "Mr. Charge Higher Prices"
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Now, I've been to LOTS of Seminars and I was interested in learning what Scott had to say, sure. I knew that mostly, I was going for the networking.
Wow did I ever get a pleasant surprise!
I learned an amazing amount of information at this event and what's more, I'M SURE there is much more that Scott can teach me.
I'll be working Scott's services into my business as soon as I can. Yeah, it was THAT GOOD!
Here's why...
Scott used very clear stories to illustrate his points - this always helps me. Like the one about the Drill Sargent with a nearly 100% conversion ratio in his new position as a life insurance rep. He put things in terms the new recruits could understand:
'they offer two policies here, the basic one you get as a serviceman pays out $6,000 and the one you buy, pays out $250,000... who do you think they send to the front first?'
As Scott said, that Drill Sargent gave THEIR presentation.
Are you giving YOUR presentation or your CLIENTS presentation?
And if you make these strategies work when times are challenging, you will do even better when things start getting better.
If you think about it, even in the BEST of times, your client has their own 'economy' at any given moment.
Teach your clients to do what YOU are doing for them so that THEY can offer THEIR clients the same thing, and charge higher prices to improve THEIR bottom line!
Scott covered the 8 Steps of Professional Selling.
Do you know what they are? If you don't, you'd better come and hear Scott as soon as you can! If you miss any of them or get anything in the wrong order, you are shooting yourself in the foot before you even get going!
I realize that I didn't know these steps, though I did have some intuition for them, and I sure didn't know the exact order to follow or be doomed!
That alone would have been worth the whole event! Yet Scott had more for us, including a very unique 'matrix' which we are all still exploring for potential solutions. More about that in minute.
Next, Scott covered the Value Triangle. Out of the three things you can offer your clients, you get to pick two. Help your clients understand this for your business AND theirs. They are in the same situation when they approach their clients.
Scott made an excellent point regarding the inverse relationship between cost and price. I think I 'knew' that yet his explanation went into greater depths and the story about his beautiful Doberman Pinscher, Sir Winston III, illustrated beautifully the reality of how SOME cost-cutting efforts can actually give you a higher price in the end.
In fact, encourage your clients to consider you an investment! Scott's motto 'If you don't see a bump up in your sales, you don't pay' which is a beautiful way to offer your clients peace of mind when they deal with you.
Scott launched into the introduction of The Sorrell Matrix with two questions vital to answer if you are to remain in business. The first 'How can you help your customers think they need what you have?' and the second 'How can you make what you offer impossible to get elsewhere?' and proceeded to start us down the path to answering those questions.
One of the many handouts was The Sorrell Matrix which Scott covered in some detail and asked us to work on in a short session amongst ourselves.
This was probably the most powerful part of the presentation for me. I knew something about the rest of what Scott taught us and enjoyed the expansion Scott offered upon each topic. THIS however was something totally new to me.
The Sorrell Matrix helps you examine those two questions about getting your clients to understand that they need what you have to offer and that they can't get it anywhere else.
We explored the needs vs. non-essentials and the exclusive vs. non-exclusive and some of the interrelationships between them and how to approach your client with your solutions.
Emphasis? BE PREPARED!
And commit to implement one or more of these strategies/tactics.
Over and over and over again, Scott said we should know who we are dealing with and how we will approach them... and remain flexible when your conversation reveals new information.
And it goes on!
I'm looking over my notes thinking, my goodness, there's still MORE! So this is just as helpful to me in review as it is for you.
Scott recommends we FIRE 'Lowball Larry.' I can agree with. You WANT to find new, rich customers, people who LIKE paying higher prices. Yes you must deliver. It's just that price tends to equal quality for the 'Rich Reginald's' that Scott recommends you go searching for.
How?
That was the meat of the next segment. We learned about analyzing that ideal customer, and finding their clones. Are you doing that in your business? Yes? Great! No? Better let me introduce you to Scott Sorrell!
I know he can help you.
Scott covered objections, how to handle the discount hunter (that's so cool!) and getting in front of the right people to make your case (or would that be THEIR case?!? :) all in about 1/2 a day.
My notes just go on from there. This article should probably wind up though.
This was no rehash of the same old same old I've heard before at other Seminars. This was some genuinely interesting and new information!
I am seriously looking forward to working with Scott in the near future. I urge you to check out his services, have a conversation, do SOMETHING to avail yourself of his expertise. Scott Sorrell is someone you want on your team!
Thank you for reading, now go see Scott's site!
Pam Hoffman
p.s. i just checked in with Scott and it looks like he will offer another event sometime around mid May. you gotta be there! i'll be sure to write up more when i know the details so CHECK BACK sometime in April 2009. thanks, pam
some pictures from the cruise...
And some of the 'characters' on it... :)
L-R: Zen, 'Capt. Jack Sparow,' GiGi and myself!
