Tapping Human Psychology In Sales

But what about other products or Sales channels which are different from a supermarket scenario?

Brands do the groundwork of understanding who their customers are, what motivates their buying decisions and try to take the extra mile to stand above their competitors so as to impress the customers. Prospective customers need could be any of the following – A Product(service) that solves their problem or something that improves their standard of living(work), or simply meets their habits or life style demands, etc.Once a product (service) that surpasses all competitors offer (as per the brand) is created, the ball lands in the court of the sales teams who are entrusted with generating revenue by making sales

Now, sales teams attempt to study the pulse of the target audience and their emotional or logical need behind a purchase and ways to cater to it. Here, we listed some references from two famous books that sales teams can count on in tracing the customer psychology and influence them to buy your product.

The Psychology of Selling

– by Brian Tracy

Tracy explains, the desire for gain has a motivational power of 1.0, and fear of loss has a negative motivational power of 2.5. This, when applied in sales, translates to tapping into the customer’s fear of losing the best product available in the market that meets their requirement. Now, it is the job of sales teams to ensure the prospect first acknowledges their product as the best.

Influence

– by Dr. Robert Cialdini

Dr. Robert Cialdini outlines six principles of Sales Psychology that sales teams can include in their sales process.

1. Reciprocity – An internal affliction towards returning a favour. This is majorly the concept behind freebies before membership and a free trial before purchase. So, check out what free E-book or content, entry pass to a seminar or an event suits your prospect’s needs and offer them.
2. Social Proof – When we are uncertain, we look to external validation of a product or a service. Ex: celebrity endorsements, review system for products on sites like e-commerce. Can you provide client testimonials to your prospects?
3. Liking – We have a higher tendency of agreeing with people we already give importance to. This is where referrals, networking and friendly connections come into the picture.
4. Authority – People tend to say yes to individuals who carry great expertise and knowledge in the field. So, ensure you possess and demonstrate expertise in your product – market – and highlight the benefits to your prospects.
5. Scarcity – This principle states that we always want what is less available. Showcase those limited time discounts and trigger the urgency to make a buying decision.
6. Commitment and consistency – Once a decision is made, we tend to work and behave in line with that decision to justify it. When a customer has completed the purchase, retaining them is important using this principle.

Conclusion –

Influencing customers is a continuous process with a never-ending graph. Once a sale is made, sales teams do their best to retain the customer and expect referral clients. The sales team also works on expanding the existing deals with the customers (organic growth or cross sell). Tapping into psychology certainly fuels the chances of success for sales teams and hence it is wise to do it right away.

Hope we could add value to your sales quotient by listing these points.

Happy Selling!