Can You Make More Sales By Making Everything Free?

Continually optimizing your sales machine by using neuropsychology

In his book Predictably Irrational, Psychologist Dan Ariely describes a particularly interesting experiment, in which the factor ‘free’ had a specific result on the ‘sales’ of chocolate.

From the article:
Experiment 1:

A table was set up offering two kinds of chocolates – expensive luxury truffles and much lesser priced ordinary chocolates.

The luxury chocolates were priced at 15 cents and the ordinary chocolates were priced at 1 cent. 73% of buyers chose the luxury truffle and 27 percent chose the ordinary chocolate.

Experiment 2:

Next, they decided to see how the ‘free’ factor would change results. In the next run, both prices were lowered by 1 cent.

So now, the luxury chocolates were priced at 14 cents and the ordinary chocolates were made to be free.

Would there be a difference in results? Should there be? After all, both prices were reduced by 1 cent.

This time, 69% of people chose the free ordinary chocolate (up from 27 % before). Only 31% chose the luxury chocolate (down from 73% last time).

Most people chose to miss out on the chance to get an expensive chocolate truffle at a big discount, when they had the option to get the ordinary chocolate for free.

How can you use this in your business? Let’s get in touch, and we’ll help you get set up in the practical application of neuropsychology in your sales machine. We’ve enabled others to become successful with this – so why not you?

#success #sales #nerdsofhumandevelopment #neuropsychology #free

Read more about this concept here, in the article by Michael Maven.

Use these 5 sales tactics to overcome your fear of rejection

Salespeople are used to hearing “no.” These tactics help them get past that and work toward that yes.

What can you do to turn ‘no’ into ‘yes’ and feel confident in doing so? Which subconscious beliefs are limiting you? And which are helping you? Sales is rejection-heavy, so if you want to be successful in sales, you may have to adapt your tactics. Sales training (skills) could help, but the real intervention on the level of beliefs is much more powerful and effective.

“We’re all in the business of persuading people to do things–sometimes things they don’t necessarily want to do. Is your coworker really happy about picking up the slack while you’re on vacation? Is your sister genuinely okay with you borrowing her car for the weekend?”

The tactics that Jeb Blount states are the following:

  1. Train for rejection like soldiers prepare for battle
  2. Visualize the outcome you want, not the one you don’t want
  3. Try ‘murder-boarding’ before you ask
  4. Learn how to shut up and listen
  5. Instead of an “all-or-nothing” question, ask for a micro-commitment.

All helpful tactics. Let us know how you’ve used these!

#subconscious #beliefs #nerdsofhumandevelopment #sales #salestraining #leadership #development

For the original article, click here.