The Psychology of Selling

The Psychology of Selling

Date: On Demand (access any time)
Investment: $285 per person
(Discounts for multiple participants)

INCLUDES: One-on-One Telephone Coaching

One of the most important weapons you have in your arsenal as a salesperson is the ability to understand how your customers think. You would also want to understand what motivates people to buy a product or a service.

As a salesperson it is important for you to understand the psychology of your customer or what makes them tick. When writing your sales copy, designing a sales presentation or   writing out a sales pitch these are the crucial tips to keep in mind.

In this podcast we will talk about:

  • How your customers make decisions emotionally
  • How they justify these decisions emotionally
  • Why you should remember that customers are egocentric and how to use this to your advantage
  • What customers really look for in a product – here is a hint, it’s not the price of the product
  • Why customers identify with the ‘human’ aspect of your sales pitch
  • Lastly and most importantly – the real reasons customers buy the things that they do.

1. Customers make decisions emotionally

Customers decide based on a feeling, need or emotion, not a through a logical thought process. If this was the case we would all drive exactly the same type of car—the type that takes us from point A to point B in the shortest possible time and with the shortest possible cost etc.

Instead we buy cars based on how they make us feel—powerful, happy, excited or based on a need (to drive around your 4 kids and all their friends) or based on an emotion—you always wanted that car as a child and it makes you feel nostalgic when you drive it. When you are developing your sales pitch you should ask yourself “what is the emotional hot button here”, “What feelings, emotions or need can I speak to?”

2. Customers justify decisions with facts

Example: a man sees an advertisement with a photo of a sports car and instantly falls in love. However, he can’t bring himself to buy the car based on a feeling, so he reads the copy for technical details about the powerful engine, safety features, and low maintenance costs. He wants the car because it makes him feel good. But he buys it only when he can justify the purchase rationally.

As a salesperson it is crucial for you to first appeal to the emotion/feeling or need that your customer has and then follow it up with enough information about your product or service so that he can justify making this purchase. This is why knowing the technical details, features and benefits of your product are crucial for you as a salesperson.

3. Customers are egocentric

The word “egocentric” means centered around the ego or self. We all see the world in terms of how it relates to us personally. So when your copy asks someone to do something, it must also answer the unspoken question, “What’s in it for me?”

On a deeper level, the question might be “How does this give me feelings of personal worth?”

4. Customers think in terms of people

The human brain is not a computer, calculator, or information processor. Scientists have shown that its primary function is to deal with social interactions. Remember how some mathematical questions in high school were stated as real-life situations? They were always easier to understand and solve than abstract problems.

Your copy, therefore, should feature people through names, personal pronouns, quotes, testimonials, stories, photos of satisfied customers, etc.

5. Customers look for value

  • Value is not a fixed number.
  • Value is relative to what you’re selling, what others charge, what the prospect is used to paying, how badly the prospect wants it, and how the prospect perceives the difference between your offer and others.
  • You must demonstrate a value that seems to be equal to or greater than the asking price. The greater the value relative to the price, the more likely people are to buy.