Six years ago I was selling supplements at my gym and I ran out of inventory on a few key products.
I still had about 20 more consults left that day. And - I still needed to make money.
Result: I ended up selling more than I did when I was fully stocked & learned key lessonā¦
I still had about 20 more consults left that day. And - I still needed to make money.
Result: I ended up selling more than I did when I was fully stocked & learned key lessonā¦
Hereās what happened:
After running out, people kept asking about products we had sold out of.
Their friends had bought them.
They wanted them too. But it would take too long to restock. So I couldnāt provide them. I tried to unsell them on why they needed them.
Awkward.
After running out, people kept asking about products we had sold out of.
Their friends had bought them.
They wanted them too. But it would take too long to restock. So I couldnāt provide them. I tried to unsell them on why they needed them.
Awkward.
After a few less than ideal exchanges, I switched up my approach.
Now, before I got into explaining the products on our menu, I changed one thingā¦
This time: I told them not to buy the products (we were out of) from us.
Now, before I got into explaining the products on our menu, I changed one thingā¦
This time: I told them not to buy the products (we were out of) from us.
I said āhey, before we get going. You can probably pick up an equivalent product from Costco for about half the price weāre selling it. It wonāt be as good. But itāll still get the job done. So you can go ahead and cross that item offā
Andā¦
Andā¦
āā¦This one you also donāt need given your current level. Itāll be important later but you can just cross that off the list. So that should save you some money. Cross that off too.ā
Then
āā¦Ok, now I need you to get 1 of these, hereās how youāre gonna take itā¦2 of theseā¦etcā
Then
āā¦Ok, now I need you to get 1 of these, hereās how youāre gonna take itā¦2 of theseā¦etcā
And hereās what happenedā¦
I ended up selling MORE overall.
My close rates went up to nearly 100%.
I sold more telling them what they didnāt need to buy.
THEN telling them what they needed.
It was wild.
I sold more than when I hadnāt run out.
I ended up selling MORE overall.
My close rates went up to nearly 100%.
I sold more telling them what they didnāt need to buy.
THEN telling them what they needed.
It was wild.
I sold more than when I hadnāt run out.
I trained my teams on this āmethodā and we started calling the products we wouldnāt sell: āsacrificial lambsā
Basically products that you purposely sacrifice to sell more of others.
Using this method, I sold more of my other products and more overall.
Basically products that you purposely sacrifice to sell more of others.
Using this method, I sold more of my other products and more overall.
I eventually stopped carrying the āsacrificialā inventory altogether.
But they always remained on the menu as a way for us to gain trust.
But they always remained on the menu as a way for us to gain trust.
And that was because people saw us as caring for two things:
1) Saving them money by recommending other stores that carried products for less
2) Not pushing things they werenāt ready for
After all, you SHOULD be selling from a place of their best interest and their trust.
1) Saving them money by recommending other stores that carried products for less
2) Not pushing things they werenāt ready for
After all, you SHOULD be selling from a place of their best interest and their trust.
And it gave us more clients, who bought the things we really did want them to take, all while being more trusting of our intentions.
I stumbled into this method by accident.
Use it for good.
I stumbled into this method by accident.
Use it for good.
PS - And if you feel weird about āunsellingā nonexistent inventory to sell more other SKUs, feel free to carry stuff that you never sell.
Telling people not to buy ended up resulting in more sales overall.
It was an interesting study in human psychology.
I hope it serves you.
Telling people not to buy ended up resulting in more sales overall.
It was an interesting study in human psychology.
I hope it serves you.
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