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Selling to the Affluent
 
 

Selling to the Affluent [Kindle Edition]

Thomas J. Stanley Ph.D.
5.0 out of 5 stars  See all reviews (2 customer reviews)

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Product Description

Product Description

In the best-selling classic The Millionaire Next Door, Dr. Thomas Stanley showed his readers where to look for the wealthy. In Selling to the Affluent, he shows us how to persuade them. This book provides an insightful roadmap of the motivations and purchasing patterns of the affluent—and delivers a strategy for salespeople to leverage that information to best advantage.

This book outlines all phases of the sales process, from approaching wealthy prospects to pinpointing their wants and needs—frequently different from those of less affluent markets—and selling both tangible and intangible products. It profiles several key demographics within the wealthy subset—including business owners, men and women, and the retired. It’s the most detailed and inclusive manual on the market for selling to the wealthy.

ABOUT THE AUTHOR

Formerly a professor of marketing at Georgia State University, Dr. Stanley spent approximately 20 years interviewing America’s wealthy, starting in 1973—and focusing on people with a net worth of at least $1 million.

His first book, Marketing to the Affluent, was chosen as a Top 10 Outstanding Business Book by the editors of Best of Business Quarterly. He achieved popular acclaim with The Millionaire Next Door—selling over 2 million copies. His subsequent book, The Millionaire Mind, debuted at #2 on the New York Times bestseller list.

Dr. Stanley holds a PhD in Business Administration from the University of Georgia in Athens. He currently lives in Atlanta.

From the Back Cover

"I told you how to find them. Now learn how to sell them."
­­Dr. Thomas J. Stanley

"Dr. Stanley's strategies consider the real needs of the high income professionals­­needs that go beyond any product or service. These needs are psychological and revolve around the recognition of the individual's extraordinary level of achievements. He provides some terrific insights as to how to solicit and maintain business by unconventional, but highly effective means".­­Carolyn J. Cole, Senior Vice President, Consumer Markets, Paine Webber, Inc.

"Must reading for anyone who is serious about building a career in sales to wealthy individuals."­­J. Arthur Urciuoli, Director of Marketing, Merrill Lynch

"Selling to the Affluent is well written, relevant, and exciting; it presents an important complementary extension to Marketing to the Affluent."­­William D. Danko, Ph.D., Director, Executive Development Programs, School of Business, State University of New York


Product details

  • Format: Kindle Edition
  • File Size: 683 KB
  • Print Length: 509 pages
  • Publisher: RosettaBooks (29 Jun 2012)
  • Sold by: Amazon Media EU S.à r.l.
  • Language: English
  • ASIN: B00CME4A6W
  • Text-to-Speech: Enabled
  • X-Ray:
  • Average Customer Review: 5.0 out of 5 stars  See all reviews (2 customer reviews)
  • Amazon Bestsellers Rank: #414,537 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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Most Helpful Customer Reviews
1 of 1 people found the following review helpful
By A Customer
Format:Paperback
If you're the best at what you do...or want to be, this book gives the straightforward information you need to make a substantial increase in your sales income. Dr Stanley gives application, scenario and a multitude of angles in the application of sales techniques that most would never learn in a lifetime, including myself.
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1 of 1 people found the following review helpful
5.0 out of 5 stars Equivalent to MBA + Good common sense. 15 Aug 1999
By A Customer
Format:Paperback
I have read this book approx. 1 year ago and, as a sales trainer suggest many of the principles recommended in Selling to the Affluent. It is a must for every sales professional who wants to develop a referral clientelle and build a life long career. A highly recommend.
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Amazon.com: 4.5 out of 5 stars  15 reviews
18 of 18 people found the following review helpful
5.0 out of 5 stars Outstanding - A treatise on how to sell to the savvy 18 Aug 2002
By Chuck Kimbriel - Published on Amazon.com
Format:Paperback
Aside from being a followup to Marketing to the Affluent, STTA shows you how to sell the savvy. It tells you when the best time is to approach them and also offers dialoques and examples.Having read many sales books, it is refreshing to read one that deals with facts and teaches techniques that don't insult your client.Selling to the Affluent reveals the three most important things you can do to land afluent prospects and encourage wealthy clients to buy and make repeat buys.Stanley shows how to:Create lists of affluent prospects who are "riding high" because they've suddenly come into money or improved their socioeconmic status.Approach prospects at the moment when they are most likely to buy.Find and utlize critical information that will help you prospect, communicate, and clos sales more successfully.Chapter profiles two of America's most successful sales professionals and chapter 13 goes into apostles vs. antagonists. Which one do you want to be?I highly recommend this book along with Marketing to the Affluent. Two other worthwhile reads are Earning what you are Worth and Advanced Sales Strategies.
15 of 15 people found the following review helpful
5.0 out of 5 stars A reality check for all salespeople targeting the affluent market 4 Oct 2008
By Mike - Published on Amazon.com
Format:Paperback|Verified Purchase
Dr. Stanley lays down a few key assumptions in this book and repeats them aggressively for one reason: He wants you to understand the fact that the strategies employed by successful salespeople in this market are largely ignored by the majority of their competitors.

