Staff Leverage

Sales Psychology, a key for business success

December 28, 2018

Estimated time of reading: 7 min.
What I’ll learn from this article: The importance of Sales Psychology and how it improves your business model.
Sales Psychology | Staff Leverage Blog 

Have you ever asked yourself why people buy?

If you live in the world of sales, this should be a question of routine to you. The job of a salesperson is to close deals, convince prospects to pay for the product or service they offer. But how exactly do you achieve this?

Many traders can’t find the answer to this question and subsequently get stuck on their selling efforts; even believing they wager with a valuable product, they try but ultimately fail, unable to convert enough leads as to advance their agendas.

Most of the time, they’re not mistaken, the problem is not the product itself but rather the way it is presented. This could happen to anyone at first. Selling is both a science and an art, you need to study it and practice it to achieve mastery.

So to start off, how do you go about studying this discipline? You need to understand now that you’re dealing with other people, you’re trying to sell your benefits to an actual living human. What this means is that there’s not a single, hard-selling method that would work for everyone; each person thinks and acts and responds differently.

“Most people do not listen with the intent to understand; they listen with the intent to reply.Stephen R. Covey

The takeaway from this is that you need to treat each potential customer as a unique case and develop a conversion strategy exclusive for them. Such a tall order might sound daunting, but fear not, because it’s not a hopeless task – in fact, everyone knows how to overcome it already.

We sell to Emotion, we sell Satisfaction

Have you ever felt the irresistible urge to buy something? Do you find yourself purchasing things that you don’t actually need? Like dessert after lunch or another keychain? Have you asked yourself why did you buy them?

Which emotions drive customers shopping and buying decisions? - by SmithSource: SMITH – Exclusive report on emotional drivers of purchase decisions.

For most, the answer would simply be “because I wanted it”. It makes sense. We are all consumers and we consume to fulfil both our needs and desires – and herein lies the secret to successfully closing your sales.

We buy because of what we feel towards a product. Customers buy seeking satisfaction as a result; the more potential satisfaction they perceive when evaluating an option, the more likely it is for them to take the said option.

 We feel first and think second; it goes for everything, including acquiring material goods and contracting services. This is just how our brains are designed to work, and it’s also the point this long philosophy lesson concludes with: Psychology is very important to a business.

Psychology and Sales?

There’s a broad spectrum of tactics dedicated to analysing the patterns and behaviours of customers, trying to understand exactly what makes them ‘tick’ and agree to your offers, providing you the knowledge needed to shortcut conversion into successful sales. The algorithm of such strategies and how to apply them is what we call Sales Psychology.

On really easy terms, sales psychology is simply utilising psychology to sell – bet you couldn’t guess that one, huh? But it goes way deeper than just a definition. It’s everything you can do to showcase your businesses’ products and services in a positive light.

You want to always be at the top of your clients’ mind, have them think of you as a trusty partner and someone who can help them with their every problem, a friend even. Establish an emotional connection between your brand and your customers. Then you’ll channel these feelings into the products you offer, promoting them as the best solution for whatever is afflicting your prospects.

Of course, this doesn’t mean tricking people. You must offer them products of genuine value, the psychology is just applied to help your audience perceive said value. The final goal is to build a community of trust and mutual benefit.

Imagine your brand as the one your audience always thinks of when they need a certain service, they contact you and then you actually deliver with your content and attention. Your clients leave your office happy and glad they asked you first. Then their friends need to buy the same kind of services; you already served them well so they recommend you and allow your business to grow ever bigger, in a never-ending cycle of beneficial exchanges that constantly enrichen your business.

Source:  12 CRM Amazing Charts

As mentioned before, it’s all about giving your customers the highest amount of satisfaction. It’s a commitment to answer promptly to the cries of help from your followers, not an easy task but surely one that will bring you and your business the greatest success.

Closing Deals with the Power of Psychology

But we might be getting ahead of ourselves, the first step is to create that clientele. How do you profit from the psychological aspects of sales? There are a number of tactics you should master in order to maximize your conversion potential.

The most obvious but often hardest method is to understand your target. What does your audience want? How do they want it? Why do they want it? A large number of companies around the world are investing more and more into different departments just for the sake of obtaining more detailed information about their leads – and it pays off.

