Psychology plays a huge role in sales, here are a couple of commonly used techniques:
Reciprocity – Sometimes when selling, a common trick is to give your potential customer something free, a free sample “no strings attached.” The psychology behind that is known as the principle of reciprocity: when someone gives us something we feel compelled to give something back in return (ie: you go to the same Costco sample booth 4x then you feel like you have to buy the product, whether you want to or not).
Warby Parker is another example. You may order those 5 samples just for fun, but the minute you open that box you are more committed than you think (50% of the way to making a sale to be exact).
Liking – principle of liking says we are more likely to say yes to a request if we feel a connection to the person making it. Ever wonder why the lady at the Costco sample stations are always so friendly? This goes for celebrity endorsements of products too!
Novelty – Humans love novelty. University College in London did a study that found that, “Neurologically it has been demonstrated that exposure to something new and unfamiliar increases the release of dopamine in the brain.” There is reward waiting just around the corner. Why do you think there is a new Apple iPhone or iPad released so often. The differences are often minuscule, yet people line up at the doors for every update.
BoweryJE22
How does the Novelty play into an actual sale though? Is the point just that sales fokl need to emphasize the different, or new aspects of the piece? This tip seems more to me like it would be helpful for inventors or those who are developing products, not a salesperson.
I see the connection between reciprocity, liking, and novelty in the making of a sale. Reciprocity is compelling the buyer to take a step in towards the final sale. Liking is building a trust between buyer and seller. Novelty is a way of promoting your product to the seller. Just like trust needs to be first established in the making of a sale, so does the novelty or in other words, value, that needs to come across to the buyer.
This is a nice psychological thought about sales. When you are in the sales situation, most people do not think of things like that. They just end up telling the customer more and more information in the hope that it will help them to make the sale. To see only three of the physiological tactics that can be used in a sales situation open up your mind to all of the different ways and tactics to get a sale.
There is definitely a strong element of psycology involved in the sales process. It is important to make a connection with the prospective customer, in order to attempt to close the sale. If the salesperson is able to connect with the prospect on an emotional, psychological level, and build a sense of trust, they may be more likely to close the deal.
I believe that novelty is the biggest and most significant factor out of this list. Everyone is always searching for the newest and most innovative product. However, sales people need to learn how to present such products in a new refreshing way that engages consumers. Trends are always changing and it is vital that salespeople keep up with the times and get a head of changing trends.
It’s amazing how much of sales is psychological. This is easy to forget under the pressure of a sale–we often start talking too much, telling rather than selling, or doing something else off-putting that could have been avoided if we prioritized the buyer’s state of mind. I especially like the point about likability. It’s one of the hardest aspects of sales to master, but incredibly rewarding.