The Psychology of Selling

How to Make Money in 2024

Author

Millionaire Syrup
February 10, 2024

The Psychology of Selling

How to Make Money in 2024

Drop The Enthusiasm

Sales people should tone down the hype and ditch the over-the-top excitement when dealing with potential customers. Why? Well, it turns out there's this psychological thing called Reactance, where if we come on too strong and try to push people in a certain direction, they naturally resist and pull away. 

Instead, it's better to be authentic and genuine, letting your true self shine through. That way, you'll build trust and connect with prospects on a deeper level.

Stop Pitching

According to the latest sales data, one of the main reasons why potential customers decide not to work with a salesperson is because they feel like the salesperson doesn't truly get their needs.

Your prospects want to have a meaningful conversation where they can talk about what's happening in their world and what truly matters to them. It's all about engaging them in a genuine and personalized way.

 

Use Feedback Loops
When you're presenting or having a conversation with prospects, it's crucial to make it a two-way dialogue. One effective way to do this is by incorporating feedback loops. These are little questions you can ask during the conversation to keep your prospects engaged and involved. If you ever catch yourself talking for too long, just pause and ask something like, "Does this make sense?" or "Do you see what I'm saying?" or "Does that work for you?" This way, you ensure that your prospects are actively participating in the conversation and that you're on the same page.

It’s About Them, Not You

Forget about talking up your products or services or how amazing your solution is. What really matters to your potential customers is themselves. They want to know if this conversation is worth their time and if your solution can genuinely help them solve a problem they care about.

So, make it all about them! Understand their concerns, ask about their challenges, and show that you genuinely care. When they see that you're focused on them, they'll be more engaged in the conversation because people love talking about themselves and what matters to them. By shifting the focus to them instead of your offering, you'll become much more effective.

Budget Comes Later

This is one of the most important elements in the psychology of selling. The budget conversation should come at the end of the discovery process, after you've thoroughly understood the challenges and the entire issue at hand.

By waiting until later in the process and after building a strong connection and demonstrating value, you can ask a question like, "Based on what I've heard about the challenges, a solution could range from $10,000 to $50,000. Where do you see yourself fitting within that range?"

This approach allows you to provide a budget range while ensuring that you've established a solid connection and highlighted the value you can offer.

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