You can filter your potential customers via different communication mediums, asking them what they need and what they expect from your business. Try and reach out to as many people as possible but don’t forgo talking with them once they’ve shown interest.

There are a myriad of ideas and suggestions for generating quality leads devised around this concept of customer-centric business, which involves quite a bit of psychological sales-fare in their own right, but there are also more general pointers you can start applying right away in your next sale.

You need to make your brand stand out from the crowd. It’s vital that people see your business as “something different”, as this makes them consider you a more promising choice. We live in a heavily competitive world, you can’t just be another seller; make clear to your audience what is unique and worthwhile about your offer.

Think about it, what happens when you see a flock of black pigeons in the park? You may observe them for a brief moment if they’re close to you, but it probably won’t last long or leave any strong impression on your mind.

What if one of the pigeons is gold-colored? You would likely stare at it for a while, asking yourself where could have it came from and how did it get to that park. You might even tell your friends about the pigeon when they inquire about your day.

Differentiation creates intrigue, interest, and remarkability. If your business is exactly the same as the next one it is equally as forgettable; this is a situation you want to avoid at all costs. Use innovative tactics, different channels, renew your image every now and then – by all means, don’t let yourself become more of the habitual noise in your customers’ lives.

Don’t be shy telling your prospects about the benefits your product and services can bring to them, how it will solve their problems and how it is better from the alternatives. In a similar fashion, you can use information about your competitors to increase awareness of your clients if they are weighing where they should spend their money.

For example, ‘warning’ someone about what others might attempt will naturally raise their barriers, making any further action from a competitor less effective while earning yourself trust. Pure sales psychology in a display; false accusations are off the table though. You must be honest and offer customers what they need but letting them decide for themselves in the end.

Sales Psychology | Staff Leverage Blog 

Speaking of decision making, there are a number of psychological triggers you should keep in mind to tip the scales in your favor and pose yourself as the best option. It all begins and ends with how people react to any given call for action.

You’re dawdling in the café, thinking whether or not you should spend a little more and get a cake with your coffee. Then you overhear the waitress behind the bar asking if they’ve got any cake left. You instantly become aware of the fact that cakes are running out, you either decide now or lose your chance. What do you do?

Urgency calls for action. When faced with a decision, people are generally more afflicted by what they stand to lose as compared to what they stand to gain. They’re more prone to choose what they would otherwise lose, even if it didn’t necessarily convince them before.

This is called the scarcity principle, people react more strongly when the object of their unsure desire becomes scarce and they risk losing it. This situation can push a prospect into buying something they would probably let go if it wasn’t limited. Ironically enough, people don’t really mind missing out when they get to choose, but fear being robbed of such choice.

Of course, this tactic is not to be abused. Promoting your services as one-time-only too often can cause a negative reaction among your audience, so you should apply it sparingly. Needless to say, your potential customers need to be interested in your product and service to begin with for this move to work.

On a related note, you may be under the impression that it’s best to offer your clients as many options as possible, but this can, in fact, be detrimental. Studies show that people get overwhelmed when faced with too many options; the advice is to examine the psychology of your lead and bake them a small selection of truly tantalizing alternatives.

Lastly – but maybe most importantly – you need to show authority and expertise in your field when dealing with your clients. By demonstrating prowess and wisdom you can captivate leads, making them feel like they’ve hit the jackpot with your business.

This person will solve my problems”. The more people you get thinking like this the easier it’ll be for your enterprise to grow strong and solid; just like a tree, your influence will spread like branches and its flowers will bloom with the satisfaction of your customers. Water and nurture your professional relationships, learn how to appeal to your audience and deliver with huge value at every deal. Stay confident, sales psychology begins in your own mind.

Do you want to be successful? We know how you can be. For more information on the previous topics and deeper insight into the intricacies of efficient business, see the following articles.

(Links to other Extreme Lead Generation content)

By John Mackenzie – Founder & CEO of Staff Leverage, NT Digital and JohnMac Digital

Do you want to be successful? We know how you can be. For more information on the previous topics and deeper insight into the intricacies of efficient business, see the following articles.

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Hello There, I’m John Mackenzie! CEO at Staff Leverage. An Australian visionary committed to change businesses all over the world.

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