Do you want to know how to sell luxury products to an interested prospect?
Are you curious to learn what the #1 sales mistake in luxury sales is?
Perhaps you remember your first sales interview, when your interviewer asked you the intimidating question:
“Can you sell me this pen?”
The question obviously isn’t about selling a pen.
It’s about how you respond to pressure and how you architect your sale’s presentation.
A pen is a commodity product that everybody uses daily. On the other hand, luxury sales people offer products that people don’t need but want.
For this reason, let’s add a little variation to this question by adding a luxury element to it:
“Can you sell me this Mont Blanc pen?”
Here’s the thing… selling high-end luxury products requires different skills than traditional selling. And clients have higher expectations. That’s because their decisions are based on emotion and desire rather than practical needs. Selling boats, yachts or any other luxury products requires you to focus on 3 basic elements (in the following order):
1) Why they buy
2) How you sell
3) What you sell
Now, to succeed in boat sales specifically, you need to:
• Offer more perceived value for your product than the price it is worth
• Learn about your customer through observation and proper questioning
• Create the desire to purchase
• Deal positively with customer objections
• Influence your customer to desire your brand experience
• Build a relationship of trust and brand loyalty
Now, 95% of the salespeople make the same mistake: they architect their sales presentation based on the features or benefits, rather than thinking about the customer’s needs and buying motives instead.
The key is to start the selling process by answering the question: “Why will the customer buy this Mont Blanc pen from me?”
• Because buying something new will make them feel good
• Because they want to belong to the few people who own a Mont Blanc pen
• Because it will give them confidence and they will feel successful by owning this pen
• Because it will give them confidence and they will feel successful by owning this pen
• Because this pen is beautiful
• Because they appreciate products made from the finest quality
• Because it boosts their image or status to carry a Mont Blanc pen
• Because they know that the more expensive items are, the better they are
• Because they know, like and trust the person who will sell it to them
Once you know the main reasons your customer will buy, you can use influential and sales techniques to create the perfect sales interaction.
If you’re wondering, here’s an example of the perfect luxury pitch:
Interviewer: Sell me this Mont Blanc pen?
Salesperson: Hello Sir, welcome to the Mont Blanc Store, my name is Vincent and your name is?
Salesperson: Is it your first time visiting our store David?
Interviewer: Yes, it is.
Salesperson: Great David, so let me briefly explain what you can find in our store. In this section, you have the Roller Ball pens. This corner is dedicated to our ink Fountain pens. And finally, this section will feature our Ball Point pens. I will let you have a look and if you need anything let me know.
Oh, and by the way David, you have a beautiful watch! (jacket, neck tie, suit, shoes, etc… or whatever genuine compliment you can give)
After this, give the client some space for a few minutes and let them look on their own. When you notice that they keep their eyes on a particular pen that they like, start talking.
Salesperson: Great choice, this is our Ernest Hemingway model. Let’s try this pen. Please take a seat (here you’re being assertive, guiding him to try it instead of asking him and risking a no).
Take the pen delicately with a white glove. Grab a beautiful leather paper folder, open the pen and gently hand it to the client.
Salesperson: There are lots of great things that I can tell you about this pen but what is the most important aspect of a pen to you?
Interviewer: The design
Salesperson: Really! Do you mind me asking why?
Interviewer: Because I like beautiful things.
Salesperson: That’s interesting! When you say beautiful, what are you referring to?
Interviewer: I am always fascinated by the way things are designed.
Salesperson: I understand, and what is it in the style of this pen that you like the most?
Interviewer: I like the curve lines and the details on the design.
Salesperson: I see, I agree. One of the main reasons Mont Blanc writing instruments are an icon of the writing culture is because of their obsession with classic and elegant design associated with the finest craftsmanship. One of the things you will love about this pen is that it is made of deep black precious resin with gold-plated details. It is also surmounted by the white star emblem that all Mont Blanc pen owners love.
Salesperson: I am curious, do you remember the last time you used a pen?
Interviewer: The morning when I the left the house. I wrote a brief note to my wife before leaving to work.
Salesperson: I see, a personal message to your spouse. Haven’t you noticed that there is always a pen associated with all the important or meaningful moments in our lives? We use a pen when we get married when we buy our house when we get a job or write a letter or a few words to our loved ones.
I am curious to know what is your best life memory associated with a pen?
Interviewer: I think that It was when I signed my marriage certificate 3 years ago.
Salesperson: Oh congratulations, so you’ve married recently David, the same year as my wife and I. Where do you live?
