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.
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?
How will you distinguish your company from your competitors?
Many companies don’t realize they need a sales team, don’t have the expertise to build one, and some simply outsource it but don’t know how to vet outsourced sales companies due to the lack of sales experience. But sales transformation is essential to certain industries and companies, such as publishing and media, marketing technology and advertising technology, software, social media platforms, agencies, health care and insurance.
If you’ve got a sales team, you will need to get them in a position where they’re always ahead of the competition. And yes, technological innovation is a part of that. Do you still sell products and services that everybody’s been selling for the better part of a decade? Or are you innovating constantly?
Products and services need to be updated. It’s important. But it’s not the only competitive edge you can gain. How do your people position themselves in such a manner, that the prospects and clients think: “Wait a minute. This is amazing. This can really move me and my company towards realizing my goals, faster!”? That’s what matters.
Setting up the sales organization is important. This Forbes article lists 5 factors, and we’ll give you one more. As a bonus. The list is below.
Determine whether to outsource or build in-house
Experience is priceless
Use the right software
Get your people trained!
Optimize the Sales process
BONUS: Train your people so they can influence the subconscious decision making process of your prospects and customers.
How far along are you, in building a sales organization that really distinguishes itself from the competitors?
Something we see all too often: Sales people, who claim to want to be successful in sales, are afraid to pick up the telephone and make cold calls, warm calls, and sales calls. And no – it’s not just the millenials who aren’t making phone calls.
This is the situation:
People are afraid to use the phone. But why?
First, there is the fear of rejection. Which is biologically engrained in our systems, and the ‘no’ you might get from a prospect feels as if you’re being excommunicated. It’s not pretty. But! This is something that sales people should actively be seeking out, because it’s. their. job.
Another reason for sales people to not be getting on the phone is the fear of the unknown. Most sales people have never been properly trained how to successfully use the phone in sales. Never had proper training on cold calling, warm calling, rejection and objections, and pitching in a way that makes people go “Hey! That’s interesting! Let’s set up a meeting.”
Is your sales floor silent? No one making calls? You’ll see that in your revenue numbers every month. Let’s get together, and let’s get your sales people trained and successful.
It’s common among entrepreneurs and successful sales people. Wake up early, work all day long, have some times allotted to the family, and after dinner, do some more work. Late to bed, early to rise, with not enough sleep.
Everybody is different, and we think that makes the world a more interesting place. However, some habits have a detrimental effect on your health, your productivity, and thus your success.
There are some neurological issues that come along with having a night owl sleeping rhythm. Luckily, the health issues that researches see with night owls can be changed – if the habits are gradually changed.
Are you a night owl? Or are you a morning person? And how do you see it affects your productivity and success? Let us know!
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:
Train for rejection like soldiers prepare for battle
Visualize the outcome you want, not the one you don’t want
Try ‘murder-boarding’ before you ask
Learn how to shut up and listen
Instead of an “all-or-nothing” question, ask for a micro-commitment.
All helpful tactics. Let us know how you’ve used these!
The story of Lisa Renshaw is a tale of grit, perseverance, and having a solid and loyal customer base that saved her business.
Imagine you’re having a successful business, but the city you’re operating in turned down your bid. That bid was essential for the survival of your business. What do you do? How do you ‘fight back’?
Lisa Renshaw “fought back by asking her customers for help. They signed petitions and made phone calls. Customer loyalty enabled her to overturn the lower bid.” Her customers saved her bid, and thus saved her business.
What can you learn from Renshaw? How are you treating your customers? How happy are they, with your company, your people, and the service you provide? Would they petition for your survival?
Travis Bradbury states: “Some people, regardless of what they lack—money, looks, or social connections—always radiate with energy and confidence. Even the most skeptical individuals find themselves enamored with these charming personalities. These people are the life of every party. They’re the ones you turn to for help, advice, and companionship.”
Basically, their self-worth comes from within and does not need to be validated externally. However, other characteristics make them even more irresistible.