Today’s fitness market is very competitive. When sales are tough to come by, sales associates will often reach for their easiest closing tool, discounts. There is no doubt that discounting product can be effective and allow sales associates to close a higher percentage of potential customers. As with most strategies, discounting is only one way of getting the customer to make a purchase. Another very effective way of closing these customers is by offering value added products to the sale. For example, you have a customer interested in a $1999 treadmill, but the customer will not buy at this price and wants a better deal. Instead of discounting the unit $50 to close the customer, consider first offering the customer a free treadmill mat which has a $50 retail value. In this scenario, the customer feels like they got a good deal. But instead of losing $50 net profit, you only lose the cost of the mat which is more like $25, and the customer also gets more than just the treadmill. This strategy works for most larger ticket sales, there are always value added complimentary products. Make sure you arm your sales associates with more tools to close deals than just discounting products.
Today’s fitness market is very competitive. When sales are tough to come by, sales associates will often reach for their easiest closing tool, discounts. There is no doubt that discounting product can be effective and allow sales associates to close a higher percentage of potential customers. As with most strategies, discounting is only one way of getting the customer to make a purchase. Another very effective way of closing these customers is by offering value added products to the sale. For example, you have a customer interested in a $1999 treadmill, but the customer will not buy at this price and wants a better deal. Instead of discounting the unit $50 to close the customer, consider first offering the customer a free treadmill mat which has a $50 retail value. In this scenario, the customer feels like they got a good deal. But instead of losing $50 net profit, you only lose the cost of the mat which is more like $25, and the customer also gets more than just the treadmill. This strategy works for most larger ticket sales, there are always value added complimentary products. Make sure you arm your sales associates with more tools to close deals than just discounting products.
