According to sales expert and best-selling author Brian Tracy, there are two main factors that impact on the buying decision: desire for gain and fear of loss. Essentially, decision makers are weighing up their desire to gain the benefits on offer with the chance that the same product or service could cost them time, money, or another important factor.
Understanding this decision making process is incredibly important if salespeople are going to achieve their professional goals.
The fear of loss
There are a few basic psychological concepts that consistently come in useful in the world of sales. One of the most important of these describes how the fear of loss is more powerful than most other motivational factors when it comes to decision making. As Curiosity.com says, “This trick of psychology says the pain of losing something is greater than the joy of gaining something.”
Working to consistently reassure a prospect that a positive decision is highly likely to have a positive outcome is therefore incredibly important. In fact, keeping this at the forefront of their mind when they pick up the phone can help telemarketers to improve the results they achieve. Telemarketers can also try to avoid mentioning loss altogether during their call. Although it’s likely to come up if the prospect raises any objections, focusing on the positives of a product or service can be a powerful way to get a message across.
The desire for gain
When it comes to tapping into the desire for gain, it’s important to remember that this gain can come in many forms. While some decision makers will be thinking along purely monetary lines, others will see potential gain in a variety of different areas. For example, if a product or service brings a company increased security, improves its status and prestige within the industry, or helps it to become a market leader, these factors will be taken into account when pros are weighed against cons.
Emphasising these gains and how they directly relate to the decision maker, can make a big difference to a sales call. The more adept the telemarketer is at describing these benefits, the more likely desire for gain will be to overcome the fear of loss in the mind of the decision maker.
Understanding the prospect’s motivation
In order to make the most of this sales technique, telemarketers need to understand the prospect’s motivations as clearly as possible. This comes from opening up a dialogue early in the conversation and building rapport with the decision maker. The more effectively telemarketers can do this, the more persuasive their calls will be.
Making a few small changes to your telemarketing technique can have a big impact on the results you achieve. To find out more, or to learn how we can help you improve the quality of your calls, explore our site – or get in touch with a member of our expert team.
