Would more product options help or hinder prospects in making a buying decision? This was the question that two behavioral scientists, Sheena Iyengar from Columbia University and Mark Lepper from Stanford University sought to answer. Iyengar and Lepper conducted numerous scientific experiments regarding how the quantity of information influences the decision to purchase. One of their most well-known experiments occurred at an upscale grocery store in Melo Park, California. For numerous weeks the researchers set up a tasting booth that allowed consumers to sample an assortment of jams. The first week, 24 different jams were exhibited for the patrons to taste. Read More Why Less Will Help You Sell More
Craig was an experienced sales person who was going through the worst selling slump of his career. His sales production had plummeted by over 50% and no one knew why. Craig had even met with his sales manager numerous times and had reviewed with him his entire sales presentation, but still nothing seemed to help. With each day that passed Craig was becoming more frustrated as his performance continued to decline. Craig had begun to believe that his situation was hopeless. It was at that time that Craig’s sales manager asked me to meet with Craig to see if I could identify what was wrong. During our first meeting, I talked with Craig for a while and asked him some diagnostic questions. Read More What is Your Sales Bottleneck?
“Try not to think of a white bear.” This was the peculiar instruction given to participants in a research experiment led by behavioral scientist Daniel Wegner. Each participant was directed to sit quietly for five minutes and attempt to think about anything other than a white bear. The findings of this experiment, which were published in the Journal of Personality and Social Psychology, disclosed that in spite of their most valiant attempts to resist, the thoughts of the participants wandered to the topic of white bears at a rate of more than once per minute. This experiment has been repeated by various behavioral scientists with diverse groups of people, but the results are always the same. Those who participated in the experiments confessed that their minds were continually infiltrated by white bears. Read More What is Your Prospect Thinking About?
It was a research experiment that many would have gladly volunteered for. Three behavioral scientists approached patrons at a local bar and asked them to evaluate two different beers. The first option was simply a regular beer, while the second option was regular beer with a few drops of balsamic vinegar. Prior to tasting, some of the participants were told the ingredients, while others were not told until after tasting. The results were that the majority of those who had been informed about the balsamic vinegar before trying either of the beers selected the regular beer as the best tasting. In contrast, most of tasters who had not been told about the ingredients of the beers chose the beer with balsamic vinegar as the best tasting. Read More How to Increase Your Sales Influence
What factors influence a prospect’s decision to purchase a product or service? Answering this question rightly is not only fundamental to selling, but also to the field of economics. In the past, standard economic theory asserted that when consumers make buying decisions they do so in a rational, logical manner. Yet, today economists no longer believe this to be true. The reason for this change in philosophy is due to the thousands of scientific studies in the discipline of behavioral science. Read More Two Nobel Prize Winning Ideas that Will Increase Your Sales
Behavioral scientists Charles Lee, Sally Linkenauger and three colleagues conducted a revealing psychological experiment with 41 golfers. The golfers were randomly split into two groups. The first group was led, one at a time, to a putting matt. Each golfer was handed a golf putter and then asked to estimate the diameter of the hole at the end of the matt. Then the golfer was allowed to attempt 10 putts. The second group of golfers had a similar experience as the first group, except for the fact that as each golfer was handed the putter he was told that it had once belonged to professional golfer, Ben Curtis. Amazingly, this seemingly insignificant piece of information about the putter had an astounding affect upon the golfers. Read More Two Beliefs That Will Increase Your Sales