“Sell Me This Pen…”

Summary

• In a transactional sale, I focus on matching the customer to the product.
• If I sell pens, I listen to what they need and show how the pen meets those needs.
• Sometimes, I might need to educate the customer to show how the pen solves their problems.
• The advantage of this type of sale is it's fast and typically involves lower-cost items.
• Operationally, the business doesn’t need to personalize anything, making it more streamlined.

Video

How To Take Action

Strategies for Implementing Sales Insights

I would suggest implementing these strategies to boost your small business, entrepreneurial venture, or personal growth:

1. Fit the Customer to the Product:

• A simple way to start is by talking to your customers. Ask them what they need.
• Listen carefully and match their needs to your product. If you sell pens, ask them if they need it for writing, drawing, or taking notes.
• Quickly show them how your pen meets those exact needs.

2. Educate When Necessary:

• Sometimes customers may not realize what they truly need.
• Take a moment to educate them. Explain how your pen is great for calligraphy or why it’s perfect for smooth writing.
• This builds trust and often leads to quick sales.

3. Focus on Speed and Efficiency:

• Transactional sales should be fast. Keep your sales pitch short and to the point.
• High-speed transactions mean you can sell more in less time, increasing your revenue.

4. Keep Costs Low:

• Focus on low-cost items that have a broad appeal. Pens are a great example because they are inexpensive but needed by everyone.
• Avoid spending money on personalizing the offering. Standard products can serve many customers well.

5. Streamline Operations:

• Use the basic product for all customers to keep operations simple.
• No need to personalize items means you save on production costs and time.

By following these strategies, you can efficiently boost your sales, keep costs low, and address customer needs effectively.

Full Transcript

in a transactional sale you typically fit the customer to the product and so let's say that I sell pens I'm going to basically spend all my effort listening to what they say they want and then telling them how this pen fits their needs or I have to basically say your needs are wrong let me educate you more and this actually solves all your problems now the advantages of having this type of sale is that it's really fast uh they tend to be lower ticket in general and from an operational perspective in the business you don't need to personalize anything