SELLING HIGH NETWORTH PRODUCTS!

Looking at the beautiful art by the talented Pamela Enyonu during her recent solo exhibition "Ateker, Ijasi biyayi?-Greetings from the road" got me thinking about the science of selling high value products.

Some of these pieces cost an approximate 14,000 usd. Ordinarily, not all 35 million Ugandans can definitely afford this, but i am convinced from personal experience and evidence from online sources that there are many Ugandans among the 35 million that can purchase these pieces.

You can read an article here about some of these Ugandans: https://www.independent.co.ug/uganda-has-over-500-billionaires-knight-frank-report .. My assumptions on who could buy any high-net-worth products, be it a penthouse, a car, or prime land, are on the extreme. The ever-expanding number of apartments, businesses, and restaurants in Kampala, along with GLEs, Rang Rovers, and the renowned Brabus G wagon, is estimated to be worth over $1.2 million USD. It leaves me imagining what more we can sell to all these individuals. Over and reckless spending has become a common term in Uganda, with choppers flying over our heads more often than usual!.

I imagine there is a market for any product one wills to sell as long as the client understands its value and worth. Right here is a key step in selling high-net-worth (HNW) products: get the right client to understand the product and its value.

First things First, a high-value product is something that is worth more to customers than generic or commodity products. And here are some steps you can take to sell HNW products:

Research and Documentation : Verify authenticity, gather documentation, and research market demand. Be it land, a house, art, etc., as long as the customer is spending over and above their usual expenditure, they will definitely do some research, so be on top of your game.

Determine the Value : Get professional appraisals, consider condition and rarity, and set a competitive price. Valuers, surveyors, fixers—they all have to be your friends at this point .

Choose the right market: Decide on the best platform to reach your target audience, whether it's direct selling, networking events, auctioning, social media, or out door advertising. Just get as many people to know about your product as possible . It is awareness that breeds conversion.

Prepare the Product : Ensure excellent condition, provide high-quality images and descriptions, and consider professional conservation.

Networking and Outreach : Engage with collectors, curators, and industry experts and leverage personal connections.

Negotiation and Closing : Be prepared to negotiate—who doesn't want a good bargain?—ensure clear communication, and finalize the sale with a formal agreement.

Post-Sale Follow-up : Provide excellent after-sales service, encourage client feedback, and consider offering additional services.

Selling HNW products its worth the flex... you definitely know the reason by now if you are in sales so let' see how we can improve our game at it!

PS: We all got mangoed at the recent Magic Mango series by ManyMangoes ?? with 30+ industry leaders in sales sharing practical lessons and experiences- so take time to search out for recordings!.

Share your tips and experiences on selling HNW products especially in the african context-i want to learn.

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