What is Sales Psychology?
When was the last time you purchased a product or service, did you rationalize the purchase, or was it more of an emotional decision? You may be surprised to learn that the majority of people buy with emotion when making a purchase decision and then later rationalize their decision.
Knowing this and many other psychological reasons why sales work (and don’t) will help you enjoy a long career as a successful salesperson, regardless of what you’re selling. Be it physical product, intangible product, or service.
- Note
- There are so many aspects to the psychology of sales, that volumes upon volumes are written on the subject. It is a good idea to study these tomes, but here, we will provide a general overview of what sales psychology is.
The first thing to do is to know your audience. Who are you selling to? What keeps them up at night, where does their pain occur, and how does what you offer help ease that stress and pain? Really getting into your customer’s mind and how they think will give you the key elements for a successful sales pitch when you finally get their attention.
The person you are selling to needs to know that you understand what their problem or issue is. As humans, we need validation, understanding and care. Addressing this in your sales copy, or your sales script, will help make it more effective, resulting in more conversions, and a distinct advantage over your competitors.
Don’t be afraid to address your ideal client’s fears in a way that will wake them up! Sometimes, your buyer is more afraid of what they could lose than what they could gain. Use this tip to your advantage when talking to clients.
The perception of your customer is key.
How they view you whether they trust you or view you with suspicion will make or break your sale. So don’t just try to act believable… actually be believable. Don’t just try to act like you care…you need to really care.
In our current societies, we are being marketed to almost every waking minute of the day. By paying attention to the key aspects of sales psychology, you’ll find that you get a warmer reception, that you sell more of what you’re offering, and that you’re more likely to sell it. Satisfied.
How is psychology used in sales?
Sales psychology is a process that involves considering the psychology of your target market to sell your products and services. Instead of trying to convince customers that they need your product or service, you find a way to market to their existing needs and wants. There are different ways people buy products. Some customers buy on impulse and rationalize the purchase later. In other cases, the person uses logic and reasoning more than emotion when buying new products.
Sales professionals can tap into customer emotions as a way to close the sale. A common error in sales pitches is focusing on cost. If the sales associate understands the values of his or her target audience, strategies can be used to explain how the product (or service) lives up to those values.
- How to Get to Instagram Marketplace: How to get clients on Instagram
- How to Make a Business Plan: Top 6 Building Blocks
- What are Financial Markets: Types of Financial Markets
- MEIZU 21 Smartphone Specifications: A Unique and Beautiful Smartphone
- What is Foreign Exchange Market
How psychology is used in selling
Robert Cialdini outlined the psychology of selling in his book Influence, which highlighted seven important principles. These principles are:
Each of these principles explores a person’s psychological responses during a sales setting. There’s more on each here.
Mutual support
For reciprocity, the focus is on the emotional need to give something back after having received something. Think of it like returning a favor: If your company goes out of its way to do something nice for a customer, the customer may be motivated to make a purchase in return. For example, if you’re given a free sample of a product, you’re more likely to buy it in return.
Determination
Commitment refers to the need to make a change in your life. The person may want to quit smoking or lose weight. Marketing efforts prove a person’s need to be committed to their goals. This approach is useful because, in order for a person to stay committed, they may need to use your product consistently. Emphasize this consistency in your marketing to encourage repeat purchasing.
Like To
Liking refers to buying a product due to a positive emotional response to the person selling it. This is the reason why many marketing campaigns use celebrities in their advertising. It’s also a good reason to make sure that your sales and customer service associates and representatives are friendly and accommodating.
The Power
For authority, the buyer is persuaded by individuals known to be experts in their industry or by industry authorities. For example, many advertisements for toothpaste state that the product is endorsed by dental associations and that it is a brand “trusted by dentists.”
The Social
Affiliate marketing campaigns focus on meeting a need in the community. For example, an advertisement can be targeted to fans of a particular sports team. Another example would be a gym that advertises its group classes as social gatherings rather than workouts.
Shortage
With scarcity, the main motivation for the buyer is the fear of missing out on a unique opportunity. That’s why sales copy often uses phrases like “limited time offer.” A person who misses the offer may later regret paying a higher price, so limited-time offers can lead to increased sales.
Union
Coalition marketing campaigns focus on meeting a community need. For example, an ad can be targeted to fans of a particular sports team. Another example would be a gym that advertises its group classes as social gatherings rather than exercise.
Other Principles of Sales Psychology
According to this rule, we’re more likely to say yes if we like the person selling it. This is the reason why many celebrities are used to endorse brands. Think of all the fans who will buy a product because they like the person who endorses a product. If you can’t afford a celebrity, try telling a personal story on your website’s About Us section.
Principle of site assignment
According to this rule, if you get a gift, you feel compelled to give back. Often times, a customer buys something because they were given a free sample. Giving someone a gift when they buy has a twofold effect. They are happy to receive it, and they often feel compelled to buy more as a result of receiving it.
Definitions
People are very busy in their lives and rarely find time to appreciate someone else. Try to appreciate your buyer.
- Tip
- Complimenting your buyer can surprise them and make their day in ways that can increase the likelihood of a sale.
Be relevant
Get in front of your buyer via email marketing campaigns, text message marketing, newsletters and any other means you can. do not spam them; No one likes a ton of junk email. If you are not careful, they will send you to spam land. Measure time, content and value of messaging. How do I specify the value? If I get information that I can use in my world, then that is valuable.
Social evidence
All of us are social creatures. We often look at what others are saying and doing before making a purchase decision. This is exactly why client testimonials and case studies are so powerful. In today’s sales environment, video testimonials have become extremely popular. A satisfied customer is 10 times more influential than the sales of your product or service. Try these techniques to increase your awareness, likability and originality in today’s sales landscape.