The Psychology of Sales

Every decision we make in life has a psychological reason behind it. Sometimes, we’re aware of this reason; at other times, we’re not.

But regardless of whether we’re privy to the influence of psychology on our decision-making, that influence is there, nonetheless.

 

This is why psychology and sales go so well together. Knowing how the mind works and knowing how to influence it are two of the most crucial qualities in top salespeople.

These sales geniuses know how to trip emotional triggers in the brain to make a sale. If you’d like to learn this skill, too, then stick around!

 

What Do We Mean by Sales Psychology?

You may have come across this term before without being one hundred percent certain of what it means. In this section, we’ll provide you with an explanation.

Sales psychology involves studying the psyche of an individual prospect or target audience in order to understand what emotional triggers will lead them to buy from you.

 

You can do this by following these sales psychology tips:

 

• Conduct market research. This helps you determine what motivates your target audience.

• Ask open-ended questions. Your prospect’s answers might point you in the right direction.

• Look at body language. What your client doesn’t say in words they might give away through body language or tone of voice.

 

How Can You Use the Psychology of Selling to Your Advantage?

Once you have an understanding of what psychological factors drive your prospect, how can you use this knowledge to your advantage? This is the real challenge of selling psychology. 

In short, if you know what motivates your prospect, you should be able to craft an effective sales pitch—one that’s catered to their needs and uses effective language.

 

For example, if you know your prospect likes the thought of getting in on an exclusive product, you might emphasize its “unique qualities” and try to convince the buyer to “snatch them up before they’re gone.”

 

 

The Psychology of Sales in Action

If you’re trying to level up your sales game using psychology, then you should be aware of the different psychological pressures that can impact someone’s buying decision. 

Psychology in sales can take many forms, but four common principles of influence come up again and again. These are:

 

• Social proof.

• Likability.

• Authority. 

• Scarcity.

 

In this section, we’ll break down each of these four principles to give you an idea of how to handle your next sales endeavor. 

 

The Power of Social Proof

Social proof is an extremely powerful influence on a prospect’s buying decisions.

In fact, a recent study showed that over 92% of people felt more inclined to purchase goods or services that they’d heard good things about.

 

This is why it’s so important that companies push for client reviews.

Sending out surveys and offering the chance to win a prize in exchange for leaving a review are just two ways you can encourage your customers to leave you their feedback.

Agreeing With Those We Like

When we like or trust someone, we’re more likely to trust them and follow their instructions.

That’s why so many companies hire beloved actors and other famed celebrities to star in their advertisements or advocate for their products on social media and during interviews.

 

Of course, if you’re a small startup, it’s unlikely that you have the budget or the influence to hire a start to help sell your products.

Instead, focus on painting yourself and your company in a positive light instead. You might do this by including an “About Us” section on your site where you talk about your values and the hard work you’ve put in to bring your company to life.

 

Following a Voice of Authority

If you’re looking to buy a new car, are you more likely to take advice from someone who’s never owned a car in their life or from someone who has owned many and has experience taking care of them?

No doubt you’d speak with the latter.

 

This is because people are more inclined to listen to people speak on a particular topic if they believe that the individual in question has a special knowledge of the subject.

There are a couple of different ways you can take advantage of this. The first way is to solicit product reviews from known industry experts.

 

Secondly, you can also show off your own expertise—perhaps through blog posts or free resources for your prospects.

 

 

The Scarcity Principle

This final principle of sales psychology, the scarcity principle, posits that people are more inclined to make a purchase when they believe that the product is exclusive or limited.

Think for a moment: how many times have you seen ads with the following phrases:

 

• Buy while stocks last!

• Limited-time offer!

• Last chance to buy!

 

Such phrases play on our fear of missing out; the more scarce we believe a product is, the more tempted we’ll be to hurry and buy it before it’s gone forever. 

 

 

Understanding the Psychology of Sales Can Boost Your Performance

The importance of psychology in trade cannot be overstated. After all, a good salesperson is not just charismatic and silver-tongued, but understanding and empathetic.

It’s only by coming to a full understanding of your client and their pain points that you can hope to persuade them to make a purchase from your company.

 

An understanding of how the brain works and how our purchasing decisions are influenced by it is essential if you want to get anywhere in the sales world.

We hope that, after reading this article, you feel at least a bit better informed.