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14 of 14 people found the following review helpful
5.0 out of 5 stars Experts in selling to the affluent offer valuable insights in working with this group
When I was young, I sold Lincoln automobiles at a local dealership. One day a weary woman walked in. She was shabby-looking, middle aged and all the male salesmen figured she was sure no prospect for our expensive cars. No one got up to wait on her. I did. Turns out she was one of the richest women in the country. She bought a Lincoln Town Car from me right off the floor...
Published on June 4, 2011 by Susanna Hutcheson

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3.0 out of 5 stars Three Stars
Much better than the previous books on selling to Wealthy people. Very good start.
Published 5 months ago by John F


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14 of 14 people found the following review helpful
5.0 out of 5 stars Experts in selling to the affluent offer valuable insights in working with this group, June 4, 2011
This review is from: Selling to The New Elite: Discover the Secret to Winning Over Your Wealthiest Prospects (Hardcover)
When I was young, I sold Lincoln automobiles at a local dealership. One day a weary woman walked in. She was shabby-looking, middle aged and all the male salesmen figured she was sure no prospect for our expensive cars. No one got up to wait on her. I did. Turns out she was one of the richest women in the country. She bought a Lincoln Town Car from me right off the floor. Moreover, she sent her son and her husband in to buy exclusively from me. I sold three cars off the floor in two days because of taking one bold step that no one else would take. That lesson is in this book.

I learned early that the affluent don't generally flaunt their wealth. They're understated. Oh, there are those who live large. But they are in the minority.

This book talks about the affluent. You'll discover who they are, how they think and live and, above all, what's important to them. As a professional copywriter, I was especially interested in the words that appeal to them and the words that turn them off. Know what? Most of the top Internet gurus use all the words that turn them off!

The bottom line is this: you need to read this book. Everyone in any business is a salesperson. It doesn't matter if you sell a product or a service. What's more, you don't make money from poor people unless you're a pawn broker or have a pay day loan shop. You make money from people who can afford your services or product.

If you position yourself as a premium provider, like I do, you must know how to deal with people who have money. There are lots of people who would love to have the services of a top copywriter. But many of them can't even come close to affording it. Just like most people can't afford six-figure automobiles.

Of course, the lessons you learn in this book easily apply to selling to anyone for the most part. But I've found that those with the least money often are the most difficult clients while those with money are great to work with. I think it's because those who have little money really don't understand how to get it. So they don't understand sales copy while the person who has money does understand it. He or she also understands quality and value. Yes, they want the best. But they gladly pay for value while those with little money don't understand or appreciate value.

I like the way the book freely discusses The Great Recession and addresses the unique place it plays in the decisions of prospective buyers and clients.

Highly recommended.

-- Susanna K. Hutcheson
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5 of 5 people found the following review helpful
4.0 out of 5 stars Selling to the New Elite: Learn something about everyone, July 29, 2011
This review is from: Selling to The New Elite: Discover the Secret to Winning Over Your Wealthiest Prospects (Hardcover)
Extremely interesting and helpful

I started reading this book out of sheer interest and interest only. Being in business to business sales of electronic components I really did not think that except for entertainment I would get anything I could use from this book. Man was I wrong!
Sure this book is all about selling to the rich, people who have at least a hundred thousand dollars a year of discretionary that's discretionary income. But I found plenty of very useful information that can apply to all forms of selling, selling to just about anyone or any entity.
I liked the idea of using the three passions to achieve sales success:
* The passion of the sales person: Sales success comes to people who have a true passion for selling, a true love for the "game of selling" They eat, drink and sleep sales, always trying to better themselves.
* The passion of the prospect: Most people who become wealthy do so because of a passion for what they do. They did not inherit their wealth they earned it. Over 90 percent of wealthy people started off in the middle class and worked their way to success. They identify with a sales person who loves what he does, a sales women who is passionate about what she does. Rich people pay for passion.
* The passion of the product: Sales people have to love what they sell. They have to be passionate about their products. They have to believe that they are selling the best product on the market. The feel that it is their privilege to be selling their product. That kind of passion comes across.
There is no doubt that this kind of passion will apply to all sales efforts. The fun part of the book is in the examples that the authors use to get their points across, stories from companies like Chanel, Microsoft, Apple and many others. This makes the book ever more enjoyable as well as informative.
Here is my favorite tip from the book; it's called be a docent for your product. The advice is "Visit your local museum. First walk around for an hour, gleaning whatever insights you can base on your own observations. Then take a docent's tour. Observe the docent's style and see how much more you learned on a guided tour. Revisit how you sell. How would a museum docent present ..What you sell? What are detail right stories of history and quality that are `must tell?'
Design a docent's tour that subtly shows off the very best of the brand you offer."
Think about that for a minute; apply it to your sales effort. That tip alone is worth the price of the book.
One more thing, the entertaining part, besides all the ideas that can be gained by reading this book there is all kinds of very interesting, I would dare say fascinating information about the rich, their economical demographics, that is just plain fun to read.
So don't let the title fool you; do not pass this one by. Selling to the New Elite is certainly worth a read.
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3 of 3 people found the following review helpful
5.0 out of 5 stars Great Insights, April 27, 2011
This review is from: Selling to The New Elite: Discover the Secret to Winning Over Your Wealthiest Prospects (Hardcover)
This book is specifically targeted to those selling to the affluent. However I found that the insights and lessons in the book can be beneficial to anyone selling any product or service.

