A Sales approach for Time - Rich/Poor and Money - Rich/Poor people.

December 21st, 2018   By Manoj Naudiyal

I have been meeting a lot of people these days for my product sales, and with people’s variant interest level, few turning in favour and few against, I got an interesting insight which I felt worth sharing.

If your product or service yields ‘Time Saving’ as one of the benefits, I would suggest you to try below method for better sales results –

1. Create 4 quadrants as Q1, Q2, Q3 and Q4 with Time and Money as two axes. As shown in above diagram.
2. Identify a quadrant for your potential customer.
3. If your customer falls into –

• Quadrant 4 [Time-Poor, Money-Rich]: Conversion chances are bright. You should be ready with your well rehearsed pitch highlighting all your unique and premium features. After all these are the ideal set of people for whom you have designed your solution. If you could manage your product presentation well, they will be easy one to grab.

• Quadrant 3 [Time-Poor, Money-Poor]: Conversion chances are fair. These people will appreciate your offerings but they might not have enough money to buy your product/service. Demonstrate that your solution has higher ROI for them, they will engage.

• Quadrant 2 [Time-Rich, Money-Poor]: Conversion chances are fair. If people are poor and claim to have plenty of time, they probably don’t understand the value of time. Explain them the worth of time and make them understand how they can really move towards right quadrants and be wealthy if being better organized.

• Quadrant 1 [Time-Rich, Money-Rich]: Conversion chances are slim. These set of people have the luxury of both time and money. They are either going to be children/dependent of wealthy people or retired pensioners with filthy rich bank account. For a working society, Time-Rich luxury is a rare phenomenon. Considering above all it might not be an ideal quadrant for your pitch.

Needless to say that we should align our sales effort by targeting people in the order of Q4, then Q3/Q2 and then Q1. I have been using this formula in my sales approach and have seen improvement in conversion rate. If it fits in your line of business, please give a try and do let me know if it worked for you.

Thank you very much for reading!!

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