The timeshare sales presentation can be a stressful, high pressure scenario for buyers and sellers alike. It’s a unique “hard sell” that has earned the industry a less-than-sterling reputation from many consumer advocates.
But is there something that other industries can learn from the shared vacation industry’s tactics? According to corporate development specialist Ariana Ayu, the answer is yes.
The CEO of Ayutopia International – and professed timeshare owner – recently took to Inc.com to explain why one timeshare sales technique “really is gold… and can be used to your advantage, no matter what you’re selling” – and that’s the idea of selling to your existing customers.
As Ayu puts it:
“Any sales course worth its salt will tell that it is easier to sell to people who have already said yes to you once. They’ll also tell you that you want to start off by getting little yeses. (“Are you enjoying your vacation?” “Yes, I am, thanks.” Do you like the beach?” “Yes, I do, thanks.” “Do you like free stuff?” “Yes, of course I do!” “If I told you there was a way to basically vacation for free, would you want to do that?” “Yes, I’d be a fool not to!” etc.)”
She goes on to cite many of the statistics that back up the idea of targeting existing consumers: Ayu points out, for instance, that “40% of an ecommerce store’s revenue comes from 9% of its customers,” and that repeat customers are roughly 60% more likely to “convert” than customers with only one purchase to their name.
“Reach out to past customers and give them the opportunity to say yes to you again,” Ayu concludes “Chances are it’ll be worth your time.”
Of course, even when cherrypicking the upsides of its tactics, Ayu is acutely aware of the timeshare industry’s downsides, pointing out that annual maintenance fees are burdensome and “ever-increasing;” that it can be complicated (or costly) to rent out, exchange, or redeem your timeshare; and that marketers’ claims about timseshares being “real estate investments” are dubious and misleading, at best.
Still, her entire piece is worth a read over at Inc., if for nothing more than to glean a new perspective on the industry from a knowledgeable source with first-hand insight.
Led by Attorney Michael D. Finn with 50 years of experience, the Finn Law Group is a consumer protection firm specializing in timeshare law. Our lawyers understand vacation ownership as well as the many pitfalls of the secondary market of timeshare resales. If you feel you have been victimized by a timeshare company, contact our offices for a free consultation. Know your rights as a consumer and don’t hesitate to drop us a line with any questions or concerns.