Professional Documents
Culture Documents
Sales Influence
Finding the Why in
(How People) Buy
(Volume I)
By
Victor Antonio
1st Edition
3
Sales Influence
1. Business 2. Sales
5
Sales Influence
7
Sales Influence
Table of Content
9
Sales Influence
11
Sales Influence
Chapter 1
The 2.5x Price Magnifier
13
Sales Influence
15
Sales Influence
17
Sales Influence
19
Sales Influence
Chapter 2
Value Attribution The
Discount Deception
21
Sales Influence
1
The Psychology of Sunk Cost, by Hal Arkes and Catherine Blumer, published in
Organizational Behavior and Human Decision Processes 35 (1985)
2
Sway: The Irresistible Pull of Irrational Behavior, Ori Brafman and Ram Brafman,
2008, Doubleday, New York, NY
23
Sales Influence
25
Sales Influence
Chapter 3
The Tupperware Effect and
Why Were Influenced to
Buy
27
Sales Influence
Scenario:
Your friend Ann then clinks her wine glass politely with
a spoon to get everyones attention, as she prepares to
introduce the Tupperware representative (a friend of
Anns, Im sure).
When everyone has had her turn, the rep then talks
about the new products Tupperware has developed,
passes a few samples around, and then closes by
thanking everyone for taking the time and supporting
their friend Ann.
29
Sales Influence
31
Sales Influence
So heres the question for you, How can you use one
or all four of these rules to improve your sales closing
ratio? Heres one idea. For social proof, you may want to
Good luck!
33
Sales Influence
Chapter 4
How to Prime the Prospect
to Say Yes
The stranger would nod yes and, fearing for his safety
or not looking to agitate the situation, would hand the
vagrant a cigarette and a lighter. After lighting the
cigarette, taking a few puffs, and returning the strangers
35
Sales Influence
lighter, the vagrant would thank the stranger and then ask,
Hey man, do you have any extra change in your pocket
you can spare so I can get something to eat?
More often than not, the stranger would dig into his
pocket and pull out a few coins and hand them over before
continuing on his way.
37
Sales Influence
You: Fair enough. Ill let you take our new Gizmo
3000 home for a week and let you see for yourself that
it does work and it will save you money in the long
run. (Target Request)
39
Sales Influence
Chapter 5
DBM Factor Increase
Close Rate by 10% to 20%
41
Sales Influence
43
Sales Influence
45
Sales Influence
Exercise:
Then take those reasons and build them into your closing
sales pitch or as reinforcement statement(s) once the sale is
made.
47
Sales Influence
Chapter 6
How to Sell Your Side of
the Story
49
Sales Influence
Persuasion Theory
Motivation to Think Effective Effect
High Primacy
Low Recency
51
Sales Influence
Advertisers Get It
53
Sales Influence
Sales Strategy
Suppose a client asked you the question, Why should I
buy from you and not your competition? The inherent
implication is that the client is motivated to think about
making a decision. What you now have to do is deliver
your message effectively.
Let me first tell you about our product and what makes
it a good choice and fit for your business. And then Ill
talk a little bit about what our competition offers and let
you decide which is more suitable. Is that a fair
approach?
55
Sales Influence
Exercise:
Think of a situation where you have to present two sides of
an argument, and ask yourself how you could improve your
argument by using the principles described. It doesnt have
to be a business situation per se; it can be a personal
situation where you have to convince someone else of your
point of view. This comparison between your and your
competitors products also invokes a rule of persuasion
called Contrast (see Chapter 14), which makes this
overall approach that much more effective.
57
Sales Influence
Chapter 7
How to Get Bigger Tips and
Higher Commission
Scenario 1:
59
Sales Influence
Result: The meal was great. You usually tip 15%, but
for his honesty and kindness you feel the need to
reciprocate and show your appreciation, so you decide
to leave the kid a 20% tip.
Scenario 2:
61
Sales Influence
The old adage that honesty is the best policy holds true
here. With so much information available to buyers today,
they need someone they can trust who wont steer them in
the wrong direction when making a purchase. This is the
premise of consultative selling. People need help making
critical decisions. Position yourself, much like the waiter
and car salesman, as trustworthy, and you will reap the
benefits in the end. Seek to serve, then to sell.
Exercise
How can you use this Reverse Field strategy in your
business to create trust and goodwill between you and your
client?
63
Sales Influence
Chapter 8
How People Lie in a
Social Setting
65
Sales Influence
I stepped to the side near one of the walls, leaned against it,
and closed my eyes. I no longer wanted to see what was
happening; I wanted to hear the event. The sound was
amazing a cacophony of sound bites, each person battling
to be heard, each wanting to make an impression on the
other!
67
Sales Influence
Gender Note: Men and women lie equally, but for different
reasons. Men are more likely to lie to make themselves
look better. Women are more likely to lie to make the other
person feel better.
69
Sales Influence
The next time you find yourself talking with someone for
whatever reason, make sure you really listen in to what
people are saying or trying to selling you. Always be
questioning, and in the back of your mind ask, "Can this be
right? Can this really be true?" This is the best defense
against deceitful social intercourse with fellow Homo
Sapiens.
71
Sales Influence
Chapter 9
How to Sell Without Using
Closing Strategies
73
Sales Influence
75
Sales Influence
If, at the end of the sales process, youve covered all the
clients objections and have answered them satisfactorily,
theres not much left to do but ask for the order.
77
Sales Influence
Chapter 10
Customer Penetration
and Up-selling
79
Sales Influence
Although these questions are very broad, you can use them
as a starting point to determine if there is any untapped
potential. What youre really trying to find out is what
other products can be sold into this account. To do this,
your questions have to more specific and related to your
other products.