Interviewer: … (Build bond with client when they share their personal story)
Salesperson: I see, great! So what else matters to you in a luxury pen after the style David?
Interviewer: The weight.
Interviewer: I like things nicely designed but they need to feel solid and durable.
Salesperson: I understand, you certainly made the right decision by choosing this particular model. Both the cap and barrel are made from the strongest resin. The clip is red gold plated with an individual serial number. And of course, you have the heavy resin tip with the inlaid Mont Blanc emblem. This pen has a weight of 38.2 grams which makes it one of the heaviest in our collection.
Salesperson: I am curious, have you ever had the privilege of owning a Mont Blanc?
Interviewer: No, I’ve never had one.
Salesperson: I see. Do you currently have a pen on you? May I see it?
Interviewer: Oh, I have an old cheap pen right now.
Salesperson: Please take it out, even if it is a disposable pen. I am always curious to see what type of pens our customers carry and sometimes it gives me an idea of the exact style of pen our clients might be looking for.
Salesperson: (Placing the customer’s pen close to the new one in order to create an anchoring effect)
Interviewer: Well, I have to say that it is truly a beautiful pen but I don’t think I need it. It might be very expensive.
Salesperson: I understand David. Our clients don’t own Mont Blanc pens because they need it, they invest in them because they are beautiful and they make them feel good.
Interviewer: How much does it cost?
Salesperson: This writing instrument comes from our finest production lines in our Hamburg factory, it has a value of 775 Euros. If you invest in it, your children are sure to enjoy it for generations to come.
Interviewer: It is too expensive. I was planning on spending 500 Euros max but not that much.
Salesperson: I understand that we might be 200 euros over what you had planned. When was the last time you made a decision of around 750 euros David?
Interviewer: I guess when I paid a bill a couple of days ago.
Salesperson: I see. Try and feel this pen again David (handing it again to the client to touch it and try it again while gently touching him on the upper arm). Imagine how good you’ll feel when enjoying this pen for many many years to come.
Interviewer: Can you do a better price than this?
Salesperson: Let me do something special. Let me offer you an extra Mont Blanc Mystery Black refill cartridge worth 36 Euros for you David.
Interviewer: Ok, at 700 Euros with the cartridge I will take it.
Salesperson: Sorry I cannot give you more money than this. You know, at Mont Blanc, we made the decision that it will be easier to explain the price one time than to apologise for the quality forever.
Interviewer: I agree but it is just too much.
Salesperson: It is too much compared to what?
Interviewer: It is too much for me for a pen.
Salesperson: I understand that an extra 75 Euros wasn’t planned for you today David but what I am offering you is not just a luxurious pen, it is a boost in self-confidence. Carrying a Mont Blanc reflects class and confidence. And what is confidence worth to you?
Interviewer: Yes, it is true, confidence is important to me.
Salesperson: So are you going to join the few people in this world who own a Mont Blanc today? How were you planning on paying David, credit card, cash, debit?
Interviewer: I usually use credit card.
Salesperson: So David, should I wrap it up for you in its beautiful leather casing with the 5 years International warranty and extra Mystery Black Ink refill? (while giving a great smile)
Interviewer: (After a long moment of silence) Ok, let’s do it.
This interview wasn’t an easy sale but the sales applicant ended up making the sale.
The key is not to sell the pen but to sell the client on the experience of owning the Mont Blanc Pen.
The sales person didn’t oversell the product. He delivered the features and benefits only when it was matching a desire from the client.
This scenario reflects a retail situation when clients are able to make a quicker decision. Buying a yacht would require more homework, a longer buying cycle and a different approach but the fundamentals should stay the same.
Now, in closing, I want to ask you to imagine how you felt when you sold your last boat or yacht…
You felt pretty good, didn’t you?
Did you feel on top of the world?
Now, how would you like to feel that experience again?
If so, that’s why I’ve put together the Sales Masterclass. It’s packed full of lessons (like the one above) that’ll show you how to sell boats, over and over, so you can experience that winning feeling, again and again.
Just click the link > Sales Masterclass <
To your success!
— Vincent Finetti
Founder & Instructor
The Yacht Sales Academy
P.S. Try a listing strategy from my FREE Listing ebook here.
P.P.S. I’m doing an exclusive virtual Listings & Sales Workshop with a small group next month to go deep in applying my best strategies to your brokerage business.
Would you like to join us? If so, go here and enter your name and email for more details!
P.P.P.S Check out my client results here.