We are all familiar with the Internet Marketing millionaire success drill.
- Drive Internet traffic to your site
- Convert traffic into sales
- Crosssell and upsell complementary products
Further refinements include:
- Increase traffic
- Increase conversion rate
Sounds simple, doesn’t it?Step-by-step success should come in a month, shouldn’t it?
Then why do 90% of affiliates never make a sale (aside from perhaps buying from their own affiliate link if it’s permitted)?
Why do these 95% conversion rate items on affiliate networks like Clickbank and Commission Junction NEVER translate to a sale on YOUR site? Or maybe just one or two sales?
I was wondering the same till I analyzed my business strategy.
Here’s what my analysis showed.
It’s lies mainly in the failure of the sales technique.
There are three types of sales techniques.
A lot of people only teach two types.
In fact, the business and Internet Marketing courses will teach both types.
Shockingly, most do not teach the third sales technique.
Is it because they choose not to teach you the third sales technique?
I’d like to think they’d want to help you increase your sales.
Perhaps they’ve had the sales technique ingrained and they’ve neglected to mention this technique.
Here’re the two sales techniques that almost everyone teaches.
They work and are the foundation of many sales programs.
- Sales Technique 1: Feature/function-based selling
This sells the functions of the product or service.
It’s a ‘functional’ approach.
You buy a car, it has 4 wheel and an engine.
The car brings you from your home to your office.
You can carry groceries in the trunk of your car.
You can go on vacations, driving to distant locations in your car.
A car is great, isn’t it?
Does it work?
Sure, it does.
You buy an iPod, you can to listen to music.
You go to a restaurant, you get a steak.
You go to the theater, you watch a movie.
It’s very WYSIWYG (What you see if what you get).
Does it work in sales?
Sure, it does.
Most people sell based on this technique.
It’s the most basic sales technique and people do buy based on features and functions.
- Sales Technique 2: Benefits-based selling
This is higher up the sales chain.
You’re selling benefits, what does the product do for the client?
A car provides convenience, luxury, social status for it’s owner.
Eating at a top-rated restaurant where it’s almost impossible to get reservations MEANS you have sufficient influence and social status to get it.
Benefits-based selling means the product benefits it’s potential owner in some way.
Would you benefit from purchasing an Internet Marketing product if it meant your business would grow very large, you would have more free time, and you didn’t even have to touch your business anymore?
If you did, you’d certainly buy into the benefits-based selling model.
A comparison of features/function-based selling versus benefits-based selling
- feature-based selling is more descriptive.
You need to have an understanding of your product in order to sell it successfully.
- On the other hand, benefits-based selling requires deeper understanding of how the product can improve the quality of the customer’s life. How will the car’s 4 wheels and engine improve how the customer lives, works, plays.
How will an xbox360’s series of blinking graphics and home theater sound improve the game players leisure time?
Once these have been detailed in a clear manner and presented to the client, they’re much more likely to buy.
However, I’ve found that the most interesting and effective sales technique is the third sales technique, because it:
- engages the customer and creates a sense of ownership
- if successful, will create a compelling and unbearable urge to buy.
- Because it taps into many powerful urges and needs, it will pull at several psychological drives and create a powerful irrestible compulsion and desire.
If there is interest, the third sales technique will be covered.
Do leave a comment.