Tag Archives for " Scarcity "

Donald Kelly, TSE Hustler's League, Sales, TSE

TSE 675: TSE Hustler’s League-“Speed Up The Purchase”

Donald Kelly, TSE Hustler's League, Sales, TSE

The TSE Hustler’s League is an online group coaching program designed to help sellers of all levels. Each semester, we focus on a theme. And for this semester, we have two tracks – business development and building value.

Check out our first track if your goal is to increase your win rate while if you want to focus on finding opportunity and lead generation, check out our business development track.

In this episode, we talk about the idea of increasing scarcity and how to apply that into your presentation. This is a snippet taken from one of our past sessions over at the league.

Here are the highlights of today’s episode:

How You Can Apply Loss Aversion Inside Your Sales Process:

  • Loss aversion is the human tendency to avoid losing things.
  • The desire not to lose something is greater than the desire to gain something.
  • Take a snapshot of this in your deeper discussion with your prospect and utilize this later on as you present your solution.
  • Utilize the same information to build up urgency or the reason to do something.
  • Tell a story of another client who used the same product or service where they had to lose something to gain more in the long run.
  • As you end your presentation, insert two sentences which you recommend for them to start off with.
  • Tie all this back into giving the buyer the control over his decision-making.

Use of Time-Related Words:

These are some words you can use to increase urgency:

  • Now
  • Fast
  • Quick
  • Hurry
  • Rapidly
  • Close
  • Approaching
  • Never
  • Seconds
  • Again
  • Over
  • Instant

For example:

“When you fix it, you will never see any issues like this again.”

“Your website speed is going to be in seconds. It will be fast and quick.”

Words like these cause the mind the to think urgently about time, thus improving the person’s likelihood of converting.

Be mindful and make sure you’re incorporating words that encourage or push the buyer to think urgently.

Is there something you can do to help the client recognize scarcity and urgency?

Episode Resources:

Check out our Facebook Group, The Sales Evangelizers

Join the TSE Hustler’s League.

Get a free audiobook download and a 30-day free trial at audibletrial.com/tse with over 180,000 titles to choose from for your iPhone, Android, Kindle or mp3 player.

What do you like about our podcast? Kindly leave us some rating and/or review on iTunes. This would mean so much to me.

TSE Hustler's League, Donald Kelly, The Sales Evangelist, Scarcity

TSE 670: TSE Hustler’s League-“Creating Scarcity”

TSE Hustler's League, Donald Kelly, The Sales Evangelist, ScarcityHow do you increase urgency in your sales process without sounding too pushy? This and more in this episode of the TSE Hustler’s League.

Today, I’m sharing with you how you can recognize the power of scarcity. Regardless of what you’re selling, there’s an opportunity to implement scarcity.

Creating a Sense of Urgency

  • The usual scenario is that we send a proposal. Then we get into this waiting game. But waiting doesn’t work.
  • Don’t be afraid to ask bold questions. You can’t lose something that you don’t have.
  • Don’t be afraid that your clients are going to be mad.
  • Master the appropriate questions to get to the client’s root problem.

The Real Problem Is You

Many sellers have so many excuses as to why the deal didn’t go through (ex. the prospect doesn’t want to talk or they’re not ready to do anything right now). The problem is you.

The Power of Empathy

Think about them, what they need the most and how you can help them with that.

Creating Urgency through Scarcity

How much scarcity did you create in this deal? Scarcity means that when a person thinks it’s running out, they want it more. So when the item is perceived as being scarce, it’s subjective value increases.

In your sales process, find a way that you can create scarcity. Figure a way where your prospect needs to have it now. Find a way to create urgency early on in your sales process.

Episode Resources:

Join the TSE Hustler’s League.

Get a free audiobook download and a 30-day free trial at audibletrial.com/tse with over 180,000 titles to choose from for your iPhone, Android, Kindle or mp3 player.

What do you like about our podcast? Kindly leave us some rating and/or review on iTunes. This would mean so much to me.

Scarcity, Donald Kelly, The Sales Evangelist Podcast

TSE 577: How to Incorporate Scarcity When Selling

Scarcity, Donald Kelly, The Sales Evangelist PodcastToday’s episode is about scarcity, why it’s important, and how it can actually help you even when you’re selling. One of the members in our Facebook group, The Sales Evangelizers, actually posted this question concerning scarcity so I want to specifically touch on this today.

Not only in the real estate world, there are so many industries wherein buyer have so many options so they don’t necessarily need you or your company since they can find the same thing elsewhere. So how do they do business with you?

A Scarcity Study

A study done in 1977 and published in the Journal of Personality and Social Psychology entitled Physical Barriers and Psychological Reactance: Two-Year-Olds Response to Threats to Freedom where the researchers took a group of 2-year-old kids and took two cool toys, putting on behind a clear plexiglass and the other right next to the plexiglass. The bigger kids were able to reach over the plexiglass and get access to the toy while the others had to walk around to get access to the toy. The toy that was out of reach actually drew the most attention to those who didn’t have the capability of reaching over to get access to the toy. So why didn’t they just grab that toy next to the plexiglass to save them of all this time and effort?

The same thing applies to us and the buyers we’re going after. In real estate, for example, people can sell their houses anywhere and there different resources and companies that can help you sell your house. But what can you do to bring in scarcity to they want to work with you as a realtor or as a seller?

Value through Education

We have to be masters at providing value to our clients through providing education. No two sales are created equal. Figure out a way for you to convey to your prospects the importance of education you have to offer. This could be in the form of blogs, website, or by addressing the topic straight up.

The Potential of Loss

People actually pay more attention to what they may lose as opposed to what they may gain. They are more willing to focus on things where there is a loss tied to it. So try to figure out a way to provide good education either through video or content or when you’re meeting with the prospect. Formulate questions you can ask to educate them and show them that you have knowledge of your industry and the potential of losing.

People hate losing money. Find a way where you can talk about the things they could lose and make them think about the potential of losing something.

Incorporate Deadlines

Another tool you can use to present value is through incorporating time in your sales process. If possible, present studies that are able to show how, for example, a house in the market for an x amount of time would decrease in the potential sale price and then show them how you have sold homes with an x period of time which is outside of that range, hence their house won’t decrease in potential value.

Scarcity of People You Work With

You may also make your clients understand that you only work with x amount of clients at any given time or talk about the clients you’re working with. Talk about the limit of people you can work with.

Do you have any idea of how you create scarcity? I’d love to hear your thoughts about this topic. Simply go to The Sales Evangelizers and drop us a line or two.

Episode Resources:

The Science of Selling by David Hoffeld

Join our Facebook group, The Sales Evangelizers

Get a free audiobook download and a 30-day free trial at audibletrial.com/tse with over 180,000 titles to choose from for your iPhone, Android, Kindle or mp3 player.

Physical Barriers and Psychological Reactance: Two-Year-Olds Response to Threats to Freedom