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All buying decisions are emotional. In fact, everything you do is 100 percent emotional. The rule is that people decide emotionally and then justify and rationalize your decision once you have made it. When you say that you are going to do something because it is the “logical” thing to do, all you are saying is that you have more emotion invested in that course of action than in another.
People decide emotionally and then justify logically.
Human have a wide variety of emotions. But it has been discovered that the strongest emotion operating at any particular moment will determine how an individual decides and acts at that time. For example, a person may have a desire for the improvement that your product or service offers. But his fear of loss or of making a mistake can be more intense than his desire for gain. If this is the case, he will refrain from buying. The stronger emotion will always win out over the weaker emotion.
Increase Buying Desire
The only way you can overcome the negative emotion of fear of loss that will block a sale is by increasing the positive emotion of desire for gain that will trigger that sale. Everything you do or say that increases the intensity of buying desire moves you closer to the sales. Simultaneously, everything you do that lowers the fear of making a mistake, or loss, moves you toward the sale as well.
Reducing Fear of Loss
Marketing guru jay Abraham has helped companies sell hundreds of millions of dollars’ worth of products by convincing them of offer unconditional guarantees of satisfactiona on everything they sell. He is famous for recommending that you give a “better than money-back guarantee.” In this type of offer, the customer is promised that not only will he get his money back if he is not satisfied, but he will also receive, or be able to keep, certain special bonuses and gifts that have considerable perceived value.
In one of our businesses, we offer a complete one-year personal and professional development program on entrepreneurship and financial success. The course runs over fifty-two weeks. We guarantee that participants will be delighted with the results, or they will get their money back. In addition, they will be allowed to keep more than three thousand dollars’ worth of books, tapes, and video training materials that accompany the course. This is a very powerful offer.
Wanting to Think It Over
When a prospect says that he wants to “think about it” for a while before deciding, he is really saying one of two things about what you have offered him: First, he could be saying that he has no real desire to own and enjoy what you are selling. For some reason, you have not “connected” with him at such a level that he is convinced he will be better off with the money that it would cost.
The second reason that a person may hesitate and put off a buying decision is because he is not sufficiently persuaded that he will actually get what you are promising. He is saying that you have not given him enough emotional reasons for him to make a buying decision. His fear of loss or of error is still greater than the potential benefits from your offering.
Focus on Value
In the process of value selling, you put all your emphasis on repeating and explaining the values and benefits that the prospect will receive if he buys what you are selling. Instead of reducing the price or offering a special deal of some kind, you focus your efforts on building value. It is only when the customer feels that the value he receives is greatly in excess of the cost that he will have to pay that a buying decision takes place. Always focus on greater value rather than lower price.
Reword Your Approach
This sales professional was making the mistake of trying to sell on the phone, rather than just getting an appointment to sell. I suggested that she try prospecting a little differently: “The next time you make an appointment, call up and ask to speak to the person in charge of administration. When you get through to him or her, say these words: ‘Hello, My name is Arshad, and I’m with ABC Company. We’ve developed a process that can save you 20 to 30 percent of your office administration costs. It would take me about ten minutes to show you how it works, and you could decide for yourself if is the sort of thing you are looking for.”
She told me later that this simple change in her approach enabled her to get all the appointment that she needed. Her sales double and tripled. She was soon making more money than she had ever earned before.
Talk About What They Want
The reason for this result, which thousands of salespeople enjoy once they understand this principle, is simple. People are not interested in office automation products, computers, servers, wireless communications, cell phones, or anything else. Businesspeople are interested in making or saving money or time. They are interested in getting better results and increasing profit.
There are only two ways that a business can increases its profits. It can increase its sales and revenues, holding costs constant, or it can decrease its costs, holding revenues constant. Whatever you are selling, you must describe it in terms of how it either increases revenues or cuts costs, or both.
If you are talking to someone who is in charge of administration, he is interested in cutting costs. If you are talking to someone in marketing or sales, she is interested in increasing sales and the resulting income. If you speak to the person who owns the company, he wants to improve the bottom line. You must always talk about your product or service in terms of what the customer wants, not in terms of what you are selling.
Uncovering Basic Needs
The key to conducting a basic needs analysis is to question skillfully and listen carefully. The very best salespeople dominate the talking. The more you ask questions and listen patiently and attentively to the answers, the more the customer will open up and talk to you.
People think about themselves most of the time. All day long, no matter what is going on, people are thinking about their own problems and concerns. What is most important to each person is on the top of his mind. When you ask questions and listen carefully, you trigger these thoughts and concerns. They then come up in the conversation.
The Person Who Asks Questions Has Control
As a rule, the person who asks question has control. The individual who is answering the questions is controlled by the person who is asking them. Whenever you ask a question and listen attentively to the answer, you are controlling the directional flow of the sales conversation, which is as it should be. Whenever you are talking in response to a question from the prospect, the prospect has taken control of the conversation.
If a prospect asks you a question, rather than answering automatically (which most people do), pause, take a breath, and say, “That is a good question. May I ask you something first?”
In other words, you acknowledge the question. But you then ask a question of your own and take back control of the conversation. When you do this a couple of times, it will become so natural and automatic that the prospect will never even know what happened. And you will be back in control.
Position Yourself Properly
The very best salespeople today see themselves more as consultants and advisors to their customer than as salespeople. As a consultant, your job is no help the customer solve his problems with what you are selling. The very best sales consultants focus all of their energies on identifying the most pressing problem that the customer has that their products or services can solve. He then concentrates all of his efforts on convincing the prospect that he will definitely get the solution that he most wants.
Position yourself as a friend rather than as a salesperson, as an advisor rather that as someone who just wants to make a sale. See yourself more as a helper than anything else. Take the time to fully understand the prospect’s needs, and then help the prospect to understand how and why your product or service will satisfy these needs better than anything else.
Learn and Teach
Position yourself as a teacher. When you ask questions, you learn the customer’s needs. When you talk, you teach the customer how he can most benefit from what you are selling. When you approach every sales situation as a friend, an advisor, and a teacher, you will dramatically lower the stress involved in competitive selling. You will radically reduce the likelihood of failure or rejection. Both you and the Prospect will feel more comfortable and relaxed.
When you approach every sales situation as a friend, an advisor, and a teacher, you will dramatically lower the stress involved in competitive selling.
This Article is taken from The Psychology of Selling
Written by Arshad. A