Category: Uncategorized

Study #5 – Using Urgency The Right Way

 

 

Creating a sense of urgency in your sales pitch is one of the oldest tricks in the book and still one of the smartest.

 

A study was conducted by handing out two different pamphlets, both sparing no detail on the horrid effects that the tetanus disease can have on the body.

 

• The first pamphlet described only the effects of tetanus.

 

• The second pamphlet described the effects of tetanus and also included information on where to get vaccinated.

 

The results were clear: Those who had the second pamphlet (with the sparse follow-up info) were much more likely to take-action; the rate that followed through with vaccination was superior to the first group by nearly 25%.

 

 

Our minds are susceptible to blocking out information that evokes a sense of urgency if there aren’t any instructions on what to do next.

 

Those who didn’t receive follow-up information were prone to convincing themselves that, “I don’t need to worry about this because it won’t happen to me anyway,” whereas those in the second group had little reason to feel this way because they had a plan to take action.

 

Bottom Line: Urgency can be blocked by your customers’ minds if you don’t give them specific instructions on how to solve the problem. Rather than giving vague instructions, tell people exactly what to do when the time comes and don’t be afraid to drive them toward specific actions.

 

Happy Tuesday & Happy Selling!

Kevin

Maintaining focus during the holiday season can be tough. Between travel, visitors, and time out of the office, your normal schedule and routines are off — and there’s a good chance your prospects’ are too.

 

But even though December isn’t business as usual, you can’t stop selling. You’re still responsible for meeting quota. Letting your pipeline suffer this month will definitely have a negative impact on your results next year.

 

If you need a little motivation, rally yourself with these four reminders.

 

1) The Likelihood You’ll Reach the Decision Maker Is Higher Than Normal

To connect with decision makers, sales experts suggest calling early in the morning or at night. Executives and senior leaders are hard to access during normal business hours — assistant or more junior employees typically take your call instead.

 

But the logic goes, at 6:30 p.m. the CEO might be the only one in the office to pick up the phone.

 

The same principle applies to the holiday season. While many people are away, those at the top of the ladder may stick around or come in to get some work done while it’s quiet.

Keep this in mind next time you start dialing. You could get sent to voicemail, but there’s also the chance you’ll reach the economic buyer.

 

Additionally, there are a lot less salespeople vying for their attention in December so you chances of having your pitch heard are definitely greater.

 

2) Set Appointments for “After The Holidays”

Many decision makers are not in business mode and may have their heads halfway out the door. However, by requesting a meeting for “after the holidays”, most execs will be acceptable to such a request. Lock in a date in January and you will be the first in their fresh calendar for 2017.

 

3) Capitalize On “Use It Or Lose It” Budgets

While some of your prospects have already exhausted their budgets for the year, others will be looking around to spend their remaining funding. Many departments have “use it or lose it” policies: Unspent money disappears rather than rolling over to next year’s budget.

In addition, companies often review last year’s spend to figure out how much to allocate for the coming year. Suppose a senior manager only uses $600,000 of her $700,000 budget in 2016. She’ll probably get $600,000 in 2017.

 

That manager will probably jump at the chance to spend her remaining $100,000 on a valuable solution while securing her budget for next year.

 

Others may be looking for a last minute tax deduction.

 

Don’t let the holidays interfere with your ability to hit — or even crush — your quota. There may be some factors playing against you, but there’s an equal number working in your favor.

 

Happy Tuesday & Happy Selling!

Kevin

Study #4 – Losses Loom Larger Than Gains

 

 

The sad truth about people is this:

 

People will fight harder to prevent losing a dollar than earning a dollar (this is known as loss aversion).

 

From a logical standpoint, it makes no sense.

 

A dollar is a dollar is a dollar.

 

But when it comes to human beings, we’re not that logical. We’re quite emotional, actually.

 

And when it comes to a dollar, a dollar that’s ours is more valuable than earning a dollar that isn’t ours.

 

That’s why when people sell their houses they often overvalue their house. After all, it’s THEIR house.

 

People respond better to telling them what they’re missing out on over telling them what benefits they stand to gain… because loss looms larger than gains.

 

So, not only do you need to tell people what they’ll get when they buy whatever it is you’re selling, you also need to reiterate what they’ll lose out on if they don’t buy… for maximum impact.

 

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Caution: Just because losses loom larger than gains, doesn’t mean you should focus only on loss. That’s a scarce mindset. You should intersperse both gains AND losses in your sales copy. Explain what people stand to gain… and what they stand to lose… for best results.

 

Happy Tuesday & Happy Selling!
Kevin

Hello. It’s me, the guy in the top hat, yeah, the one you’re looking at right now.

 

Sorry I can’t face you as we speak, but they told me to face forward. “Whose they?” you ask, well, the same guys who created Banquest. What they didn’t realize, unless they did, is that when you tell the guy in the ad to face forward, you have just removed any hope of him ever having a face in the first place. So, technically, it’s impossible for me to really face forward.

 

Whatever.

 

So I was introducing myself.

 

When they placed me on this land of gray rocks and grayer clouds, they instructed me to, and I quote, “look into the future, beyond the horizon, past what your eyes (eyes!?) can see”. When I heard that, I was sure I would be advertising some sort of spiritual/metaphysical seminar, or something close. I mean, the last time I was told to “see beyond yourself” I was advertising a women’s-only-drug-rehab-through-nature-and-ballet program. I think.

 

But no, they tell me I’m working for a credit card processing company. What that has to do with horizons and eyes is anyone’s guess, and it’s definitely too big of a challenge for someone who just has a sheet of hair to claim as his head (me). So, I tried my hardest to look into the horizon and beyond the future, but I hear them tsk-tsk-ing behind me, “you need to look pensive, contemplative, and pondering”.

 

At that point, it was getting a little too much for someone even so ad-seasoned like myself, and I was just about ready to tell them to go find some other 2D figure to drive up a wall.

 

But then they handed me a red suitcase and a stick, and that changed everything! Never, in all my years of advertising, was I ever given such wonderful accessories. I felt like I was finally going places (like to the next rock, or the one after that).

 

Then and there, I made up my mind to stick with Banquest, full face or half.

 

Because honestly, a company that treats its clients like family, is committed to their best interests (and saves them money as well), is the company I keep.

 

And so should you.