The human brain is striking.
If you can trace the correct path to cause someone’s mind to flip to your way of thinking, you make the sale.
Think about your last impulsive purchase. Why did you get your new iPhone, those $250 denim pants, or your 7th fidget spinner? It was nothing but an emotional trigger set forth in your brain which caused you to have a wish so deeply, you ended up giving in to the emotion.
Every action you perform is based on your psychology. In fact, when you apply psychology to your sales process, you come out understanding far more about your audience, which in turn can grow your business faster.
In this piece, we will be looking at what the psychology of sales truly is and how you can leverage it to close more deals faster.
What is sales psychology?
Sales psychology can be defined as a process that studies the psyche of your target market to sell your services and products. Instead of convincing customers they need your offering, you find ways to market to their current wants and needs. There are a number of ways in which individuals buy a product or subscribe to a service. Some use logic and reason over emotion when purchasing new products. In other cases, the person buys impulsively and rationalizes the purchase later.
Comprehending your customer’s needs and relating to them is the cornerstone of a good sales process. People want to be understood, and being able to relate with them through your brand can increase your probability of making the sale.
Sales professionals can tap into a customer’s emotions as a way to close a sale. A common mistake in sales pitches is focusing on costs. If a sales associate understands the values of their target audience, strategies can be used to show how the product/service stays in line with those values.
The 6 principles of sales psychology
The psychology of selling has been best outlined by Dr. Robert Cialdini in his highly acclaimed NYT bestseller Influence, with six key principles that he highlighted. These principles are reciprocity, commitment, authority, social proof, liking, and scarcity. Dr. Cialdini asserts that each of these principles delves into a person’s psychological responses during a sales setting.
As a sales professional, it is important that you know these six universal principles of influence and how to apply them to become a skilled persuader:
- Reciprocity. An internal pull toward repaying what another person has provided us with
- Commitment and consistency. Once we make a choice or take a stand, we consistently work to behave in line with that decision in order to justify it
- Social proof. When we are unsure of something, we look to similar others to provide us with the correct direction to follow. The more people following that direction or action, the more likely we are to think it is the correct thing to do.
- Liking. We have a higher tendency of agreeing with people we like, and just as important, a higher tendency of others having to agree…
Read More: How You Can Close More Deals Faster