LETTER FROM CHAIRMAN

May 2014

This time I am going to talk about prospective customers you get to interact with, when you’re selling timeshare. Scratch the surface and the benefits of timeshare are easy to see - beginning with long-term benefits of a holiday week every year and protection from inflation.

From what I’ve seen it’s become a trend for young professionals to sign up for timeshare after they’ve got a home loan and a car loan under the belt. But as the gurus say, it’s not a sale until you have sold it.

So it’s essentially about inviting the right people to an interactive zone where you can convert them from prospects to customers. Based on my observations over the years, there could be at least eight typical profiles that you will come across. Let’s see if they match what you may have encountered.

• Profile 01 – “My colleague has picked up a timeshare plan and takes off every year on a holiday…”
  
  This profile has a basic “me too” orientation – he’s tuned in because he too wants to be seen going on a holiday every year with the family. He may not have the budgets for it, so he’ll fish around till he can really take stock in terms of cash flows and affordability. Not a bad prospect but you need to work hard on this guy.
  
  
• Profile 02 – “My wife has been complaining a lot about the kind of time we spend at work. And threatens to do something if we don’t have a holiday plan”
  
  This person will be easier to handle because he already has “product push” happening at home. The wife has probably done half the job for you. Anything to do with keeping the family happy, will be the route to take.
  
  
• Profile 03 – “I can afford timeshare, but I simply, simply don’t have the time for a holiday…”
  
  This person probably qualifies as a prospective customer, but will come up with a hundred reasons why he just does not want to consider it - at this point in time. Can be worked around, with some persuasion.
  
  
• Profile 04 – Someone who’s older – “Have I missed the bus, on doing exciting things in my life?”
  
  This is a good prospect, but will have many other commitments that could take precedence – especially if he’s around 40, or older. He could have kids in school and maybe parents who are getting older. Not easy to sell to, but you can try.
  
  
• Profile 05 – “Someone, who fits the bill in more ways than one, but is not motivated enough about taking a break with the family.”
  
  Just because he can afford it, it doesn’t mean he’ll bite. This can be a difficult customer and he may not even talk to you, after the first call. You will need to wear down resistance and wait for the opportune moment. Patience pays.
  
  
• Profile 06 – “HNI prospect in his sixties, with returns coming in from investments.
  
  This prospect may not be on your wish list, but don’t rule him out. I have come across people in this prospect group gifting timeshare plans to their daughters as a wedding gift. You need to do a lot of homework here as he will be very attentive to facts, figures and other details. This prospect will certainly weigh his options and go for the best that his money can buy.
  
  
• Profile 07 – “Someone who’s just turned 30, and doing all the right things in terms of job, career and other interests.”
  
  Now that’s your boy. This is the profile that’s probably ready and primed for something like timeshare. He wants to be doing the right thing at the right time. Grab him before someone else does.
  
  
• Profile 08 – “Young working women between 30 – 35 who are these days making key decisions for the family.”
  
  This is increasingly a good prospect – women professionals can be very analytical, but they don’t come with blinkers. Anything constructive for the family gets a quick nod and the green signal. I’ve seen women make quick decisions, when they are convinced about something.

Which brings me to the need to constantly re-invent our strategies depending on who we are talking to. Importantly, we need to talk to each prospect like timeshare was specially invented for him. Or her, as the case may be.

B. S. Rathor
Chairman, AIRDA