One example (and there are many in the book): "Fifty top-ranked sales professionals spent an entire day together at a seminar. The seminar was held in a room within 100 feet of a doll auction. The auction was attended by hundreds of affluent prospects. Many dollars changed hands that day. Several attendees paid up to $40,000 for one doll. The auctioneers received between 10 and 35 percent of the sale price. Not one top-ranked sales professional who targets the affluent attended the auction."

Stanley is highly skilled in balancing stories of opportunities taken with stories of missed opportunities. Over the course of the book's 477 pages you begin shaking your head in disbelief, along with Dr. Stanley, as you realize that these opportunities are the "diamonds" described in Russell H. Conwell's 1921 masterpiece Acres of Diamonds (Dover Empower Your Life Series). The primary skill required to take advantage of these opportunities is opening your eyes. They are not hidden. They are in plain view, and time and time again "skilled" salespeople walk right past them as if they didn't exist.

Stanley shares some common ground with Dan Kennedy's book No B.S. Marketing to the Affluent: The No Holds Barred, Kick Butt, Take No Prisoners Guide to Getting Really Rich when stressing the importance of recognizing the affluent for their achievements. This is another critically overlooked area. The affluent want to know "inwardly," through recognition, that their achievements have made a difference. Many also have a deep need to project this "outwardly" with material symbols of achievement (homes, vehicles, clothing, expensive watches, etc).

At this point a reader might be tempted to say "Why should I care about how the affluent feel about themselves?" A valid question. The difference between caring and not caring is the difference between those who are positioned to sell to the affluent and those who are not. You have two choices: start caring, or pick a different demographic.

There is also an excellent chapter on courage, another key ingredient. While it may seem simple and academic, I'm sure that many will agree that one key reason why salespeople lack the ability to sell to the affluent (or the ability to generate profitable sales in any market) is that they lack the courage to walk up to the prospect and ask for the sale.

All of which brings us to one of the best parts of the book: the mind-numbing number of stories from Dr. Stanley in which affluent prospects share stories of NOT being approached, of NOT understanding why, of expressing their willingness to buy "if only" a salesperson had approached them.

Of course, that doesn't mean that a salesperson can pick up the phone and indiscriminately start dialing rich people. Timing is a key concern, and it's exhaustively covered in the book. There is a window of opportunity, a "season," and once you understand it, go to work. Many salespeople make the mistake of choosing a completely inappropriate time to approach affluent prospects. Buy the book and you'll gain this insight.

Selling to the affluent is a niche market, but as in all effective selling efforts, there are skills which you must master. First, you need to do your homework. You need to get inside of the heart & mind of your buyer. Second, you need to develop an understanding of WHY they buy, HOW they buy, and WHEN they buy. Third, you must have courage and confidence and an unshakable belief in yourself and what you are selling. Fourth, you must be a provider of solutions. Fourth, you must ASK. Get a copy of Jack Canfield's book The Aladdin Factor. It's one of his best books, in which he spends 277 pages convincing you that the single greatest reason why more people don't get what they want is that they simply will not ask for it.

"Selling to the Affluent," as well as Dr. Kennedy's Marketing to the Affluent, will only be a worthwhile investment for you if you have decided to take this market seriously, if you are committed to doing the work, and...as stated above...are willing to do the things that most salespeople are not willing to do in this market because they lack confidence, they lack motivation, they lack awareness.

You can buy the book and you can get the message, but until you make contact, it will just be another book on your shelf. Buy it and USE it.
12 of 13 people found the following review helpful
5.0 out of 5 stars Very good book but read others Dr. Stanley has written 10 Feb 2003
By Don McNay - Published on Amazon.com
Format:Paperback|Verified Purchase
This is a good book and part of a series that Dr. Stanley has written.
Dr. Stanley has become a big name since the tremendous success of "The Millionaire Next Door" but all of his books on marketing and selling to the affluent are great.
I prefer the book "Marketing to the Affluent" if I only had one to read but if you are someone who deals with high income people, all books in the series are a must. He is ground breaking in his research and writes in an easy to read style.
I am a financial consultant and structured settlement consultant for injury victims who receive large settlements. I quote Dr. Stanley's research often and try to read everything he publishes.
I would recommend this highly as well...
12 of 13 people found the following review helpful
5.0 out of 5 stars A Ph.d in selling 15 Jan 2004
By A Customer - Published on Amazon.com
Format:Paperback
This book by Dr. Stanley is equalivent to a Ph.d in selling. No matter how many books you have read on selling, this book will teach you many things you have never heard before.
Must reading for all serious sales people
13 of 15 people found the following review helpful
2.0 out of 5 stars Overstuffed Disappointment 20 July 2001
By A Customer - Published on Amazon.com
Format:Paperback
Hoping this book could help in building a career as a financial advisor, I was disappointed at the lack of editing (this book is 200 pages too long) and the inclusion of some letters Stanley had written and the replies he received. Not a total waste for he does point out how many of the rich and/or socially prominent do not get approached. Some ideas, like having plaques made for potential clients you don't know, seems odd. Not nearly as helpful as Leroy Gross' "Art of Selling Intangibles" or Nick Murray's "The Excellent Investment Advisor."
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