Buyer Psychology

People buy with emotion, justify with logic

Psychological tips that help increase sales

• SCARCITY – By announcing that a particular offer is for a ‘limited-time only‘ or has ‘limited stocks’, can help target people who are on the fence to take a decision in fear of missing out
• CURIOSITY – People are naturally curious, so if they come across some marketing material or content that they don’t know about, they feel compelled to find out more. This is often used by marketers by not providing enough information leading to an ‘information gap’, that people feel compelled to fill
• ANTICIPATION – By creating a buzz around a product launch, people get excited and are more likely to buy on the launch
• SOCIAL PROOF – Recommendations from other users, friends, family, celebrities and other known personalities help build trust that others have tried and also liked a particular product or service
• RECIPROCITY – The principle of reciprocity implies that when you give something to someone, they feel compelled to give you something back in return (their email, participate in a trial, a review, recommendations etc.)

4 P’s of Personal Selling

• PROMISE – the hook, that allows you to get consumer’s attention
• PICTURE – need to be able to paint a picture in your consumer’s mind
• PROOF – can be testimonials, reference from authority figures or word-of-mouth
• PUSH / PITCH – when you introduce the product & ask for a buy

4 P’s of Marketing

• PRODUCT – you can only sell to people who want or need your product
• PRICE – have to pick the right price for your target market, neither too cheap nor too expensive
• PLACEMENT – where is your product available
• PROMOTION – how to people get to know about your product and what’s the special offer

AIDA Method

• A way to funnel average consumers, into a customer who takes action
• ATTENTION – buying social media ads, blogging, asking friends to post
• INTEREST – you need to be interesting and be able to catch your consumers attention
• DESIRES – companies try to sell logically (by selling features), but forget that people by emotionally (focus on selling benefits)
• ACTION – need to introduce your offer by providing a call-to-action

When dealing with people, let us remember that we are not dealing with creatures of logic. We are dealing with creatures of emotion.

Dale Carnegie – Self improvement Guru, Author – How to Win Friends & Influence People / How to Stop Worrying & Start Living / The Leader in You

Psychological Tricks

Make a person say yes multiple times: Get a student to say ‘No’ at the beginning, or a customer, child, husband, or wife, and it takes the wisdom and the patience of angels to transform that bristling negative into an affirmative.

‘Socratic method,’ was based upon getting a ‘yes, yes’ response. He asked questions with which his opponent would have to agree. He kept on winning one admission after another until he had an armful of yeses. He kept on asking questions until finally, almost without realising it, his opponents found themselves embracing a conclusion they would have bitterly denied a few minutes previously.

Dale Carnegie – Self improvement Guru, Author – How to Win Friends & Influence People / How to Stop Worrying & Start Living / The Leader in You