In the past, many believed that when people made buying decisions they did so in a rational, logical manner. Today, behavioral science has proven this notion incorrect. There have been thousands of scientific studies which have revealed that when people make decisions they do not engage in a rational, cost-benefit analysis, but instead rely upon a set of fixed psychological principles. This is extremely important for sales people to grasp …
Traditional sales wisdom claims that the best sales people are extroverts. They are outgoing, social individuals who are believed to be so naturally gifted that they can “sell ice to Eskimos.” What’s more, often when hiring sales people, managers will use personality tests to identify those who are extroverts. Potential candidates are posed questions like, “When at a party are you more likely to be the center of attention or …
Over the last few decades there have been many research studies that have delved into the science of confidence. The findings of this research convey clear, science-based strategies that will guide anyone in becoming more confident. This is no small matter because the research also confirms that having confidence in oneself enhances how others perceive you. For instance, a study conducted at Carnegie Mellon University’s Center for Behavioral Decision Research …
The profession of sales is on the verge of a revolution that will change it forever. Early adopters who have embraced this revolution are experiencing a significant competitive advantage that is causing their sales production and market share to explode. Every sales leader knows that the world of selling has changed and the profession of sales must also adapt. The current marketplace is more challenging than any that preceded …
Product knowledge is one of the most misunderstood topics in selling. Business leaders often barrage their sales teams with information about their products in the hope that it will increase sales. It never does. Many have asked, “how much product knowledge does a sales person need to be successful?” Those who pose the question are looking for an answer that reads like a checklist. Sales people need to know this, …
Surveys have consistently found that approximately 42% of all sales people fail to meet their quota. Many of these sales people work hard and desperately want to be successful, yet they still struggle. They often thrown their hands up in frustration and proclaim, “I am doing my best.” This declaration reveals the answer to their situation. Stop doing your best. Instead, get better. Everyone has experienced times when their best …
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.[1] 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 …
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 …
“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.[1] 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 …
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 …
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 …