Do You Own What You Sell?

Years ago when I worked for a large life insurance company we were encouraged, and sometimes badgered, to buy their products. The manager of the office would say, "I can't tell you how it works, but if you own it, you'll sell more." Apparently there was some magical force in the universe that we were all unaware of.

At the same time, there was a huge increase in credibility when I would talk to a client about disability insurance, for example, and they would ask, "Do you have a policy?" Of course I did, but if I had said that I didn't, it could be a deal breaker. 

"Why should I buy it if you don't think it's good enough for you to buy?" Awkward.

When I left that company and went to another company the new manager said, "We sell on need. If you don't need it, don't buy it." He was right. Of course, he would lie and tell his clients he owned everything. Needless to say, I left that company after a few months. 

But does owning what you sell give you credibility with a customer? You can rest assured that it does. Part of being a sales professional is leading, and in the mind of that buyer, you must lead by example.

Of course this doesn't apply to all industries. We can't expect a pharmaceutical rep to take the drugs they are promoting to doctors they call on. That would be a very strange conversation. "Why should I promote your drug that prevents gas if you aren't willing to take it?"

Reasonable people wouldn't expect that. But they would expect someone selling vacuum cleaners door-to-door to own one. And the same goes for any person selling cars, jewelry or a multitude of other products. That shows that you actually believe in the product. 

There may be a lot of reasons why you don't own the product you sell. For instance, let's say you sell high-end luxury cars. You may not be able to afford one of these vehicles, especially if you are just starting out in the business. 

The thing to remember is that your customer may also say they can't afford that car. You won't have much ground to stand on when they go there because to them, not being able to "afford" it is not your reason, but your excuse. And that can go for any other valid reason you don't own what you sell.

Eventually you are going to have to get around all of this by actually making a purchase. Yes, you may get the "employee discount", but committing your own dollars shows that you actually do believe in the product or service that you are trying to convince others to buy. That may be a tough nut to crack mentally, but when you actually commit to parting with your hard earned cash, your customer will see it and respect it.

Oddly enough, when I was selling for that previously mentioned insurance company, I noticed that the agents who wrote tons of term life insurance (with low premiums, thus low commissions) only owned term life insurance. The agents who sold a lot of disability insurance had their own disability coverage. Maybe that mystical magical force worked afterall. 

On the other hand, I was the top producer of long term care policies one quarter and I did not have a policy of my own. Why? I didn't need one at the time. That doesn't mean I couldn't communicate the need to others.

Look at what your product lines are. See what you can use and don't be too concerned about being able to afford it. Then see if your enthusiasm for those products translate to more sales.

Chris Castanes is a professional speaker who helps sales people succeed through workshops and humorous presentations. He's also the author of "You're Going To Be Great At This!", a humorous look at sales. For booking information, click here. He's also the president of Surf Financial Brokers selling life and disability insurance in several states.