Psychology of Converting a Prospect to Money
If you want a truly successful business, you need to take a close look at how Psychology can set you apart from the rest of your competition.
Secrets of negotiating
Remember this: no matter how great your product or service, unless you can negotiate innovatively you’ll never achieve the success that can be yours.
When you follow-up with a prospects, ask them: “Do you have any situations that we can work out together using our mutual expertise?”
Psychologically, by substituting the word “situations” for problems, you are more likely to get a positive response. Also, by using the term “combined or mutual expertise” you are telling them you respect their valuable knowledge.
Remember this advice – Seek first to understand, then to be understood.
How to make people respond more quickly
Remember: “People respond more to what they are going to lose than to what they are going to gain.”
It’s very powerful when you explain to prospects they will probably lose market share to their main competitors if they don’t adopt your ideas. Ask yourself: What will my customers stand to lose if they do not buy my service or product?
Psychology can also play a powerful part in overcoming objections to requests for a follow-up call. There are two strategies that will result in incredible opportunities coming your way. Try them today.
Tell your prospects you really want to understand their needs precisely and you feel you can’t achieve this unless you talk to them in on the phone. People want to feel understood more than anything else and the businesses that understand this take all.
You can also add that it will only take, say, 12 minutes, (let them time you!) to show them how they can benefit from what you’re offering. You can also offer to give them a free gift (low cost with a perceived high value eg reports, e-books etc) if they think you’ve wasted their time.
Packaging Your Website
You can increase your sales by using appealing photographs of typical users (yourself) on your website.
Why is this? Well, it humanizes your product or service
and prospects perceive you to be more professional and trustworthy.
This can be very powerful for a home-based business to add to the level of trust for your potential prospects.
Beware of this common mistake
This is a common mistake made by many in home-based business marketing. Marketing your home-based business, you must sell benefits, not features. If you sell your product or service using features, you must stop this mistake immediately.
While marketing your home-based business, you can sell its features: “Free website and dozens of marketing tools to promote your site”. How many advertisements do you see like this?
However if you sell benefits, you sell prospects a lifestyle and that’s psychologically powerful.
For example, you can sell benefits by offering “Financial freedom” (your product) with a special offer of test-driving the product for 30 days (innovative pricing to encourage a larger sale). You can then detail how your product leads to financial freedom, for example, free website with your personal attention to helping your prospect begin marketing their new business.
This can be done in many different ways no matter what your home-based business is. The secret is to turn your service or product into a package (a way of life) and combine it with innovative pricing.
Psychology in marketing
Using psychology in your marketing will add immense power to your efforts, you’ll reap the rewards quickly.
Psychology is not a trick it is recognizing and celebrating our strengths and weaknesses as humans.
My next article
My next article will be titles, “We eat our young”. It will be a discussion on the psychological aspects of helping, or in some cases not helping persons new to owning their own business.
Article by: Joe Saddoris, Owner of
Editor of the EIINM newsletter
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