Last night, a pressure-filled sales pitch almost left me the proud owner of a vacation time-share. I admit, I'm a sucker for a prize and I went to this appointment for just that. In this case? A digital camera. I was fully prepared to politely decline anything being sold. However, this was different. These people were unrelenting. They pulled out all stops and came at me full force. The sales pitch left me exhausted and, of course, thinking. If someone didn't know what I know, would they have given in and walked out $40,000 in debt? Just in case, I thought I'd pass along some tips to survive the utmost pressure filled sales pitch:
*Be more than prepared to say no: have some really good reasons and be firm. Repeat them.
*Confirm the company is legitimate: How long have they been in business, etc.?
*Ask about a refund policy: Can you get your money back if product/service is not what they promised?
*Ask for 24 hours to "sleep on it"- If someone can't give time, you probably shouldn't give money.
Look, it was tough. I advocate having a mind of your own and having spending priorities and I almost got sold. I'm certain if it can happen to me, it could happen to anyone. Surviving pressure filled sales pitches comes back to the vision you have for your money: Remember you're the only one who can get you where you want to go- every company in the world wants a piece of your hard-earned money. You're the only one who determines what's worthy of your social security number, signature and your hard-earned money.
I work in an evironment that employs what are commonly believed to be "high-pressure" sales practices. The product is nothing as extraneous as a time-share though. We provide extended warranties for new and used automobiles. Mostly our sales are high-pressured because it a very high consumer fraud industry. It is tempting for anyone to want to replace an engine by purchasing a warranty for $2000 (usually with only a low down payment required) instead of paying a mechanic close to $3000 which will be expected up front. Also, enough numbers have been crunched to show that if a potential client gets off the phone with us before agreeing to purchase our warranty they either go with someone else or they don't get one at all over 90% of the time. From a business standpoint, it makes sense to exhaust every opportunity before conceding a lost customer. I have done enough research to know that our warranties are not the cheapest you can find, but cheaper is not always better. The internet is chock full of tales of warranty woe engendered by start-up companies working out of garages and small leased storefronts, charging dirt-cheap prices for useless service contract. The warranties they provide are only good until you need a repair. And then good luck trying to get a refund once you're left holding the bag. I am proud to work for a company whose product does what it says it does, and I am not above trying to use whatever means necessary to convey and impress that on potential clients when I speak with them. Because of consumer fraud I cannot take a risk by offering coverage to someone who has already refused once. In order to protect my company and my prospective clients I must try to secure a commitment on the initial phone-call. And if I do, then I have protected my company from probable consumer fraud and I have prevented my client from being taken by a "cheaper" warranty.
It's harldy a perfect system, but given the nature of the industry it is the best one I can find. I am not above giving people an adequate amount of time for legitimate reasons, but I won't get off the phone until I have at least secured permission to call back at a specified time to allow a client to address whatever concerns they may have.
Ultimately I am a salesman. That means selling, and a big part of that is convincing. We convince with words and we convince with psychology as do all who hold convictions. I believe in extended warranties and that helps. I believe there is a need for them and that most people can be shown that if they allow me a chance to explain, or if they ask the right questions. And I don't hang up until a client understands exactly what has been purchased.
I could go on, but at this point it might be confused for rambling. I ask myself a question every day before I go to work. When is my client, my potential customer, going to feel the most pressured? Will it be when he or she is talking to me on the phone or when his or her vehicle is broken down, at the mercy of a dealership that makes over 75% of its revenue from the service department?
Posted by: danny | November 03, 2005 at 07:27 AM