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Jeff Giagnocavo: Raise Your Prices 5x & Close 70% of Clients On the First Visit

Author

Wes Schaeffer
September 08, 2014

About Today’s Guest on The Sales Podcast

In 2002, Jeff Giagnocavo was was the youngest / fastest-to-management salesperson in building material but he wanted more.

He saw a small ad for a salesperson in the furniture/mattress industry with his now-business partner so he made a switch. In 2009 he got involved in the direct response marketing world and that lead him to this podcast interview!

Rubber-Meets-The-Road Sales Tip

  • Jeff Giagnocavo was a wholesaler selling to retailers and thought his retailers needed to know about direct response marketing but they put up barriers. “My business is different.”

  • Jeff was inviting his retailers to marketing meetings, etc. and Ben at Gardner Mattress & More saw that and it was instrumental in his being invited to become a partner.

  • Gardner was a customer of his for years and approached him to become a partner in their business.

Your business is different? No it’s not.”

  • Because of direct response marketing and tightly-scripted sales interactions, their average ticket is 5x that of the industry.

    • 70% close rate on the first visit and getting 40% of the 30% to buy on the second visit.

    • To raise your prices make sure you have a solid process and can answer who you are and what your value is.

    • He has a solid opening “right from go.”

    • From there, the in-store, in-person visit must be right. What they say and how they say it.

    • Then they have to deliver a solid product.

    • They have a unique sales choreography.

    • It took over a year to incorporate the sales choreography. It took some buy-in.

    • Allow your staff to inject their personality into the 27-point presentation.

    • We all use scripts every day in everything we do, including shaking someone’s hand as we walk into a business meeting.

We all use scripts every day in everything we do.”

  • They have a customer lounge and don’t let people just jump on beds. Their initial greeting is a script.

  • About 8 out of 10 are open to having a conversation first. The other 2 realize there are 73 beds and after looking around they open up to answering some questions.

  • He’s very big on lead generation. Most focus on those looking to buy a bed today. He addresses those that wake up late with a sore back and he directs them to get a free guide, “What’s Keeping You Awake At Night” so they are priming the pump.

  • 27 different “out of place” ads such as places as home show expos, chiropractor sections in the yellow pages. (Still got a 7:1 ROI in the Yellow Book with an 800 number vs a local number.)

  • TV Guide ads – three ways to respond. Get phone, web opt-in and mail the coupon.

Run “out-of-place” ads and see what works.” (He’s running 27 currently.)

  • His main prospect is the Baby Boomer to senior citizen so he runs ads that attract them: Charlotte, Lynn, Valorie and Lauralie

  • The four main personas really identified themselves. All but one are Baby Boomers.

  • Interviewed past clients. They just asked them. It helps when you sell good stuff and deliver a great experience. If you’re afraid to this, that is telling in and of itself.

  • Some came to the store. Some met for coffee. Some met for lunch.

  • Their 27-point “Sleep Assessment” is the script behind the scenes. It was 30 for a while but some were redundant and was streamlined.

  • They recognized they have to be different and have a different process to separate themselves from their competition.

  • Now they are on a clipboard.

  • He and Ben are on the floor about 10% of the time and they are working on the business 90% of the time.

Have personas for your business and sell to those personas the way they want to buy.”

  • Sales structure and sales process is the key to success. “If you’re ready to accept a paycheck from me every two weeks that is loose and off the cuff, I’ll let you sell that way.”

  • In three years they’ve hired 6 sales people and none have left.

  • You need a system to manage your prospects, clients and leads. It’s expensive to have things fall through the cracks. You really need this if you sell an intangible offering.

  • Lead generation from an advertising standpoint is the biggest thing you can do.

  • To learn good lead generation you need to get a coach/mentor, do home study courses, etc. You have to jump in and start learning and doing.

  • Know your customers, how they process information, what it takes to get them to come in and make the sale.

  • Jeff has invested at least $200,000 in the last 5-6 years in sales and marketing training and it has paid off.

  • Always invest in yourself to grow.

  • The first product Jeff bought was $1,200. It was a little iffy. He was a little scared. But ask yourself “is this thing I’m investing in going to pay off the fastest for me?”

  • Implement. All of the ideas in the world are worth nothing if you don’t implement. Do the work. Do the modules. Pick one part of even the biggest program and implement it.

  • The compounding effects are worth it.

Always invest in yourself to grow.”

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