Matt Oechsli - The Art of Selling to the Affluent

Contents

Praise for The Art of Selling to the Affluent

Shockingly professionals are still following the advice of the sales gurus of yesteryear who preached the importance of asking for referrals. Yet, when is the last time anyone responded to this question by immediately jotting down the name, number, and e-mail address of a good friend or family member? Matt Oechsli has tapped into the mindset of the affluent, helping marketers and sales professionals understand the far more subtle techniques that build long-term loyal clients who happily referwithout being asked. The Art of Selling to the Affluent, Second Edition is an easy read with actionable takeaways. It cements the fact that relationship management strategies, combining business and social interactions, are the secret to an endless source of introductions.

Susan Theder, Chief Marketing Officer, Cetera Financial Group

As a former sales trainer of a Fortune 500 company and currently the president of a company that consults with firms who are attempting to sell their services to the government, it is rare that I read a book on sales that tells me anything I dont already know. The Art of Selling to the Affluent, Second Edition is a definite exception of the rule. Matt Oechsli not only understands sales at a granular level, hes done his homework on the affluent consumer. This book will become a core part of every sales training curriculum that is targeting the affluent.

David Claiborne, President, Winning Proposals

Love, love, love this book! Thank you Matt, you did it again. Relevant, insightful, practical ways to fine tune our practice to best serve todays affluent client.

Jo-Ann Sloan, Managing Broker, Premier Sothebys International Realty and National Real Estate Sales Trainer

Wow, did I just learn a serious lesson: the importance of getting personal with affluent clients and prospectseven in the IT world. We produce and sell a product that is both highly technical and sophisticated in a very competitive fieldand we landed one of our largest clients by following the principles Matt has outlined in this book. The Art of Selling to the Affluent, Second Edition is required reading for my entire sales team.

Dan Vena, National Sales Manager, Claysys Technical Solutions

Matt Oechsli does it again! With the Great Recession creating a new normal, nothing is more important than staying current with how people with wealth make major purchasing decisions. The fact that everything contained in these chapters is based on current research sets this book apart. Like Oechslis previous book, this is a must read for anyone attempting to sell anything to todays affluent consumer.

Rich Santos, Group Publisher, Wealthmanagement.com , the digital resource for REP. and Trusts and Estates

Matt Oechsli delivers strategic and tactical tools throughout this book that will enable those who compete in the affluent/high net-worth space to participate with an edge.

Tim McKinney, VP ADT Security Services, Custom Home

Cover image: Thomas Northcut/Jupiter Images (hand); Tetra Images/Jupiter Images (background)

Cover design: Michael J. Freeland

Copyright 2014 by Matthew Oechsli. All rights reserved.

Published by John Wiley & Sons, Inc., Hoboken, New Jersey.

Published simultaneously in Canada.

No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, 222 Rosewood Drive, Danvers, MA 01923, (978) 7508400, fax (978) 6468600, or on the web at www.copyright.com . Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 7486011, fax (201) 7486008, or online at www.wiley.com/go/permissions .

Limit of Liability/Disclaimer of Warranty: While the publisher and author have used their best efforts in preparing this book, they make no representations or warranties with the respect to the accuracy or completeness of the contents of this book and specifically disclaim any implied warranties of merchantability or fitness for a particular purpose. No warranty may be created or extended by sales representatives or written sales materials. The advice and strategies contained herein may not be suitable for your situation. You should consult with a professional where appropriate. Neither the publisher nor the author shall be liable for damages arising herefrom.

For general information about our other products and services, please contact our Customer Care Department within the United States at (800) 7622974, outside the United States at (317) 5723993 or fax (317) 5724002.

Wiley publishes in a variety of print and electronic formats and by print-on-demand. Some material included with standard print versions of this book may not be included in e-books or in print-on-demand. If this book refers to media such as a CD or DVD that is not included in the version you purchased, you may download this material at http://booksupport.wiley.com . For more information about Wiley products, visit www.wiley.com .

ISBN 9781118744826 (cloth); ISBN 9781118744765 (ebk); ISBN 9781118849101 (ebk)

Sometimes, what the affluent dont do speaks volumes.

For almost a year, Mr. and Ms. Elliot observed the construction of a beach house across the street from their vacation home. On the way to the shore, they often stopped to talk with the owner, Brad, as he supervised the building contractors.

Brad was always up for a neighborly chat. He loved talking about the quality of the building materials and the workmanship. He loved giving tours of the house as it rose from the vacant lot. This was his familys third househis retirement home on the beach.

One day, however, Brad stopped coming to the house. Instead, a Realtors sign appeared in the front yard. The sign stayed there for many months until it, like Brad, simply vanished.

At this point, Ms. Elliott asked Mr. Elliot for his views on purchasing the property. After all, they knew the house was high quality. Theyd inspected every square inch of the place. Whats more, while their current beach home would be great for their children, it wasnt something she wanted for their retirement years. Why not purchase the luxury beach house, and let the kids stay in the old house during their visits?

Two hours (and a few phone calls) later, Mr. Elliot negotiated a cash deal for the beach house, which included all of the furnishings. Two weeks later, they closed on the house.

What the Elliots did was straightforward. They bought a house.

What the Elliots didnt do is less obvious, but it illustrates: (1) how todays affluent make major purchase decisions, (2) who makes the decisions, and (3) whom they trust. Note the following:

• The Elliots did not seek counsel from their financial advisor before buying the house. Scarred by the recent financial crisis and the Great Recession, they no longer had full faith and confidence in their advisors ability to manage all their assets.
• They did not contact the Realtor (the one who planted the sign) to broker the deal. Instead, they went directly to the ownersomeone they knew, liked, and trusted.