Have the main motivating factors changed over the years? Is it now solely financial, or has focus changed from a lifetime of holidays to greater experiences? Let us know your thoughts…

Hi Leah,

My company, Resort Suites International, has recently completed our global market research survey with Perspective Owners Magazine 13,000 readership with comprehensive valuable information regarding “2011 Resort Ownership Products Preferences” & “The Next Gernation of Resort Hotel Investment Ownership Offerings.”

The respondents from over 27 countries expressed amazingly favorable 97% potential purchase indications for our Hotel Investment Trust (“HIT”) innovative products. The survey highlights are available upon request to RSIAP@AOL.COM. Our survey will demonstrate valuable future consumer demands for resort ownership products.

Please send me a copy of your report, kevin.ryan@oceanbreezevillas.com

Also, does anyone know of any good resources to find out what consumers are looking for in terms of timeshare in todays market, is price, weeks locations and if you know of any good comparisons.

Kevin,
Timeshares are still being effectively sold using the same presentation that has worked since the early days. The main reason people buy timeshare is because a commissioned sales person is selling them. I truly believe that an effective sales person can sell timeshare to nearly everyone who is qualified to buy (i.e. has the money and the right demographics). The pitch remains the same — build rapport, discover how the client has vacationed and why, create the need (reminding them of the importance of time spent with family), create credibility in the company, show the product, create the value (based on savings), trial close, handle objections and close. Of course, there is more to the ideal sales presentation but those are the highlights.

As far as fractional, the success of fractional depends heavily on: 1.) Location (close enough to where the customer lives to use the product repeatedly), 2.) Something really special about the product (spectacular view, water access, ski in/out access, or other), 3.) A really knocked-out interior (key is to be more modern and as nice or nicer than the client has at home), and 4.) Available financing. Right now, the fourth point is the toughest. The other important distinction about Fractional is that it often is NOT a same day sale (unless the pricing is very low). The sales cycle can be lengthy and requires a strong in-house telesales team to follow-up and sustain interest. If you would like further information, contact me at 407-399-0826. I have lots of experience in both products.
Chuck

Yes Charles certainly knows his stuff. However it is not just timeshare that has been sold that way, but every major item you will purchase in your lifetime from Houses and cars right down to fridges and Clothes are sold that way. So really thats just “sales 101″. While we all love a prequalified buyer it is not fool proof. Through experience i have sold many ” unqualified buyers” My own personal opinion is that the more wealthy leads underlying thought tends to be ” what will i lose if i purchase this ” Whereas the poorer leads tend to be ” what will I gain if i purchase this” The latter being the easier to sell. I can’t remember who said it but. ” If you put a mirror under their nose and it mists up. They’re a lead.” And lets face it in this economy we can’t afford to be picky.

Hi Brian,

Always interested information on our industry. Please send details to
leah.cowley@accorvacationclub.com.au
Regards

PS: Leah, I meant to mention that I agree with what you said about the sales of other high-end products. A good sales person can sell anything.

I have been totally responsible for running two timeshare companies and was, until recently helping a friend with marketing at another. I am not on the sales person but clearly work very closely with sales and have for years. I do do their comp plans, set pricing, and have run contract processing.

By pre-qualifying, I mean using new, sophisticated software that only works in the U.S. and uses a vast array of data sources that does not rely on what people say about themselves. It works really well and only requires a name and address, nothing more.

The fractional product does sell lot more like traditional real estate and in fact the line that I ran with one of the very first fractional products ever done was sold from the same line that sold houses and lots while timeshare was sold on a different line. I’m not saying you can’t close fractional sales same day but you need a strong first day incentive (and not nose-bleed price drops) and it does pay to have a telesales line to chase those who don’t but same day. If you need some consulting on your project in this area, I might have some time available after finishing up a couple of projects I have over the next 6-8 weeks. Let me know if I could help. I can send more info on my experience (CV, etc.) if you are interested.
Chuck