Researching and knowing statistics about the product or service you’re selling is a part of ‘product knowledge’, a key to gaining your prospective buyer’s trust. If I’m going to buy something, I know that to get the best bang for my buck, I should find the most knowledgeable salesperson who also expresses a willingness to engage with me after the sale has closed, too (success management). Product knowledge and memorizing statistics is step 1. Don’t forget also to get to know your product intimately by buying and trying your own product as well as others.
- Statistics give customers a solid perspective. When we know how well a product performs in relation to its competitor, we feel like we are making an informed decision and are more likely to purchase sooner.
- Statistics give salespeople confidence and compelling evidence to respond to customers’ questions with.
In this article, you’ll learn which statistics to find and how to use them. Essentially, I’ll outline how to create your own ‘fact sheet’ that will assist you in making an impression during a verbal sales pitch or presentation. You can choose to use the fact sheet to remind yourself of your product’s usefulness privately or you can distribute it to your potential customers. I, especially, believe in giving something tangible to prospects, so if you don’t currently have something like that, this will suffice. Be sure to dress it up in canva.com, add a call to action and contact information at the bottom. You can also use the data you’ll collect today to add great content to a powerpoint presentation.
Let’s get started!
Statistic Tip #1: Identify your ideal customer’s main pain point or motivation. Use a statistic to measure the size of that problem or motivation.
For example, I am a representative of a modeling agency that supports a model through every stage of her career. It is my job to find new and intermediate models who need our services most and sell them on joining our agency.
I’d hoped to provide you a good search engine site specifically for statistics but did not find one. The best way to find these statistics is first to brainstorm the exact figure you’re looking to find and then search for the statistic specifically, like:
‘statistics about fashion model success’
‘statistics about fashion modeling’
‘statistics about the modeling industry’
My main pain point is that novice models do not want to go on the journey alone, unguided, or misguided.
On this site, https://modelalliance.org/industry-analysis, I found:
- Most, if not all, models begin their career before the age of 20
- Under 25% of young model’s parents go with them to auditions
- Over 50% of models suffer anxiety and depression, have been asked to lose weight by their agency, have been exposed to drugs and alcohol, and have had uncomfortable situations regarding nudity and exposing their bodies.
Young models’ careers can flourish in a body-positive, protective agency that provides them legitimate jobs and training.
Wouldn’t you be sold?! Especially as a parent, but also as a young model, many of the statistics posted on this website were directly from young models expressing their own fears about the industry.
Statistic Tip #2: Talk about what results others get from choosing a less favorable alternative to your product/service.
With my example, I think it would be best to talk about the positive results of choosing my service. If you started with a pain point (instead of a motivation) as I have, you might want to lighten the mood with positive statistics next. Vice versa, if you started with a motive, something they were excited about, you might want to talk about pitfalls of people who chose the wrong path to get there.
With information I found on the Better Business Bureau (BBB.org), I was able to learn:
Most models work with agencies or managers, and only a sliver of new models attempt booking jobs on their own. Working through an agency is ideal because model-hiring clients prefer to work through agencies. The advantage to the model, of course, is the higher volume of jobs available and a form of protection.
Statistic Tip #3: Use a statistic to prove your solution useful.
According to this Hubspot article, https://blog.hubspot.com/sales/sales-statistics, 60% of buyers want to discuss pricing on the first call, and since I haven’t addressed the cost in any prior statistics, I think it would be best to introduce it here.
So in my research, I learned from money.cnn.com (https://money.cnn.com/2016/05/09/news/runway-injustice-model-expenses/index.html) that on top of many other hidden costs of modeling, agencies often take 20% or more for commission from the model, and then another 20% from the hiring client. Models usually take home very little when all is said and done, especially because they are subject to paying their own taxes as an independent contractor.
I would include all of this information on my ‘fact sheet’ and then explain how my agency’s business model is different.
Statistic Tip #4: List your features and benefits to support the previous statistic.
Statistic Tip #5: Other supportive statistics may be:
- More statistics about how customers have succeeded with your solution
- A look into the future (what happens to these customers after 1 year with your solution? 5 years?)
Statistic Tip #6: Create your own statistics!
The cherry on top would be real statistics about YOUR real customers and their results using your solution. You can attain this information by creating a before/after-like survey for your clients, brainstorming the exact statistics you want to obtain and being sure to ask your customer base, or taking a ‘sample’ from the public during a relevant event.
If I truly were representing a modeling agency in my area, I would go to a large casting event with a short questionnaire that would nail each one of these tips. I’d ask what their main obstacle has been in modeling and what their experience has been with previous agencies or going it alone. I’d also get into specifics about what they did not like about their previous route and what they’d want most in working with an agency.
If after doing this exercise, you didn’t learn a hell of a lot about your industry and developed a newfound appreciation for your product or service, I don’t know what will! Statistic research allows us to get to know our customers so much better and communicate with them more effectively. This is an example of going the extra mile for your client base and will set you apart from the rest.