Selling to The New Elite : Discover the Secret to Winning Over Your Wealthiest Prospects

Based on unprecedented research, "The New Elite" took a behind-the-scenes look at America's most powerful and influential class what motivates them, how they think, where they shop, and how they really spend their money. In this practical and fascinating follow up, the authors reveal how salespeople and marketers can hone in on this wealthy class, pique their interest, and convert them into loyal customers. Presenting the best practices behind hundreds of mutually satisfying interactions between salespeople and buyers based on studies of elite companies such as Lexus, Chanel, Neiman Marcus, Four Seasons, Cartier, and, Louis Vuitton, "Selling to the New Elite" reveals what the truly rich want from brands, what they expect from the marketplace, and how the Great Recession has reshaped their purchasing patterns. Loaded with insight and indispensable techniques, this one-of-a-kind guide shows readers everywhere how they can win over the wealthiest customers and become rich themselves. Contents......Page 8 List of Figures......Page 12 List of Tables......Page 14 Acknowledgments......Page 16 Introduction......Page 20 CHAPTER ONE: The Desire to Acquire......Page 24 The Essence of Selling: Channeling vs. Creating the Desire to Acquire......Page 31 The Desire to Acquire . . . Something Nice......Page 36 So What’s the Problem? The Biggest Challenge in Sales Today......Page 43 Using the Three Passions to Achieve Sales Success......Page 46 CHAPTER TWO: The Passion of the Salesperson......Page 50 A Passion for Sales......Page 53 Case Study: Top Sales Performers on Fifth Avenue......Page 56 Case Study: Top Sales Performers in a Dallas Luxury Auto Dealership......Page 59 A Passion for Relationships......Page 60 The Long History of Passion-Based Selling......Page 62 Lifestyles of Successful Salespeople......Page 76 Discover Your Passion and Mold Your Environment......Page 80 The Next Step......Page 90 CHAPTER THREE: The Passion of the Prospect......Page 92 The Biggest Myth About the Affluent......Page 98 The Passion for Family and the “We Need” Economy......Page 104 Money, Culture, and the Niche Passions......Page 110 The Arc of Maturation and the Evolution of Passions......Page 114 The Arc of Maturation and Selling Financial Services......Page 125 Passion as the Missing Ingredient in Sales......Page 127 Summing Up......Page 131 The Next Step......Page 135 CHAPTER FOUR: The Passion of the Product......Page 136 Discovering the Essence of Luxury......Page 140 The Five Dimensions of Transcendence......Page 143 The Topography of Excellence......Page 150 Reports of Luxury’s Death Are Greatly Exaggerated......Page 152 The Next Step......Page 155 CHAPTER FIVE: Theory into Practice: Thirteen Expressions of Passion in Selling......Page 156 1. Express the Love of Your Job......Page 160 2. Tell Detail-Rich Stories......Page 164 3. Discover a Shared Pursuit......Page 168 4. Give the Docent’s Tour......Page 171 5. Understand Their Ultimate Passion: Family......Page 177 6. Satisfy the Passion du Jour: Value......Page 181 7. Use the Language of Passion......Page 186 8. Understand That Reliability Is “The New Trust”......Page 189 9. Create a Ritual of Celebration......Page 191 10. Communicate a Compelling Brand Promise......Page 192 11. Hone a Compelling Elevator Pitch......Page 195 12. Ask Passion-Based Questions......Page 197 13. Sell to Happiness......Page 199 The Next Step......Page 201 CHAPTER SIX: From Passion to Execution......Page 202 Why Most Sales Programs Fail......Page 207 Compare Weight Loss to Sales Performance......Page 209 Seven Principles for Making It Happen......Page 211 A Final Thought......Page 217 APPENDIX: Our Methodologies for Studying the Affluent and Wealthy......Page 220 The Survey of Affluence and Wealth in America......Page 223 Optimism Continues Its Cautious Return......Page 233 A Fragile Optimism, Weakened by Stock Market Concerns......Page 236 Spending Cutbacks Still Prevalent......Page 239 Finding Strength and Happiness Amid Economic Uncertainty......Page 243 Key Take-Aways and the Outlook for the Future......Page 245 The Survey of Affluent Attitudes Toward Salespeople......Page 247 The Survey of American Attitudes Toward the Wealthy......Page 248 Notes......Page 250 A......Page 258 C......Page 259 D......Page 260 G......Page 261 L......Page 262 N......Page 263 R......Page 264 S......Page 265 V......Page 266 Y......Page 267 About the Authors......Page 268 If You Think The Only Thing Unique Bout Selling To The Affluent Is A Higher Price Point, Think Again. In Fact, What You Think You Know About Who The Wealthy Are-what Motivates Them, How They Think, Where The Shop, And How They Spend Their Money-may Be Equally Inaccurate. What Do The Words Luxury And Quality Mean To Your Wealthiest Prospects? How Has The Great Recession Affected Their Spending Tendencies And Brand Preferences? And How Can You-as A Sales Professional Or Marketing Executive-sell To Them Most Effectively? Based On Unprecedented Research, The New Elite Shattered Common Misconceptions About The Rich And Their Relationship With Money. Now, In This Indispensable Follow-up, You'll Discover How You Can Hone In On His Wealthy Class, Pique Their Interest, And Convert Them Into Loyal Customer. The Authors Of Selling To The New Elite Have Studied The Best Practices Of Top Performers, As Well As Analyzed Hundreds Of The Most Mutually Satisfying Interactions Between Salespeople And Customers. Loaded With Insight And Indispensable Techniques, This One-of-a-kind Guide Shows You How To Win Over The Wealthiest Customers ... And Become Successful Yourself. --book Jacket. The Desire To Acquire -- The Passion Of The Salesperson -- The Passion Of The Prospect -- The Passion Of The Product -- Theory Into Practice : Thirteen Expressions Of Passion In Selling -- From Passion To Execution. Jim Taylor, Stephen Kraus, And Doug Harrison. Includes Bibliographical References And Index. In this practical and fascinating follow-up to their behind-the-scenes look at America's most powerful and influential class, authors Jim Taylor, Stephen Kraus, and Doug Harrison reveal insights and indispensable techniques to help salespeople and marketers hone in on wealthy customers, pique their interest, and earn their trust--and repeated business. The New Elite leveraged unprecedented research to reveal what motivates the wealthy class, how they think, where they shop, and how they really spend their money. Now, based on studies of elite companies such as Lexus, Chanel, Neiman Marcus, Four Seasons, Cartier, and Louis Vuitton, Selling to the New Elite explains what the truly rich want from brands, what they expect from the marketplace, and how their changing purchasing patterns could mean big business for you. Including eye-opening stories from mutually satisfying interactions between salespeople and affluent buyers, the book showcases the best practices that have led to hundreds of successful sales and incorporates exercises that allow you to apply the information in your own context. By helping readers win over the wealthiest customers, this one-of-a-kind guide offers the key to becoming rich yourself. Reveals how salespeople and marketers can hone in on the wealthy class, pique their interest, and convert them into loyal customers. Presenting the best practices behind hundreds of mutually satisfying interactions between salespeople and buyers, this book also reveals what the truly rich want from brands and what they expect from the marketplace.