If you've been to my sales classes, or read through a few of my books, you already know that there aren't any "secrets" or "shortcuts" to selling success. There just aren't any hidden ways to suddenly and dramatically increase your income overnight...
Except when there are.
Every once in a while I come across some product or service that I can say qualifies as a "sales commission multiplier." That's just a fancy way of saying that it's something small you can use to make a big difference in your production.
The key to understanding the sales, and why they're so important, is in the word "small." Normally, these aren't the products you call prospects endlessly about, or even the ones they spend time agonizing over as a main purchase or investment. In fact, they are often "add-ons" that come at the end of the sale, almost like an afterthought.
Sales commission multipliers are almost like a secret backdoor to sales income. Here are the three steps to using them effectively:
Look for the right opportunities.
Service plans, premium upgrades, and small accessories are the usual suspects here. Not only do they add very little to the final cost of a product, but the profit margins on these items is typically very small. What's more, they can usually be sold again and again, because they expire or run out.
Search your business for those high-profit, low-stress items or plans that customers can easily be persuaded to invest in. Now, figure out how much more you would be earning if you added these to more than three-quarters of your new accounts. If the number that comes up is pleasantly eye-popping, then you probably found the right sales commission multiplier.
Perfect your presentation.
It's not enough to ask clients if they would like to "add something onto their order." Instead, become a master of explaining the benefits of this particular product; tell buyers how it's going to help them improve the life of their purchase, make it more useful, or otherwise enrich their lives. Then, remind them that it's only a small addition in cost. Since they've already made the decision to buy, you shouldn't have a hard time persuading them to go just a little bit further.
See the big picture.
You aren't likely to get rich selling one or two of these products or plans, but that's the beauty of it - seeing how they add up over time, and in your bank account, is where the real work comes in. I know of salespeople who added tens of thousands of dollars per year by exclusively working with "add-ons." Even if you only do a tenth as well, isn't that worth it for a few minutes of work at the end of each sale?
Finding sales commission multipliers might not be a secret that revolutionizes the way you approach selling, but it is a good way to take a small technique and turn it into a whole lot of cash.
