Here’s one thing you’re not taking the time to learn: the human mind. Understanding why people buy things allows you to have the upper hand in the sales process.
In this episode of “The Sales Evangelist Podcast,” host Donald Kelly invites Phil Agnew, the UK’s number one marketing podcast host, to share insights on psychological nudges that can benefit salespeople.
With his background in marketing and expertise in behavior science and psychology, Phil brings to light six psychological effects that can significantly impact sales. Tune in and learn how psychology greatly influences people’s buying decisions.
Understanding the Effects
- The episode features a comprehensive discussion of six effects psychologists and behavioral scientists discovered over the years.
- These effects are anchoring, scarcity, reciprocity, social proof, the Prattful effect, and the labor illusion.
Anchoring and Its Impact on Sales
- Phil explains the anchoring effect, which is the concept that individuals are anchored to the initial information they receive.
- He delves into practical examples of how anchoring influences decision-making and shares insights on how salespeople can use anchoring to their advantage.
Leveraging Scarcity in Sales
- The conversation then moves on to scarcity, a psychological concept where a scarce resource is perceived as more valuable than an abundant one.
- Phil discusses innovative ways to apply scarcity and shares compelling studies demonstrating the effectiveness of leveraging scarcity in marketing and sales strategies.
Reciprocity in Salesmanship
- Phil delves into the concept of reciprocity, focusing on the human tendency to return a favor.
- He shares engaging stories, including the fascinating tale of the world’s most successful used-car salesman, and provides practical insights on implementing reciprocity in sales strategies.
The Power of Social Proof
- Social proof is the next psychological effect examined in the episode.
- Phil elaborates on individuals’ tendency to follow others’ actions and illustrates how salespeople can use social proof to influence the decision-making process of potential buyers.
- His insights shed light on the persuasive nature of social proof in sales scenarios.
Exploring the Prattful Effect
- The conversation takes a fascinating turn as Phil discusses the Prattful effect, an intriguing psychological phenomenon that underscores how showcasing a weakness can actually enhance likability and desirability.
- He provides valuable examples and practical applications for leveraging the Prattful effect in sales strategies.
The Labor Illusion and Its Value in Sales
- The episode culminates with exploring the labor illusion, where the perceived effort and work put into a product or service enhance its value.
- Phil highlights studies that illustrate the influence of the labor illusion on consumer decision-making and provides actionable guidance for sales professionals.
Practical Applications and Real-World Examples
- Throughout the episode, Phil intertwines the psychological effects with practical, real-world examples, translating complex psychological concepts into actionable strategies that sales professionals can implement to enhance their sales approach.
- From leveraging scarcity in product marketing to highlighting weaknesses to build trust, Phil’s insights provide a wealth of actionable ideas for sales enhancement.
In this enthralling episode, Phil Agnew provides a deep dive into the fascinating realm of psychological nudges and their impact on sales strategies. Explore these six psychology sales tricks to enhance your approach.
- This episode is brought to you in part by Hubspot.
With HubSpot sales hubs, your data tools and teams join a single platform to close deals and turn prospects into pipelines. Try it for yourself at hubspot.com/sales.
- This episode is brought to you in part by LinkedIn.
Are you tired of prospective clients not responding to your emails? Sign up for a free 60-day trial of LinkedIn Sales Navigator at linkedin.com/tse.
- This episode is brought to you in part by the TSE Sales Foundation.
Improve your connection on LinkedIn and land three or five appointments with our LinkedIn prospecting course. Go to the salesevangelist.com/linkedin.
As one of our podcast listeners, we value your opinion and always want to improve the quality of our show. Complete our two-minute survey here: thesalesevangelist.com/survey. We’d love for you to join us for our next episodes by tuning in on Apple Podcast, Google Podcast, Stitcher, or Spotify. Audio provided by Free SFX, Soundstripe, and Bensound. Other songs used in the episodes are as follows: The Organ Grinder written by Bradley Jay Hill, performed by Bright Seed, and Produced by Brightseed and Hill.