The Real Reason People Buy - Selling Simplified

Summary

In this insightful video, the speaker emphasizes the importance of understanding customer desires rather than selling what you want to sell. Drawing on personal experiences in sales, the speaker highlights how successful selling comes from uncovering the value of a product that resonates with what people genuinely want. Using examples from Steve Jobs' approach to innovation and product naming, the speaker stresses that effective sales are rooted in addressing customer needs and desires. The key takeaway is to focus on what the marketplace truly wants, shifting away from passion projects to business opportunities that meet consumer demand.

Takeaways

• 😀 Selling what the marketplace wants is more profitable than selling what you want to sell.
• 😀 You don't need to convince people to buy if they already desire the product you're offering.
• 😀 People are never wrong about what they want, even if their desire might not be the best choice for them.
• 😀 Starting a business based on personal passion may not be the best strategy; focus on what the marketplace desires.
• 😀 The thing you love should be your hobby; the thing the marketplace loves should be your business.
• 😀 Selling is about uncovering the value of your product, not convincing people to buy something they don't need.
• 😀 People buy experiences, emotions, and feelings, not just products.
• 😀 To effectively sell, understand and tap into the values and desires of your audience.
• 😀 Sales success comes from addressing what the consumer truly wants, not from pushing a product onto them.
• 😀 Life insurance is better understood as income replacement insurance, not just life insurance, to make it more relatable and appealing.

Q & A

What is the main mistake most people make in sales according to the speaker?

The main mistake is selling what you want to sell, rather than selling what the marketplace wants to buy.

What is the key to successful selling in the speaker's opinion?

Successful selling comes from uncovering the value of what you offer so well that people are happy to exchange their money for it, based on their desires.

How does the speaker view the concept of 'convincing' someone to buy something?

The speaker does not believe in convincing people to buy anything. They stress that convincing is unnecessary when you offer something people already desire.

What does the speaker suggest about starting a business?

Rather than starting a business based on a personal passion or project, the speaker suggests starting based on what the marketplace desires and is willing to buy.

How does the speaker define sales?

Sales is not about convincing people to buy something they don't want or need. It's about uncovering the value of what you offer so well that people are happy to exchange their money for it.

What example does the speaker give to illustrate the importance of understanding customer desires?

The speaker shares the example of life insurance, explaining that people don't want to buy life insurance because it involves death, but they do want financial security for their family. Therefore, life insurance should be marketed as 'income replacement insurance.'

Why does the speaker mention Steve Jobs in the context of selling?

Steve Jobs is mentioned to highlight his ability to tap into customer desires. He didn’t just sell products like MP3 players or phones; he sold experiences and emotions that customers valued, such as 'a thousand songs in your pocket' with the iPod.

What role does emotional appeal play in selling, according to the speaker?

Emotional appeal is crucial in selling. People don't just buy products; they buy the experience or emotion associated with the product. Understanding this emotional connection is key to effective selling.

What does the speaker mean by the phrase 'people are never wrong about what they want'?

The speaker suggests that people may be wrong in choosing certain products or solutions, but their desires are valid. It's the seller's job to understand and meet those desires, even if they aren't immediately obvious.

How does the speaker suggest businesses should be created?

Businesses should be created based on the needs and desires of the marketplace, not just personal passion or invention. The key is to find out what people want and provide a solution that fulfills that need.