3 Psychology Tips For Closing More Sales

Psychology in sales has come a long, long way. Don’t believe us? Just look back at John H. Patterson and the sales strategy of the National Cash Register Company. This was the first instance of ‘Pyramid Selling’, where a business owner would purchase Patterson’s cash register then demonstrate his cash register to other owners within a certain territory and sell them on the item as well.

Patterson’s system was complex: it calculated quotas and commission rates and means of uplifting uninspired sellers. Of course, Pyramid Selling has a whole other reputation these days (for good reason). 

In comes the early 1900s, when Grant Nablo convinced the sales world that you can determine the difficulty of a sale by observing the shape of a prospect’s forehead. And no, we didn’t make that up. In fact, in 1923, the Ford Motor Company adopted that theory. They went as far as to include it in their sales training: “Sell the vehicle according to the shape of the prospect’s head”. 

While these ways of thinking are misguided, to say the least, the fact remains: developing successful habits is the key to closing sales.

Let’s take a look at some not-quite-as-controversial tips that’ll help you sell to prospects no matter the size of their foreheads.

Tap Into Loss Aversion

Even as toddlers, human beings (mostly) never want to feel as if we’re missing out on something, particularly something good. This is why positioning your product as not just something of value, but as a potentially missed opportunity (if the customer doesn’t buy) remains one of the powerful psychology techniques in the sales world.

Check out this article and learn how you can leverage loss aversion to land more sales.

Be Generous With Value

A lot of people make the mistake of thinking that giving away value is bad for business. And yes – that can be true in extreme cases. However, you want your prospects to feel a sense of reciprocity when dealing with you. Who would you be more inclined to trust: the sales guy who is tight-lipped with nothing useful to share? Or the advisor who displays authority by having faith in his abilities and is generous with his knowledge and expertise?

Fewer Options Are Better

Never overwhelm customers with too many options. Instead of throwing everything at them during your pitch, try speaking with them before your meeting to get a feel of what it is they need, what their interests are, etc. If appropriate, you can offer a bundle deal option.

Check out this article for a more detailed breakdown of the different psychology techniques you can implement to elevate your sales game. 

Read the full breakdown from gmass here.

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