The Psychology of Selling

1. Master the Inner Game of Selling

"The more you like yourself, the more you like other people. The more you like other people, the more they like you in return."

Self-esteem is crucial. Your self-concept, the bundle of beliefs you have about yourself, directly affects your sales performance. High self-esteem leads to confidence, which customers perceive and respond to positively. To boost your self-esteem:

• Regularly affirm "I like myself!" to program your subconscious
• Visualize yourself as a top performer in your field
• Practice mental rehearsal before sales calls
• Overcome fears of failure and rejection by focusing on your value

Develop the winning edge. Small differences in ability can lead to enormous differences in results. Improve your skills by just 3-4% in key areas to dramatically increase your sales success. Continuously learn and apply new techniques to stay ahead of the competition.

2. Set Clear, Ambitious Sales Goals

"Your subconscious mind is neutral. It is like clay. You can shape it any way you want."

Goal-setting is transformative. Top salespeople are intensely goal-oriented. To harness the power of goal-setting:

1. Write down specific, measurable annual income and sales goals
2. Break them down into monthly and weekly targets
3. Determine daily activity goals (e.g., number of calls, appointments)
4. Review and rewrite your goals daily
5. Visualize your goals as already achieved

Activate your subconscious. By consistently focusing on your goals, you program your subconscious mind to work towards them 24/7. This increases your motivation, sharpens your focus, and alerts you to opportunities you might otherwise miss.

3. Understand Why People Buy

"People decide emotionally and then justify logically."

Emotional drivers are key. While people use logic to justify purchases, their decisions are primarily emotional. The main emotional drivers include:

• Desire for gain (improvement, advantage)
• Fear of loss (avoiding mistakes, protecting assets)
• Love and belonging (acceptance, respect from others)
• Pride and self-esteem (feeling important, valued)
• Security and peace of mind

Identify needs accurately. Ask open-ended questions to uncover the prospect's true needs and motivations. Listen carefully to their responses. Focus on what your product or service does for the customer, not just what it is. Demonstrate how it satisfies their specific emotional and practical needs better than any alternative.

4. Unleash Your Creative Selling Potential

"Marshall McLuhan once wrote that all you need is an idea that is 10 percent new to make a million dollars."

Cultivate creativity. Creative selling is essential for finding new prospects, uncovering buying motives, and overcoming objections. To boost your creativity:

• Set clear goals and focus on pressing problems
• Ask yourself focused questions to stimulate new ideas
• Practice "mindstorming" - write 20 ideas to solve a problem
• Implement at least one new idea immediately

Differentiate yourself. Identify your unique selling proposition (USP) - what sets you apart from competitors. Specialize in a particular market, customer type, or result. Concentrate your efforts on the prospects who can benefit most from your unique strengths.

5. Perfect the Art of Getting Appointments

"Spend more time with better prospects." This six-word formula is the recipe for high income in every market.

Master prospecting. Getting appointments is crucial for sales success. To improve your appointment-setting:

• Develop a powerful opening statement focused on benefits
• Use the "approach close" to reduce initial resistance
• Neutralize objections with social proof
• Always aim for a specific appointment time
• Confirm appointments to avoid wasted time

Qualify prospects effectively. Use the demonstration close to determine if a prospect is genuinely interested and capable of buying. This technique helps you focus your time and energy on the most promising opportunities.

6. Harness the Power of Suggestion

"Everything counts! It either helps or hurts. It either adds or detracts."

Create a positive impression. Everything about you and your presentation influences the prospect's perception. Pay attention to:

• Personal appearance and grooming
• Body language and voice tone
• The cleanliness and organization of your materials and surroundings

Use suggestive techniques. Employ methods that subtly influence the prospect's thinking:

• Tell stories and create vivid mental images
• Use testimonials from satisfied customers
• Demonstrate your product whenever possible
• Assume the sale in your language and actions

7. Close the Sale with Confidence

"Many sales are delayed far longer than they need to be because salespeople are reluctant to ask for the order and bring the transaction to a close."

Master closing techniques. Develop the confidence to ask for the order using various closing methods:

• The trial close: Check agreement throughout the presentation
• The alternative close: Offer choices that assume the sale
• The summary close: Recap benefits and ask for the order
• The direct close: Simply ask, "Would you like to go ahead with this?"

Handle objections effectively. View objections as requests for more information. Listen carefully, acknowledge the concern, and respond with confidence. Use the "feel, felt, found" technique: "I understand how you feel. Others have felt the same way. But they found that..."

8. Become a Top-Performing Salesperson

"Success in sales goes to the person who is just a little better in the critical areas of selling."

Commit to excellence. To join the top 10% of salespeople:

1. Love what you do and continually improve your skills
2. Set clear, written goals and develop detailed plans
3. Take massive action towards your goals
4. Learn from every experience and adapt your approach
5. Stay motivated through positive self-talk and visualization
6. Develop strong relationships with customers and colleagues
7. Manage your time effectively, focusing on high-value activities
8. Continuously educate yourself on your product, industry, and sales techniques

Measure and track your progress. Regularly assess your performance against your goals. Identify areas for improvement and seek feedback from mentors, colleagues, and customers. Remember, small improvements in key areas can lead to dramatic increases in your sales success.

Last updated: July 20, 2024