Do you run or sell for a luxury business? Visit: www.andretaylor.com.
About This Video:
The Secret to Selling Luxury
by Andre Taylor
If you run, or sell for a luxury business, or one that is high-end, I want to share a few thoughts with you about about selling luxury, right now. Let's talk about three Secrets to Selling Luxury and what's different today.
1. People and Process.
The greatest barrier to effectively selling luxury is inside the mind of the person selling. Do they have ambition? Do they have a vision for the business or the territory? Do they have the poise? Do they have product knowledge? Do they have selling skills? Do they have drive and commitment? Do they have doubts? Do they have follow-up skills? Can they deal with rejection and bounce back and bounce forward? Can they be consistent day-after-day? The primary barrier to selling luxury is in these questions.
You must have a process -- you cannot wing it, and you must have people that follow a process
and you must adequately train, re-train, drill, support, and keep engaged your people in order
for the process to fulfill its potential. You also cannot be in denial about what's needed. Some luxury business owners for example, think selling means talking to who shows up. They believe they know what to say, and in fact, have no process.
In luxury there's sometimes this feeling that a magnificent product will do the work. No,
you must do the work, and your sales success is based on being proactive, professional,
and persistent -- but if you're not looking at these things constantly, you will not sell luxury today.
2. "The Big Re-Assessment."
Every seven years or so, there's a substantive shift in most industries that's driven by
changes in people and the major players, changes in customs and habits, significant changes in
style, approach, technology, and so forth. However, Covid-19 accelerated and intensified this
process and created what I would call a period of re-assessment on a massive scale.
The Big Assessment means because of Covid-19 everyone has had time to look at their lives and businesses and ask themselves, "What do I want? Am I happy? Who do I want to be? Most of the attention out there is the negative side of this, but this is an example of ne opportunities for your business. You must ask this question of yourself, the people that work for you, and your clients. On the client side, getting away from simply trying to push a product to tapping into their uncovered needs will help you move into that trusted advisor category.
3. Understand What You Are Selling.
I find luxury sellers often do not understand or forget what they're really selling. Today,
having this understanding is more important than ever? Are you selling beautiful furnishings?
an elegant home? a trendy hairstyle? How about a sleek electric car? Well, the deliverable may be manifest in these things, but what you're really selling is happiness.
You must get to the gap that you fill with your product or service, and make sure
you are always selling that -- and not merely the thing you sell.
Visit andretaylor.com where you can learn more about how I can help you identify, attract, service, and keep affluent and wealthy clients.
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I've been in business for more than 35 years, and for more than two decades I've advised top brands around the world, on being the best.
My insights are from high-results experience in marketing, media, and management consulting and clients in dozens of industries. I’ve authored a half-dozen books, a long list of audiobooks, videos, e-learning programs, articles, and blog posts, I often appear as a guest expert on television, radio, and podcasts, and have won numerous awards throughout my career. My experience includes:
Revenue generation and growth for countless world class and entrepreneurial brands
The first mobile information service targeting High Net-Worth Individuals
The first digital network for sports, entertainment, and hospitality arenas
The first affinity and membership programs for media brands
The most widely adopted methodology for Luxury Selling
My work such as the 21 Essentials of Selling Luxury has garnered a stellar reputation among luxury, and bespoke brands. I offer Luxury Lifestyle Advisor Certification training, an 8-week intensive learning, mentoring, consulting and community program, to help those in luxury grow high-end enterprises with cutting-edge strategies.
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