Science has brought us a number of important things: electricity, modern medicine, Hostess Twinkies. Science can also teach us a great deal about human psychology and sales. In this presentation, we cover 5 scientific studies that shed light on how to sell more effectively.
2. LESS IS MORE
Offer fewer choices to
increase the likelihood of
a sale.
Source
3. WHAT THE SCIENCE SAYS:
SETTING Supermarket where shoppers can taste a jams.
EXPERIMENT In situation (A) 24 different gourmet jams
were placed on a table. In situation (B), there were only
6 jams.
RESULTS While more people stopped by to check out
situation A (60% compared to 40% when there were
only 6 jams), situation B generated 10 times more sales.
4. HOW TO USE THIS TRICK TO
SELL MORE
- Don’t offer product options
that are very similar à it
makes choosing more
difficult (cust. less likely to
buy).
- If you have a large range of
products, help your
customers choose
- Only discuss the products
that are relevant to your
customer.
6. THE EXPERIMENT
Situation A: 100 students are given
these options to subscribe to the
Economist:
- Online-only subscription: $59.00
(selected by 68 students)
- Print & web subscription:
$125.00 (selected by 32
students)
Situation B: 100 other students are
offered this:
- Online-only subscription: $59.00
- Print-only subscription: $125.00
- Print & web subscription: $125.00
THE RESULTS
The # of students who selected the
expensive option of print & web
went up from 32 to 84.
7. WHY’D THAT WORK?
The print-only subscription makes
the print & web option look less
expensive.
HOW TO USE THIS TO SELL MORE:
Introduce a product that makes your
standard package look like a better
deal (e.g. product at similar price
with fewer features).
8. TELL A STORY
No need for a tall tale,
just an engaging genuine
story
Source
9. THE RESEARCH
Research suggests that stories are easier to understand and thus,
easier to persuade with.
Good stories transport the listener inside them. Once someone is
inside of a story, they are less likely to notice things that don’t
match-up with their past or everyday experience.
10. HOW TO USE THIS TO SELL MORE
Don’t rely on facts and statistics alone.
Selling with anecdotes or case studies is
most effective.
12. WHAT THE SCIENCE SAYS:
GROUP I
In the 1st experiment, people were given
$50 cash and the choice:
A. Keep $30
B. Take a 50-50 gamble of keeping the
full $50 or losing it all
RESULTS 43% chose to gamble (B)
GROUP II
In the 2nd experiment, option A was
rephrased as “lose $20” & participants
were presented with the same choice
RESULTS 62% chose to gamble (B)
13. WHAT THE RESULTS MEAN?
When Option A was described as a loss,
people tried to limit that loss by gambling.
HOW TO USE THIS TO SELL MORE
Point out to your prospects what they’ll
lose out on if they don’t buy your product.
15. WHAT THE SCIENCE SAYS:
GROUP I
Selling cookies for charity, Group A calls
subjects’ households and immediately
asks if they can send a volunteer to sell
cookies.
RESULTS 18% subjects agree
GROUP II
In the 2nd experiment, Group B calls
subjects’ households, but before asking
to send a volunteer to sell cookies, they
first ask how the subjects are feeling this
evening.
RESULTS 32% subjects agree (14%
increase)
16. WHAT THE RESULTS MEAN?
The Consistency Principle: Once people
have agreed to something, they’re more
likely to agree to something else.
HOW TO USE THIS TO SELL MORE
Don’t immediately aim for the sale. Get
your prospect to agree on the challenges
he faces or difficulties using his current
solution.
17. How Can Fileboard Help?
Fileboard tells you when a
prospect has opened your
deck and how interested
they are. So you know
exactly when to follow up.
To give Fileboard for
Salesforce a try, click here.
Don’t have salesforce?
Click here for Fileboard for
Cloud.