First the authors explore many of the changes which have occurred in the behavior of the consuming public. The age of conspicuous consumption appears to be over. The affluent are still buying and their consumption was not impacted nearly as much as the less affluent. However there has been two huge shifts which sales people must be aware of: The affluent are now more focused on value. They are much more conscious of getting value for their money. They have also stopped listening to salespeople. More and more they are going to the Internet to gather information, and where possible, make their purchases. According to the authors, "Most people would rather avoid interacting with the salesperson completely."

To be successful in this new environment, the salesperson needs to fully understand the three passions for sales success: The passion of the salesperson, the passion of the prospect and the passion of the product.

For a salesperson to be successful and standout from the crowd, he/she must be passionate about what they are doing. They need to have a keen interest in human behavior and sincerely care about people. "Building relationships is the essence of successful sales."

The authors state that "most sales training efforts have been unsuccessful because they have focused on molding the individual to fit the system."

To be successful, the salesperson must be passionate about the prospect and the product. The salesperson must understand what drives the prospect - what their values are. There are a lot of myths about the new affluent which the authors show are not correct. Trying to sell without fully understanding the prospect will not work. Equally you must be passionate about the product - "its history, scarcity, craftsmanship, clientele and materials."

One insight I found particularly fascinating was the affluent can be divided into three stages depending how many years they have been affluent. The authors call the divisions: apprentices, journeymen and masters. Depending on the category a prospect falls in, there are much different ways to interact with and sell to the prospect.

The authors have drawn their insights and conclusions from surveys with over 10,000 affluent individuals over the past decade. They present many of the finding from these surveys in table format. There is a wealth of specific information presented from the surveys.

The authors then give 13 specific steps for putting the theory into actual practice. The first is to "Express your love for your job." Most people have encountered salespeople who complained about their job/company/manager, etc. It turns prospects off. Expression 8, "Understand that reliability is the New Trust." Prospects and in particular the affluent prospect place a very high value of reliability.

The other expressions are equally important - just focusing on these expressions will greatly improve your sales skills.

The final chapter of the book shows you how to go from passion to execution by giving seven principles for making things happen. The authors conclude with a parting thought which is a valuable lesson on a stand alone basis. They acknowledge that most people will read the book, agree with much of what they say yet never put the lessons into practice. Success is more about consistent hard work than it is about brilliant insights. Success is small incremental improvements which build on each other.

The book is extremely easy to read - you can fly right through it.

Highly recommended for anyone involved in selling their ideas/products or services.
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3 of 4 people found the following review helpful
5.0 out of 5 stars This book gives way more than the title suggests, March 21, 2011
This review is from: Selling to The New Elite: Discover the Secret to Winning Over Your Wealthiest Prospects (Hardcover)
The authors have been surveying the buying habits of the affluent over the last five years (10 000 interviews and counting). That would be enough to purchase this book, but these is more , much more. The first 75 pp. detail the attributes, behaviors and attitudes of successful salespeople. That is worth having for any salesperson who wishes to improve. Lots of lessons learned:

* The perception of the salesman to their role, and his/her skill set correlates 2x with success than testing attributes.
* Optimists outsell pessimists
* A passion for sales is important
* only 1 out 3 salespeople is really engaged in their work ( ie 2 of them are not good at it and they are likely calling you tonite)
* The top 5% of US sales people have annual income around $420k with liquid assets of $3M
* Facebook is like a telephone - a tool to socialize with, but seen as intrusive for marketing
* Social media can be used for listening about your clients ; A new job, new venture, job promotion, travel plans.
* Create the detail rich stories that show how you love your job, what you are selling and everything about it -show your passion.
* The affluent had an emotional recession that preceded the economic one by 18 months and they see it lasting another year more.
* You need to increase your value, not lower your price to get the deal.
* Killer words today are value, values, savings, deals and best
* A great brand promise has truth, meaning and distinctiveness

An easy read and well worth time.
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3.0 out of 5 stars Three Stars, July 12, 2014
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Much better than the previous books on selling to Wealthy people. Very good start.
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5.0 out of 5 stars things we forget, things we take for granted, energy that filled the tank!, June 3, 2013
It's easy to lose our path even forgetting why we came into this business. During this read I found many things that reminded me of how and why I'm doing what I'd do and importantly why I love it!
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5.0 out of 5 stars Valuable resource for industry professionals, July 16, 2012
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I enjoyed the authors' previous book, The New Elite, so purchased this as a companion piece. It did not disappoint. The authors provide more great research and useful marketing gems. This is an easy-to-read and helpful guide for anyone in the luxury industry.
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5.0 out of 5 stars Insightful and Practical, February 24, 2012
This review is from: Selling to The New Elite: Discover the Secret to Winning Over Your Wealthiest Prospects (Hardcover)
Selling to the New Elite is a must-read for all sales and marketing professionals. I love this book for so many reasons, but here are my top 4:

1.) It's truly quick and easy to read
2.) Great visuals throughout of tables, charts and key highlights
3.) Presents new data and insights, but more importantly suggests practical creative ways to use them
4.) Underscores the importance of using stories

Don't miss the opportunity to learn what's most important to your wealthiest prospects!
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4.0 out of 5 stars Interesting read, September 17, 2014
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This review is from: Selling to The New Elite: Discover the Secret to Winning Over Your Wealthiest Prospects (Hardcover)
It was an interesting read and well worth the time.
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