Imagine two automotive dealerships side by side. Imagine that one is a GM dealer and the other is a Ferrari dealer. How do you think a potential client would be treated at the Ferrari dealership if he demanded a Ferrari, but only if allowed to purchase the Ferrari at a GM price point?
Now imagine two homebuilding businesses side by side. Imagine that one is a stick builder and the other is an insulating concrete forms (ICF) home builder. How do you think a potential client would be treated at the ICF home builders business if he demanded an ICF home, but only if allowed to purchase the ICF home at the stick builder's price point?
First, it is important to understand that both auto dealerships offer automobiles that get a person from point A to point B and that both home builders offer homes that provide adequate shelter from the elements. If this is true, then on the surface, it would seem reasonable to demand that all vehicles and all homes should be similarly priced in a highly competitive marketplace. Strangely, this is not the case and it certainly is not reasonable.
Now there are at least three reasons that this comparison is not totally fair. First, while Ferraris and ICF homes actually cost more to manufacture than their counterparts, the Ferrari is more expensive to operate and maintain while an ICF home is much less expensive. Second, financial "return on investment" calculations are not performed on automobiles since resale value typically declines 60% within four years of ownership. Conversely, homes typically increase in value over any given time frame. Finally, no one honestly believes that you can purchase a Ferrari at a GM price, while the same can't be said of ICF construction versus traditionally built structures.
As ICF industry professionals, we know that we have a premium product with value beyond comparison, yet the industry seems both bashful when discussing benefits and apologetic about the value of the product when discussing price. Here are three things you can start doing today to properly "frame" your ICF business and increase your sales immediately.
First, stop comparing your product to traditional construction technologies. The Ferrari dealer would never allow his product to be compared to a GM product under any circumstances. The essence of ICF technology is superiority in every measurable category and is therefore not comparable to traditional construction technologies. By allowing the comparison of ICFs to traditional construction, we cheapen the "brand" by accepting the question as reasonable and thus opening the door to price comparisons.
Second, immediately begin to start discussing benefits instead of features. Every sales person is familiar with the phrase "sell the sizzle, not the bacon". Apply this bit of wisdom to your sales strategy today. Although a Ferrari may have an awesome sound system, leather seats and a high performance engine (the features), the true appeal is the experience of becoming a member of the elite class of Ferrari owners (the benefit). The features of ICF construction are awesome and sound wonderful, but people don't want to be sold a set of features, they like to buy benefits. Begin discussing benefits today instead of features. You will instantly create reasons for your prospects to buy ICFs and buy them from you, instead of the arduous task of selling against other technologies and other ICF industry members.
Finally, don't be afraid to discuss the premium value of ICF ownership. It is this disconnect between value and price that must be addressed and understood before the ICF industry can assume its rightful place as the technology of choice in the building industry. The best way to discuss anything with your prospects is to ask questions and give them the opportunity to provide an answer. Frame each of your questions in a manner that is consistent with the benefits of ICF technology.
Several questions you could and should ask include "Do you want a structure that can easily survive natural disasters such as hurricanes, tornadoes, fires and floods?" and "Do you require a structure that is resistant to termites and other insect infestations?" and "Are you interested in saving 70% on your utility bills while simultaneously providing the highest possible indoor air quality for your family?". If a prospect shows no interest in these benefits, then they will likely not be interested in the premium value provided by ICF technology.
Remember that not everyone can afford a Ferrari and not everyone that can afford one buys one. The real difference between a Ferrari and ICF technology is that no one can afford not to purchase ICF technology. Properly qualifying your prospects and presenting them with the benefits instead of the features will help you grow your business and your profits more quickly while helping ICF technology assume its rightful place in the building industry.
Eric Williams is the founder of the Get Ready to Win Network. Contact Eric at 928-255-5379 or at ericw01@yahoo.com. For additional information, click on this link: http://ericwilliams.48dayscoach.com
Article Source: http://EzineArticles.com/?expert=Eric_Williams
Now imagine two homebuilding businesses side by side. Imagine that one is a stick builder and the other is an insulating concrete forms (ICF) home builder. How do you think a potential client would be treated at the ICF home builders business if he demanded an ICF home, but only if allowed to purchase the ICF home at the stick builder's price point?
First, it is important to understand that both auto dealerships offer automobiles that get a person from point A to point B and that both home builders offer homes that provide adequate shelter from the elements. If this is true, then on the surface, it would seem reasonable to demand that all vehicles and all homes should be similarly priced in a highly competitive marketplace. Strangely, this is not the case and it certainly is not reasonable.
Now there are at least three reasons that this comparison is not totally fair. First, while Ferraris and ICF homes actually cost more to manufacture than their counterparts, the Ferrari is more expensive to operate and maintain while an ICF home is much less expensive. Second, financial "return on investment" calculations are not performed on automobiles since resale value typically declines 60% within four years of ownership. Conversely, homes typically increase in value over any given time frame. Finally, no one honestly believes that you can purchase a Ferrari at a GM price, while the same can't be said of ICF construction versus traditionally built structures.
As ICF industry professionals, we know that we have a premium product with value beyond comparison, yet the industry seems both bashful when discussing benefits and apologetic about the value of the product when discussing price. Here are three things you can start doing today to properly "frame" your ICF business and increase your sales immediately.
First, stop comparing your product to traditional construction technologies. The Ferrari dealer would never allow his product to be compared to a GM product under any circumstances. The essence of ICF technology is superiority in every measurable category and is therefore not comparable to traditional construction technologies. By allowing the comparison of ICFs to traditional construction, we cheapen the "brand" by accepting the question as reasonable and thus opening the door to price comparisons.
Second, immediately begin to start discussing benefits instead of features. Every sales person is familiar with the phrase "sell the sizzle, not the bacon". Apply this bit of wisdom to your sales strategy today. Although a Ferrari may have an awesome sound system, leather seats and a high performance engine (the features), the true appeal is the experience of becoming a member of the elite class of Ferrari owners (the benefit). The features of ICF construction are awesome and sound wonderful, but people don't want to be sold a set of features, they like to buy benefits. Begin discussing benefits today instead of features. You will instantly create reasons for your prospects to buy ICFs and buy them from you, instead of the arduous task of selling against other technologies and other ICF industry members.
Finally, don't be afraid to discuss the premium value of ICF ownership. It is this disconnect between value and price that must be addressed and understood before the ICF industry can assume its rightful place as the technology of choice in the building industry. The best way to discuss anything with your prospects is to ask questions and give them the opportunity to provide an answer. Frame each of your questions in a manner that is consistent with the benefits of ICF technology.
Several questions you could and should ask include "Do you want a structure that can easily survive natural disasters such as hurricanes, tornadoes, fires and floods?" and "Do you require a structure that is resistant to termites and other insect infestations?" and "Are you interested in saving 70% on your utility bills while simultaneously providing the highest possible indoor air quality for your family?". If a prospect shows no interest in these benefits, then they will likely not be interested in the premium value provided by ICF technology.
Remember that not everyone can afford a Ferrari and not everyone that can afford one buys one. The real difference between a Ferrari and ICF technology is that no one can afford not to purchase ICF technology. Properly qualifying your prospects and presenting them with the benefits instead of the features will help you grow your business and your profits more quickly while helping ICF technology assume its rightful place in the building industry.
Eric Williams is the founder of the Get Ready to Win Network. Contact Eric at 928-255-5379 or at ericw01@yahoo.com. For additional information, click on this link: http://ericwilliams.48dayscoach.com
Article Source: http://EzineArticles.com/?expert=Eric_Williams
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