There is always something about sales and sales psychology that fascinates us. We have to admire that a salesperson’s endless resilience in the face of constant rejection. Sales psychology is the type of process that involves considering the psyche of your target market to sell your products and services.
Every salesperson knows that human beings are not rational economic creatures. Sure, sales are partly about a need, but it also about how a customer feels. Sales is about the emotions created by the circumstances, a customers’ relationship with the product, and the salesperson.
Instead of convincing customers that they need your service or product, you can find a way to market to their current needs. Every customer has different ways of buying products. Many customers buy impulsively and will rationalize the purchase later. Other times, the person uses reason and logic over emotions while purchasing new products.
Sales professionals need to tap into a customer’s emotions to find a way to close a sale. Let's look at some of the best psychology based sales tactics in this article you can use during your sales today:
Arouse and Trigger Curiosity
Curiosity is a powerful motivator in most people. That is because when you add it to your content, it is like creating an itch that your readers need to scratch. The only way they can get to this itch is by taking some specific action, such as joining your list or buying your product, or taking on a trial.
Make people curious about a product or service. Whether it is via an email, blog post, or a sales letter, you can evoke this curiosity at the beginning or even in the middle to keep people reading until the very end.
Being successful at keeping them hooked on your content makes it easier for them to join your list or buy your product to satisfy their curiosity.
Leverage Loss Aversion
Even buyers and customers have a hard time saying no to a good opportunity, especially if they are thinking about what they will lose by turning down the offer. You can tap into the chance of losing out by framing your offer as something they will miss out on if they do not make a purchase, rather than just focusing on the added value it brings.
Try tailoring your pitch to describe the situation as a missed opportunity if the customer does not buy the product or service.
Flaunt Your Expertise to Build Credibility
The more authoritative you are, the simpler it is for potential customers to trust your sales pitch. You should always have complete knowledge of your product or service if not an expert.
You should always be in a position to answer any questions or queries that customers have during the selling stage. If your prospect feels you are unsure or do not fully trust you, they won’t be eager to buy.
Showcase Social Proof
You can build the credibility of your product and service through the power of social proof. After all, we are social creatures by nature, and most people trust other consumers and believe in products that they vouch for.
Usually, popularity signals that something has value. If a prospect knows that other customers love your product, they will perceive your product as valuable and will be more willing to pay. One way to do this is by posting good reviews by your existing customer on your website.
Use Storytelling to Make an Impact
The power of storytelling has the highest impact on sales. Sharing stories of your companies product journey or a customer success story has a more powerful impact than just listing out the benefits of your product.
Storytelling allows you to connect more quickly with your prospects. It also helps your customer to relate to you and the product. Storytelling brings about the release of the trust hormone called oxytocin that builds empathy and connection.
Bring in a Feeling of Reciprocity
When you give a lead something for free, it makes them feel appreciated and instills in them a sense of obligation for you to return. You can offer your customers something free or something as simple as providing an exclusive discount for becoming a new customer.
You can offer to set up a free demo or let them use your service for free for a certain number of days, or provide a special membership discount. It gives the customers time to decide if they want to sign up for a paid account.
Bring out the Fear of Missing Out
You can use the threat of scarcity or the choice of losing the product or running out of the product to your advantage. Even though it is a different tactic than leveraging loss aversion, it is similar to the psychology behind why it works.
The limited availability mindset can apply to services, products, and special offers. This tactic acts by playing off social proof by suggesting that the product can run out due to high demand. Let your potential customers know that a discount or bonus is tied to a specific volume or a certain number of sales after which the discount expires.
By emphasizing that the item will likely sell out fast or that the offer is time-limited, you create a stronger desire to buy than if there were unlimited quantities and unlimited time to buy.
Being likable is a social construct. You are more likely to say yes if you like the person who is selling it. This is why many companies use celebrities are used to endorse their products or brands. Some people will buy a product just because they adore the person endorsing a product.
We buy stuff from people we like quickly. It could not be simpler - we want to bond with the people we like. That is why it is easier to sell to people we actually like. Hence, it is helpful to appreciate and understand all your customers. We are far more likely to make a purchase from people when we have a human relationship based on trust.
Give Fewer Options
Providing your customers or leads with too many options can confuse them and make them not want to choose or buy any products. Instead of pitching all the products one by one, you can instead consider a bundle deal option with multiple products combined together.
Speaking to your customer’s ahead of time helps to know where their interest lies and what their needs are.
Sales is a humongous field, but psychology is a deep, never-ending sea when you explore humans. You can boost your sales by trying out the psychological sales triggers that we have listed out above.
To summarize the above nine sales tactic based on sales psychology here are:
- Arouse and Trigger Curiosity
- Leverage Loss Aversion
- Flaunt Your Expertise to Build Credibility
- Showcase Social Proof
- Use Storytelling to Make an Impact
- Bring in a Feeling of Reciprocity
- Bring out the Fear of Missing Out
- Be Likable
- Give Fewer Options
Every sales deal is different, so the interaction with each prospect should be as personalized as possible. These approaches allow you to focus on a particular opportunity and provide with exactly what the customer needs at each stage.
Once you understand your potential customer’s perspective better, you will be able to deliver better sales results. Always remember that buyers ultimately buy from people they trust, and in sales, trust starts from understanding.