How to Increase the Perceived Value of the Thing You Sell
This weekend, I had the chance to witness one of the best sales presentations of my life. Let me show you how it worked, and how you can model it for what you do.
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Hey everybody, this is Russell Brunson. Welcome back to the marketing secrets podcast. Today, I want to talk about the secret to increasing the perceived value of whatever it is you're selling. And I'm going to tell you a story about how somebody did this to me this weekend and it was amazing. So, here we go.
All right, so I'm going to give you some backstory. Some of you guys know that I'm mildly obsessed with books. Books are the coolest, seriously, come on now. And so my office I'm in now, is swelling with books. We have big bookshelves but there's no room left at all. And so, I decided to start a project. We're going to build a library, a huge library in the lot next to our office, so I can have more books.
So I think my office right now has, I think we did the math, has like a little under 10,000 books are in there right now. And the new office will hold, or the new library, will hold up like 60,000 books, which is crazy. And I'm going to have different sections. Like one section that's going to be just about business. One on personal development, one on health, one on religion, just the different topics that I'm passionate about, right?
And so, and in there I'll have all the books that matter on all those topics and it's going to be amazing. But then on top of that, I'm kind of a collector of old books, because old books are the coolest thing ever. And so, in section, like for the religion section for example, it'd be a big like white glass bulletproof case that has these old religious books in there.
And then same thing with personal development. Like, I'm looking at this, The Laws of Success that Napoleon Hill wrote way back in the day, that's so cool. Anyway, that'd be out on display under these bulletproof glass and a bunch of the cool things. So anyway, there's kind of the frame where I'm at, right? And so anyway, there's this guy who messaged me this week and was like, "Hey, I'm one of the top..." Or, not the one of, "I'm the top rare Mormon book collectors in the world."
And he's like, "I'm in Utah right now and I can come and show you some of things I have. And he started telling me all the stuff he has, I'm like, "Heck yeah dude, if you want to drive up here, I'll look at it." Not thinking that I'm going to purchase anything. So anyway, so the guy that drives up and he has these cases and brings them out and he's got all these old insanely cool, amazing books, right?
Now, again, I can't tell you all the details because... Anyway, so some things don't make any logical sense, but I'll give you the basic gist. So, so you guys know, I actually bought a first edition book of Mormon back in the day, which is one of my prize possessions. And he had like five first additions. And my mine's like a good one, these are like insane. The highest quality in the world, right?
And so when he brought him, I'm like, "I'm going to look at these things but I already have one, I don't need another one. There's no way I'm going to do it." Right? And he tells us ahead of time, he said, "I'm not the best sales person in the world, but as I show you these books, I'm just going to tell you the story behind each of them." And I'm like, "Okay."
And so, one at a time, he pulls out the book and you see it. And I was like, "Oh cool, yeah, I have one like that." And then he starts telling you the story behind it. Like, "Let me tell you how I found this. This is where I got it. This is what it looks like. This is why it's so cool. This is..." Like, "Look at this, look at the inscription, look at the thing here, look at the thing..." And started showing you all the pieces about it.
Where within like 10 minutes I'm like, "Oh my gosh, I want that so bad." And they shows the first book and he's like, "Here's the second book." And pulls it out and tells the story behind that and how he found it, and why it's so cool and the intricacies and why this one's different, and why it's so important, and why very few people have it and the scarcity of it.
Right? The second book is the second edition printing of The Book of Mormon, and it was so cool. And he's like, "Just so you know, there's only 25 of these on planet earth right now that we know of. And this one is the best quality one." And shows that and I'm like, "That's so cool." But still in my head, I'm like, "I'm not here to buy anything."
And then he shows the third one and the fourth one and the fifth one. Then he shows this other book and then just going through book after book, all these things. And as he did it, he didn't just like, "Oh, here's the book." Like, show it to me. He told me the story about each one. It was interesting, as he told the story, the story, as you guys know, if you've been following me for any amount of time, the story increases the perceived value of the thing.
And so by hearing the story, he went from like, "Oh yeah, that's a book." Like, "There's no book." To like, "Ooh, there's an old book that it's pretty cool." To like, "Oh my gosh, I really want this old book." And by then it's like, "I have to have this at all costs." Like, "This needs to be in my library, otherwise, what's the point of building a library? I should just burn it to the ground, right?"
And so, it was just fascinating. And this was one of my interesting takeaways. Because I asked this guy, he finds these things, collects them, and then sells them. And I said, "Is this hard for you to sell these after you find them and you know the stories?" And he told me something interesting. He said, "I've regretted every book I've sold." He's like, "But this is what I do. So I've done it for the last 40 years."
And it was interesting because I was noticing myself, as he told the stories, how engrossed I got into the story of each book and how important it became to me. And I remember feeling this other thing where I was like, "If I don't buy this..." How much regret I was going to have, because I'm going to miss out on the story and the thing and all the stuff."
So by him telling his story, the same regret that he was having by selling this book, was the same regret I was going to have if I didn't have the book, which was super fascinating, don't you think? And anyway, Oh, and then there's so many sales lessons I could tell you. It's from this guy, he's like, "I'm a horrible salesperson." But then also talking about status, right?
As he's showing me these books and he's like, "There's a lot of people have three, but there's no one that has all five of these." He's like, "Maybe one or two people on the planet." He's like, "Instantly you'd be one of the top five rare, Mormon book collectors on the planet, if you had this set." And then this, and then...
It was crazy. And I come into this thing, not planning on buying anything just wanting to see what he has to two hours, three hours later, writing one of the biggest checks in my life. But I share it to you because I want you to understand, that is the power of story, right? I always tell you guys, if you're teaching a concept, you have to tell the story about how you learned or you earned it.
If you're selling a product or service or a thing, you have to tell the story about how it was created. The story is the thing that increases the perceived value. I literally went from like, "Here's an old book." Like, "Oh, sweet." To like, "Let me tell the story of the book." And then he got deeper in the story and the meaning and all these kinds of things got to the point where like, "Wow, that's really cool." To like, "Ooh, I really want that." To like, "If I don't have that, I'm going to lose something."
The fear of missing out, of not having that, became so big and so large that I was willing to d…