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How Knowledge of Psychology Helps Increase Sales: Basics All Entrepreneurs Must Know

Basics All Entrepreneurs Must Know - How Knowledge of Psychology Helps Increase Sales

How Knowledge of Psychology Helps Increase SalesBasics All Entrepreneurs Must KnowIn sales, it’s not only the quality of your product that is important but also how well you understand the customer and know how to correctly identify their needs. This is where sales psychology can help you.

Know Your Customer
Understand who your target audience is and build your strategy accordingly. It depends on whether you are selling goods or services, food or non-food items, short-term or long-term goods, the price category of your product and other parameters. The specifics are, among other things: whether you need to consult with the seller when selling this product, what knowledge the seller should have, how long it takes to make purchase decisions.

All this will affect the appearance of the seller, and the tactics of the conversation with the client. You can’t compare the methods of sales and the appearance of the seller at the food market with the sales of complex and expensive technical devices. For example, a fishmonger will be different from a car dealership salesman, and it wouldn’t even occur to us to swap the two: we will hardly see well-groomed young men in white shirts behind the counter in a fish stall or in a supermarket with a million-dollar daily turnover.

Understand Each Individual Customer
The same is important when communicating with a specific client – you need to determine who is in front of you. Usually the first impression here works 100%. For example, someone with too much choice will most likely scare away, the person won’t know what to buy – this person will be glad if you recommend something specific. And someone, on the contrary, wants to thoroughly compare all types of sports offers before they start to try to play casino games in Nigeria. This person should be given the opportunity to try everything with no need to spend much.

Determine the reason for making a purchase, both general (for example if the person came to the bridal shop – this means he is likely to get married soon, in a fishing store – this means he has a hobby, in a supermarket – he wants to buy food), and more personal (buys it for himself or as a gift, at what price category he counts, does he need this product urgently and so on).

If we buy something for personal use, the seller must clearly understand the self-esteem of the buyer (because not always people treat themselves with love) and the importance of this purchase. A lot of people, mostly men, tend to save “on themselves” – so an experienced salesperson must determine the importance of the purchase to the buyer. How do you do that? For example, to clarify the reason for the purchase: to understand whether they buy for themselves or as a gift, and in the second case – to find out from the buyer the purpose of the gift and the object (to whom we are going to give it).

In addition, an experienced salesperson will be able to determine the importance and significance simply by the behavior of the buyer. There are three options for motivation – “I want it!”, “I need it!” and “let it be!” In each case, the salesperson needs to behave differently.

Here’s an example of the “I want” option: a man is into hunting and buys himself a gun. The seller needs to determine the following factors that will influence the purchase: how much passion, what make and model is needed, the buyer’s status, the importance of the purchase (how will hunting friends appreciate it), the amount of money possibly spent. And then offer an option based on the price to quality ratio suitable for this particular buyer, as well as a clear definition of the user’s status.

Option “Necessary.” There are options here as well. For example, if the product is chosen meticulously, then the decision to buy will always be made consciously, thoughtfully and not immediately. Then the seller’s task is to immerse himself in the buying process and feel in the buyer’s shoes. Here, too, it is necessary to figure out the reason for the purchase, the important characteristics for a person, why they need the product, if you are buying a gift – who it is for.

Option “Let it be” is quite difficult. This, for example, is an impulse purchase or a bargain purchase. Then the buyer will be attracted to a good discount or additional bonuses.

A Big Deal Is Also a Sale

The same works if it’s a larger negotiation of a major deal. It is necessary to make it clear or explain to the other person why he needs it, and what he will get from this deal. It’s best to clarify the interests of the negotiators right away – and to understand what each of them will get if the deal is done, or what each of them will get if the deal fails.

Modern business has long gone beyond “buy and sell”. Today, everything is about building relationships, and a successful deal is a kind of mutual gift contract.

Psychology works here, too. For example, if your client receives an unexpected gift or benefit before he has paid you money, he begins to feel grateful to you. And they are more likely to want to return the favor.

Understand how you can benefit the customer before they have paid you money. The gift should be unexpected and not seem like a cheap marketing gimmick.

For example, in retail company “A”, all regular customers who have made more than five purchases are given a black mark. The black mark is a flyer for a free service that the customer can pass on to friends and acquaintances. The result – the number of customers increased by 30%, more than 75% of them made repeated purchases.

Many business leaders now use such an indicator as “the cost of customer acquisition” – how much money and time it takes until the customer pays for the service and buys the product. After calculating this indicator you will immediately begin to understand how much money you can spend on the product, its production, marketing, and PR.
Be Friendly and Persistent

What qualities are important to understand the customer, in general, it is clear from the previous paragraph. Two important qualities for a salesperson are benevolence and persistence.

Benevolence and love of people really work in sales. You need to understand what kind of person is in front of you and what he really needs, which means a benevolent interest in the buyer, a sincere desire to understand what exactly he needs, empathy and the ability to stand in the other person’s shoes. So the ideal specialist is a person who loves people, or rather buyers as people, with their strengths and weaknesses.

The seller’s insistence should be based on unconditional self-confidence (but without insolence). You can’t even think about the idea that the negotiation process will be derailed and you won’t reach an agreement. In general, it is important for the seller to be confident in himself and his product, he must have an irresistible desire to get results – but without pressuring the buyer.

Don’t Impose and Don’t Be Indifferent

The main mistakes of a salesperson are indifference, on the one hand, and obtrusiveness, on the other. And here, too, it’s important to understand the specific buyer: he wants to choose the goods himself, and advice will only irritate him? Give him the opportunity, but be there if there are specific questions. Or does the person want advice right away? And then you have to talk to the person and try to find the right thing for him.

Smile and Don’t Say “No”

It’s important to start communicating with a customer with a smile – a nice, friendly and noncommittal smile. It seems trivial, but it’s really important. The same information can be pronounced in different ways, with different accents, with different moods – and the result of different information will be different.

Also, do not use negative sentences and words with “not” in the sale, just change the formation of a positive. And customers will be more willing to buy your product.

Onyeweaku Wisdom Bekee Ibe is the CEO/Founder of 260vibes Global >> 260vibes.com, he is a Pro blogger, an Artist, Songwriter, Rapper, Music Promoter, Music Digital Marketer, Content Editor, Digital currency exchanger, Web guru, Etc

I can make your content go viral on the internet for just a Token, be it Music | Mix tape | Video | Articles | Products | Press release | Comedy skits | and Etc. Call or WhatsApp us on +2347010096998. Email: admin@260vibes.com.

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