Sales Tips from Hoolock Consulting
We hope that you find these useful. We try to post new tips every week so please come back and read some more.
Behavioural economics incorporates the study of psychology into the analysis of decision making. Nudge Theory explains how small interventions can encourage individuals to make different decisions. For example, we are more likely to donate our organs if we have not opted out rather than we have chosen to opt in.
In sales, most of our customers are not looking to buy our solutions today. However, they are much more likely to buy our solutions tomorrow if we have been nudging them in the right direction today. Try to incorporate some form of nudging into your monthly work. It might be a simple email (like this one!) to remind the client of your products; it might be pop up adverts based on internet searches or it might be a coffee with your contact as you just happen to be passing by.
However you do it, try to remind your customers of what you do on a regular basis.
Everyone has personal motivations in their work. When you are working with someone for a sale, the chances are that they are thinking about how the deal can help them with their goals. Whether it is a promotion, new opportunity or a bonus, there will be something personal that is driving their behaviour. If you can help them with their goals, you have a greater chance of making the sale as their success matches your success.
You are perfectly entitled to ask your customer about this. You don’t need to be blatant about it – ask in an informal setting when it is just the two of you. They are unlikely to open up in a room full of their peers. However you can do it, you should aim to find out their motivation and how you can help them so they are more willing to help you.
Why are you unique?
Its highly likely in any sales scenario, that there is an alternative that the customer might choose to purchase. There are many different types of smart phone for example and no one company dominates the market. The reason that a buyer selects one product over another is related to the uniqueness of their product – what is it that they do that no one else does? If there are no differences, then price will be a factor but if you are offering something unique, you need to ensure that the customer knows about it.
For each feature of your product that is unique, you also need to know why this matters to the customer. If it doesn’t matter, it is not worth highlighting. However, if you have something unique that is important, then you need to shout it from the roof tops. To know what matters to the customer, you need to understand their needs during your research.