Whether you consider yourself a salesperson or not, it is good to know that as human beings, interacting in society, we are constantly selling. Selling our ideas, selling our political views, selling ourselves to the person we are dating, selling ourselves at a job interview, and ultimately, selling products and services. Learning about the psychology of selling is imperative to increasing your company’s sales.
Brian Tracy, the author of “The Psychology of Selling: Increase Your Sales Faster and Easier Than You Ever Thought Possible,” believes that “The only real creators of wealth in our society are businesses,” and “Salespeople are the most vital people in any business.” Tracy continues, “Without sales, the biggest and most sophisticated companies shut down.”
The psychology of selling is merely the process of studying the psyche of your target market to sell your services and products. Such a study and observation require several skill sets that are crucial to any successful individual and helpful in other aspects of life including our personal relationships.
In other words, if you can find a way to influence other people’s way of thinking to match to your way of thinking, you make the sale. The psychology of selling is the power of persuasion.
Some of the soft skills expected from a good salesperson are as follows: confidence, resilience, active listening and effective communication skills, empathy, emotional intelligence, integrity, persuasiveness, and more…
Now you see why it is important to improve these skill sets even if you don’t consider yourself a salesperson. The skills you learn from the psychology of selling can improve all aspects of your personality and have a positive impact on your interactions with others.
Now that you are convinced that being a good salesperson is crucial in life, here are 7 tips on the psychology of selling to help you get there. Keep these in mind next time you are selling and be amazed at the outcome of your sales pitch:
Lesson #1: When people buy something, they usually buy it for one of the following two reasons:
Because it brings them joy
Because it solves a problem
Nearly every purchase we make falls into one of these two categories.
Here are a few examples so you can see what we mean:
Designer Bag: brings Joy
A bag of any brand: solves a problem
Tesla: brings joy
Used car: solves a problem
Designer Sunglasses: brings joy
Off-brand sunglasses: solve a problem
Knowing this mindset is key to identifying the purpose for which people would buy your product.
Would they buy it for the joy of it or because it solves their problem?
Lesson #2: People think of themselves.
This is because people are self-absorbed. They want to hear how smart, intelligent, or attractive they are.
When selling, you need to be sure to compliment them in an authentic and insightful manner. This is important whether you are selling 1:1 or 1:many.
Make them feel seen and heard, and practice active listening skills when you are talking with prospective clients.
Lesson #3: People like to be challenged.
One of my favorite sales books of all time is The Challenger Sale by Matthew Dixon and Brent Adamson.
He did one of the most comprehensive studies for this book. He categorized salespeople into 5 different cohorts and his studies showed that “the challenger” was the most successful type of salesperson.
‘The Challenger’ is a type of salesperson that teaches their prospect, tailors their sales process, and takes control of the customer conversation.
So next time you are selling, don’t be afraid to challenge a buyer or take control of the sales timeline.
Lesson #4: People love to learn.
Because people love to learn, teaching is the key to selling. You can’t just tell your audience why your product or service is the best, you have to teach them why.
That’s why creating educational email campaigns that teach your audience about your topic and your industry converts so well.
Lesson #5: Word of mouth is more powerful than you think.
Can you think of a time when you purchased or saw something that you absolutely couldn’t resist sharing?
Maybe you had an interaction with a customer support team and were blown away by the support you received. As a result, you felt compelled to share your experience with all your friends.
The point is that these experiences didn’t happen by accident. They were designed to be a trigger. The result of the experience was designed to be shared.
No matter what you are selling, make sure your service/ product creates a trigger for it to be shared, and then sit back and enjoy the power of “word of mouth”.
Lesson #6: People are more likely to buy when it is their idea vs. yours.
People don’t like to be told things. So it is important to avoid telling and pushing during your sales pitch. You will have a better chance if you make the “purchase” their idea not yours.
The best way to accomplish this is to guide your prospect/consumer in the direction that you want them to head by asking questions.
Lesson #7: People like a taste of what is to come.
Who doesn’t like product samples or food samples at Costco? Studies have shown that giving away samples yields a very high return on investment. In the digital space, samples are very easy to replicate. Teaching and providing value to your audience is the best way to do this. The end result is the consumer saying, “If their free content is this great I can’t imagine what their paid content looks like.”
The bottom line is GIVE, GIVE, GIVE before you take.
We would like to end with this quote from Mark Hunter:
It is not about having the right opportunities. It is about handling the opportunities right.