Sales Psychology

Understand the Psychology Behind Black Friday Sales and Psychological Pricing Strategies!

When was the last time you purchased a product or service? Did you rationalize that purchase, or was it more of an emotional decision? You may be surprised to learn that most people make purchases based on emotion and then justify those decisions with logic.

Understanding this and other psychological reasons behind successful (and unsuccessful) sales will help you build a long and prosperous career as a salesperson. This holds true whether you’re selling a physical product, intangible product, or service.

Sales psychology encompasses many facets, with numerous volumes written on the topic. While it is beneficial to study these detailed texts, we offer a general overview of sales psychology here.

Firstly, know your audience. Who are you selling to? What keeps them up at night? Where does their pain lie, and how does what you offer alleviate that stress and pain? Truly understanding your customer and how they think provides key elements for a successful sales pitch.

The person you are selling to needs to know that you understand their problem or issue. As humans, we need to feel validated, understood, and cared for. Addressing this in your sales copy or sales script will make it much more effective, resulting in higher conversions and giving you a distinct advantage over competitors.

Don’t hesitate to address your ideal client's fears in a way that captures their attention. Often, buyers are more afraid of what they might lose than what they could gain. Use this to your advantage when talking to clients.

Your customer’s perception is crucial. How they view you—whether they trust you or regard you with suspicion—will determine your sale's success. Therefore, don't just try to act trustworthy; actually be trustworthy. Don't just try to appear caring; genuinely care.