Alex Hormozi: My Best Sales Tactic (to Make a TON of Money)

The video is about a sales tactic called "ghost products" that involves recommending cheaper or lower margin products to gain the trust of customers and make them more likely to buy higher margin products in the future.

This video by Alex Hormozi was published on Sep 18, 2022.
Video length: 08:12.

In this video, Alex Hormozi shares his most powerful sales tactic that he stumbled upon while selling supplements at his gym.

He explains how he used the tactic of recommending cheaper products from other stores to gain the trust of his customers and sell more of his own products. He also emphasizes the importance of having positive intentions and acting in the customer's self-interest to avoid manipulation.

Hormozi provides tips on how to use this tactic effectively, including using low-margin products as sacrificial lambs and using a prescriptive approach to upsell.

• "Ghost products" is the most powerful sales tactic that the speaker has learned.
• The tactic involves recommending cheaper or lower margin products to gain the trust of customers and make them more likely to buy higher margin products in the future.
• The speaker stumbled upon this tactic by accident while selling supplements at his gym.
• Ghost products are a powerful sales tool to gain trust from the other person.
• Prescriptive clothes and one-click upsells can be used in combination with ghost products to set up trust and increase sales.

My Best Sales Tactic (to Make a TON of Money) - YouTube

Introduction

• The most powerful sales tactic that the speaker has learned is called "ghost products".
• He stumbled upon this tactic by accident while selling supplements at his gym.
• He was able to sell 100% of people after making this one switch in his sales approach.
• He was able to teach this tactic to people who had never sold before and they were able to close 80-90% of people who came in the door.
• This tactic involves recommending cheaper or lower margin products to gain the trust of customers and make them more likely to buy higher margin products in the future.

The Birth of Ghost Products

• The speaker was selling supplements at his gym and would sell some sort of service package and then do a nutrition orientation.
• During the nutrition orientation, they would make recommendations for products.
• One day, he ran out of a key product and recommended a cheaper alternative at Costco instead.
• After making this switch, everyone bought what he recommended afterwards.
• He leaned into this tactic and started recommending two products that were cheaper elsewhere.

Using Ghost Products to Gain Trust

• Ghost products are a powerful sales tool to gain trust from the other person.
• If you believe in the stuff that you sell, you can create an environment where someone will trust you faster by giving them a reason to trust you.
• This means that you acted in their self-interest rather than your own so that they can feel like you're not trying to take advantage of them.
• If you know that they need a product but they don't yet know that they need it, you can make a concession using a ghost product to gain their trust faster.
• Make the products that you send across the street to be the ones that are the lowest margin product to gain trust by giving away the low margin stuff and then keep the high margin stuff for yourself so that people trust you and then they buy that stuff.

My Best Sales Tactic (to Make a TON of Money) - YouTube

Prescriptive Clothes and One-Click Upsells

• Prescriptive clothes involve giving someone a vision of what their life will be like when they're experiencing the benefits of a product.
• Explain to them exactly how to take the product before making the ask.
• Use a combination of a prescriptive clothes and ghost products to set up trust.
• Show them how they're going to make this happen in the routine.
• Use a one-click upsell that is a combination of a prescriptive clothes and having ghost products to set up trust.

Using Ghost Products to Increase Sales

• Associate the usage of the product with something the customer is already doing to make it easier for them to adopt the new product.
• Recommend cheaper or lower margin products to gain the trust of customers and make them more likely to buy higher margin products in the future.
• Order the products in order of importance and take off one if the customer is on a budget.
• Reintroduce the problem that the product solves if the customer doesn't buy it.
• Associate the new product with a new identity and new activities to make it more appealing to the customer.

Working with Low-Ticket Sales to Improve Selling Skills

• Inject yourself into the sales process of a business that sells lots of low-ticket items to get more practice and improve your selling skills.
• Dealing with people in low-ticket sales will teach you more about the skill of selling than any course ever will.
• Use the experience gained from low-ticket sales to make selling higher ticket items easier.
• Recommend outsourcing certain services to save money and allocate resources more efficiently.
• Move to the customer's side of the table psychologically to make them feel more comfortable and increase trust.

Watch the video on YouTube:
My Best Sales Tactic (to Make a TON of Money) - YouTube