81
Sales Influence
Exercise:
83
Sales Influence
Chapter 11
How to Prevent Price
Point Erosion
85
Sales Influence
In the past, studies have shown that the first price you
hear or are exposed to becomes an anchor or point of
reference in deciding what you are willing to pay for an
item.
the retail price was $5,000 and another group was given a
retail price of $4,988. After tallying the results, the group
with the $5,000 price tag guessed much lower wholesale
prices than did the group at the $4,998 price.
87
Sales Influence
89
Sales Influence
Chapter 12
Show and Sell Why
Displaying Your Products
Can Increase Sales
91
Sales Influence
93
Sales Influence
Chapter 13
Price Strategy When to
Consolidate or Partition
Pricing to Win Deals
95
Sales Influence
Consolidated Pricing:
Software: $199.00
License Fee: $0
Upgrade Fee: $0
Tech. Support: $0
Total: $199.00
Partitioned Pricing:
Software: $145.00
License Fee: $ 5.00
Upgrade Fee: $ 10.00
Tech. Support: $ 36.00
Total: $199.00
97
Sales Influence
99
Sales Influence
Chapter 14
Lowering Sales Resistance
The Contrast Principle
Victor: Well, you did a job for me about a year ago and
I was quite happy with it, so I called you again.
Victor: Ouch!
101
Sales Influence
Victor: Ok.
Mark: Well, you could spend $2,800 and just repair this
section, but what if you get another leak? You did say
the pipes are over 20 years old. (Mark then went
silent.)
103
Sales Influence
Anatomy of a Sale
Mark used several influence techniques on me to reduce
my resistance. The first one was to thank me for my past
business. We all like it when people appreciate what weve
done in the past. That made me like him right off the bat.
105
Sales Influence
Chapter 15
How to Sell More Using
Decoy Pricing
107
Sales Influence
Now, lets say that in the second year I decided to add the
third option at $75, and still sold the same total number of
chairs (130):
Ha! I bet you're going to watch out for this in the future
when making a pricing decision.
109
Sales Influence
111
Sales Influence
Chapter 16
Verbal Gifting The
Ultimate Rapport Builder
113
Sales Influence
Bob: Go ahead.
115
Sales Influence
Lets step back in time with Bob the prospect, except this
time, lets try using the verbal gift approach.
119
Sales Influence
Chapter 17
The Endowment Effect
Getting Your Clients
Loaded
121
Sales Influence
How can you use this in sales? Lets say youve been
working with a client for some time and theyre now ready
to buy. During the proposal or pricing stage, why not load
it up with features or options and then let the client decide
which of them theyd like to take off? This will force the
client to make the tough decisions and you, the salesperson,
wont be seen as being too pushy. And, if theyve fallen
under the influence of the endowment effect, youll also be
shifting the price point upwards (i.e., the client keeps more
options in). Here are some possible scenarios:
123
Sales Influence
125
Sales Influence
Chapter 18
Sales Positioning #1:
Redefining the Need
1. Weight
2. Screen size
3. Memory
4. Brand
5. Price
1. Screen size
2. Brand (quality and reliability)
3. Memory
4. Price
5. Weight
127
Sales Influence
Memory Memory
Brand Price
Price Weight
129
Sales Influence
Bob: Yep.
131
Sales Influence
133
Sales Influence
Chapter 19
Sales Positioning #2:
Highlighting a Need
135
Sales Influence
137
Sales Influence
Bob: Yep.
139
Sales Influence
Bob: Yes.
141
Sales Influence
143
Sales Influence
Chapter 20
Sales Truth Serum for
Buyers Who Lie How to
Get Accurate Information
145
Sales Influence
What do you think you can sell next quarter (or next
year)?
And when you did get the answer (i.e., the prediction), for
some reason you didnt feel quite confident that you were
getting an accurate answer. In fact, more often than not,
the answer you received was either highly optimistic or
pessimistic, and far from accurate. Learning from a recent
study done by Robin Tanner and Kurt Carlson will help
you increase the accuracy of a persons prediction by
simply applying one simple step.
147
Sales Influence
Now lets use a sales example to see how you would use
this in your sales process. Lets say youre meeting with a
prospect named Bob, and youre trying to get a realistic
timeframe for when a buying decision will be made.
149
Sales Influence
Chapter 21
Nodding Pumping the
Prospect for Information
151
Sales Influence
the prospect that you are listening intently and would like
to hear more.
153
Sales Influence
Appendix A
The Up Side of a Down
Market 10 Reasons a
Recession is Good for
Selling
to the U.S. dollar, bought only half of what you could buy
here in the U.S.
155
Sales Influence
3
The Channel Advantage, Lawrence Friedman and Timothy Furey,
1999, Butterworth-Heinemann Publishing
159
Sales Influence
161
Sales Influence
Appendix B
Seven Ways to Spot
a Sales Phony
The line that people often recite from the movie is,
"Life is like a box of chocolates. You never know what
you're going to get." This line has become part of
American pop culture. You can go up to almost any person
and start the line, and nine times out of ten, the other person
will finish it. I guess the lines popularity stems from the
163
Sales Influence
165
Sales Influence
Appendix C
Improving Your Sales
Performance Model
171
Sales Influence
As you can see, the total revenues would fall 40% short of
the sales revenue goal of $1M. At this point, we have a
problem and we need to find ways to resolve it (i.e., hit the
$1M).
173
Sales Influence
175
Sales Influence
As you can see from the table, the new revenue number
is $972,500. Although we didnt hit the $1M revenue goal,
its pretty darn close, and within striking distance.
177
Sales Influence