The Science of Selling for marketeers
Proven Strategies to Influence Decisions, and Close the Deal
Close the deal!
This approach digs into social psychology, neuroscience, and behavioural economics to uncover powerful methods to influence others.
Salespeople are more effective when they understand what’s happening in a customer’s brain.
After all, if you understand what a buyer is thinking, you can tailor your pitch more effectively to their needs and desires.
Understanding the science of sales will improve your performance
Regularly we think of sales ability as a static quality, you either have it or you don’t. But science tells a different story.
Neuroplasticity
It is the ability to rewire our neurons to develop new skills and it lets us improve our natural talents over time.
Our brains are amazingly adaptable!
So, rewire your neurons!
Here are some techniques for boosting sales uncovered by research:
Asymmetric dominance effect
This phenomenon dictates that customers are more likely to buy when presented with only two options – one good and one great.
Why? Because having a good option makes the great one seem even better!
Reduce your options!
In an experiment, social scientists Sheena Iyengar and Mark Lepper arranged a tasting booth of jams at an upscale market.
When they presented 24 jams, only 3 % of customers made purchases. But when the array was reduced to six jams, sales shot up 900 %.
It turns out that the human brain is better at making decisions when there are fewer options to choose from.
“Anchoring”
This psychological phenomenon occurs when you unconsciously compare new information to old information.
For example, a $30 bottle of wine may seem expensive. But if you’re first offered a $500 bottle, that high price becomes the anchor. Suddenly, a $30 bottle seems like a great deal!
You can apply this concept to your next sales pitch by presenting expensive anchors – perhaps from competitors – before you reveal the true price
“Narrative paradigm”
This psychological phenomenon refers to your brain’s natural tendency to be swayed more easily by stories than by plain facts.
A compelling story can bypass your critical thinking faculties and tap directly into the emotional part of your mind.
So, when crafting your next pitch, present your offering within a narrative framework. Rather than just giving a dry list of details, introduce a character, a conflict, and a resolution. \
For example, you could talk about previous clients. First, explain what issues they faced. Then, tell the exciting tale of how your product or service helped them out.
The decision of buying a product isn’t the result of a single choice. It’s actually the final outcome of a series of six choices:
Answer the Six Whys!
Why change?
Why now?
Why your industry?
Why your company?
Why your product?
Why spend the money?
1.Why change?
Explain what’s lacking or undesirable about the buyer’s current situation.
People need to feel that any change is justified.
2. Why now?
Explain why buying makes sense at this specific time (ex. temporary discount, another factor that creates urgency, etc.)
