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The latest sales strategies to grow your business.

Selling in Uncertain times. Part 1.

How science can help us sell.

This is really about selling in uncertain times.

Now, when businesses have less money, when there’s less money in the system.  Everybody that makes a purchase.  All businesses want to ensure that they’re getting real value for money, okay.  And what do I mean by real value for money and I think to me, this is about helping them to see that by..

owning your products your service you’re going to help them to have a better future.

Now, although I called this presentation; How to sell in uncertain times.  Really it’s just how to sell. Full stop.

Because no matter what the economy is doing prospects, customers they still need to be able to understand and see how you’re going to help them navigate the future in a more positive and successful way.

Alright, so we’re really covering three things today.

I’m gonna start off with a really fantastic study which is all about;

  1. How we buy on emotions.
  2. The second thing I’m going to talk about is, how we can increase the perceived pleasure of owning your product or service, when you’re out there selling it to your customers or your prospects.
  3. And the third thing we’re going to cover is how you decrease the pain of owning that product or service that you are selling to your customers or prospects.

 

Now, the second two will come into play once you understand, we go through this study.

So, let’s start off by talking about a study that was done back in 2007, so quite a few years ago now called the Neural Predictors of Purchases. And this was a study done by Knutson, Rick, Wimmer, Prelec & Loewenstein.   Now these guys come from Stanford, Carnegie, and MIT, are very eminent professors in their fields.  And what they were interested in doing was looking at the purchase decisions we make as we go through a purchase process, and specifically what they were looking at was our brains.  And they took a lot of volunteers and they put each volunteer into an fMRI machine, and took two pictures.

The first picture they took of their brain, was as they were shown a desirable product or service. They took a picture of their brain. And then as they were shown the price. They then took a second picture. And then they invited the volunteers to say whether or not they were going to purchase the product. And what was really interesting about this study is, sitting in the room watching the brains light up.

These scientists realized that they could tell, before the person before the volunteer even clicked; YES I’m buying or NO not buying. whether or not that particular person was going to buy that particular product or service. So, what they were doing was they were looking at when they showed the product, the desirable product. They were looking to see how much of the pleasure centers of the brain light up.  And then when they showed the price of that product. They then looked at how much of the pain centers of the brain light up. And they came to a very simple conclusion, and the conclusion is this.

If the perceived pleasure of ownership of that product or service is greater than the pain associated with it. In this case price, then we buy.

But, if the pain of price is greater than the pleasure of ownership. We don’t buy.

So they created this super simple formula and all they did to determine whether or not somebody was going to buy that product or service was just looked at the difference between the pain and the pleasure centers, and which one lit up more.

So the whole point about this is when we’re out there selling. We have to make sure that we increase the perceived pleasure of ownership over the perceived pain.

Now there are lots of different types of pain, in their study, they only looked at price. But if we take for example. Let’s say you’re in IT, and you create IT infrastructures for businesses. There’s a lot of potential pain associated with getting you in, in because the pain might be, well I’ve got to rip out my old infrastructure. So that’s going to cause downtime that’s going to cause issues for my people or whatever it happens to be.  Let’s say some pain might be getting you in might mean, letting go some staff, because you’re going to make them more efficient, or retrain staff.   So, there are lots of different types of pain.

And when you’re out there selling what you want to be aware of is, what are the worries concerns or objections that your prospects or your customers might hold, that will stop them buy.  Because whenever you’re talking to anybody, you’re going to light up their pain centers as well as their pleasure centers, and it might not as I’ve said be based around price. But, and most importantly, how do you light up more of the pleasure centers?  How do you get them super excited about engaging with you engaging with your product engaging with your service?

And that is all about my second point, which is around selling to Emotional Desires.  So this is where we’re going next. How do we increase the perceived pleasure of owning your product or service, when you’re out there talking to your customers, talking to your prospects?

 

Selling in uncertain times.  Part 3.

Selling in uncertain times. Part 3.

The latest sales strategies to grow your business. Selling in certain times. Part 3.   What I wanted to just touch on, is how do you decrease the pain of owning your product or service when you're out there, talking to those buyers, talking to those prospects,...

Selling in uncertain times.  Part 2.

Selling in uncertain times. Part 2.

The latest sales strategies to grow your business.Want to learn more about selling to Emotional Desires?  Click this LINK.Selling in uncertain times. Part 2. Increasing the pleasure of owning your product or service. When we sell to these emotional desires, we are...