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The Psychology of Sales
Chris Burry
Co-CEO US Market Access Center
or
© USMAC 2013
- 2 -
Which Outcome Do You Want?
Just a quick review….
More startups fail
from
a lack of customers
than from a failure of
product development
And to get cu...
People utilize both emotion
and logic when buying
Emotions
 Desire / want / pain
 Fear / uncertainty / doubt
 Cultural...
Common wants / needs
1. Love
2. Wealth
3. Praise
4. Comfort
5. Safety
6. Give me more…
© USMAC 2013
- 5 -
People are alway...
Fear, uncertainty and doubt are
central to stopping sales:
1. Am I paying to much?
2. Will the product work?
3. Will it de...
1. What if the price goes up?
2. What if they sell out?
3. If I don’t buy it and my
competition does will I
lose?
4. Can I...
In my career, I have lost more
sales to one competitor than
any other than any other
Any guesses?
Do Nothing
© USMAC 2013
...
People use logic (often faulty)
to rationalize and justify their
decisions.
It is the process of resolving
the split betwe...
Chris’s simple rules for selling:
© USMAC 2013
- 10 -
Ok, so now what do I do?
People have emotions
Ignore the emotional
component of sales at
your peril
© USMAC 2013
- 11 -
Rule # 1 –You are selling t...
You must ‘get to know’ what motivates them,
what they want, what they fear and their cultural
and societal norms.
© USMAC ...
I learned this from Jeffrey
Gitomer.
If they don’t like you, they
aren’t going to buy from
you.
More relevant to in-pers...
If they don’t trust you,
they aren’t going to
buy from you.
How are you going to
get your customers to
trust you?
© USMA...
People get ‘stuck’
when presented with
too many options
They want some
choice, but not too
much
Remember that ‘do
nothi...
This is why we talk
about a “Value
Proposition” not a
“Price Proposition”
Selling is helping your
customer find value
T...
You get to ‘propose
value’
The customer gets to
‘decide value’
But… you can offer a
framework that helps the
customer d...
I have talked a great deal about
what is happening in the customer’s head.
Not let’s talk about
what is happening in yours...
If you aren’t confident,
they will sense it (and not
trust you)
If you give off ‘negative
energy’ they will sense it
(an...
Selling involves rejection
Most people fear
rejection
That fear stops them
from selling
Success in selling means
manag...
Again, selling is about
humans
Making a connection
enables ‘like’ and ‘trust’
© USMAC 2013
- 21 -
Rule #9 – Make a connect...
Learn from your
successes
Learn from your
failures
© USMAC 2013
- 22 -
Rule #10 – Learn from each sales call
© USMAC 2013
- 23 -
Questions?
Let’s Connect
US Market Access Center
10 South Third Street, 3rd Floor
San Jose, CA 95113
Our Headquarters
facebook.com/us...
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The Pyschology of Sales

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Chris Burry @ European Innovation Academy Summer Session 2013

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The Pyschology of Sales

  1. 1. The Psychology of Sales Chris Burry Co-CEO US Market Access Center
  2. 2. or © USMAC 2013 - 2 - Which Outcome Do You Want?
  3. 3. Just a quick review…. More startups fail from a lack of customers than from a failure of product development And to get customers we need to SELL © USMAC 2013 - 3 -
  4. 4. People utilize both emotion and logic when buying Emotions  Desire / want / pain  Fear / uncertainty / doubt  Culturally dependent Logic = Justification  Not always logical © USMAC 2013 - 4 - The basic psychological challenge in selling
  5. 5. Common wants / needs 1. Love 2. Wealth 3. Praise 4. Comfort 5. Safety 6. Give me more… © USMAC 2013 - 5 - People are always looking for something Emotions Logic
  6. 6. Fear, uncertainty and doubt are central to stopping sales: 1. Am I paying to much? 2. Will the product work? 3. Will it deliver the value promised? 4. Can I afford it? 5. Is there something better? © USMAC 2013 - 6 - Want / need is counter-balanced by FUD Emotions Logic
  7. 7. 1. What if the price goes up? 2. What if they sell out? 3. If I don’t buy it and my competition does will I lose? 4. Can I afford it? 5. Is there something better? © USMAC 2013 - 7 - FUD can help you too Emotions Logic
  8. 8. In my career, I have lost more sales to one competitor than any other than any other Any guesses? Do Nothing © USMAC 2013 - 8 - The most common ‘competitor’ Emotions Logic
  9. 9. People use logic (often faulty) to rationalize and justify their decisions. It is the process of resolving the split between Want / Need vs. Fear, Uncertainty and Doubt © USMAC 2013 - 9 - How do we get past do nothing?
  10. 10. Chris’s simple rules for selling: © USMAC 2013 - 10 - Ok, so now what do I do?
  11. 11. People have emotions Ignore the emotional component of sales at your peril © USMAC 2013 - 11 - Rule # 1 –You are selling to people NOT machines
  12. 12. You must ‘get to know’ what motivates them, what they want, what they fear and their cultural and societal norms. © USMAC 2013 - 12 - Rule #2 – You must know your audience
  13. 13. I learned this from Jeffrey Gitomer. If they don’t like you, they aren’t going to buy from you. More relevant to in-person sales than on-line Like comes before trust © USMAC 2013 - 13 - Rule #3 – People do business with people they like
  14. 14. If they don’t trust you, they aren’t going to buy from you. How are you going to get your customers to trust you? © USMAC 2013 - 14 - Rule #3 – People do business with people they trust Bonus Topic – Watch this TED Talk Paul Zak: Trust, morality -- and oxytocin?
  15. 15. People get ‘stuck’ when presented with too many options They want some choice, but not too much Remember that ‘do nothing’ is always the default choice © USMAC 2013 - 15 - Rule #4 – Don’t give them too many choices
  16. 16. This is why we talk about a “Value Proposition” not a “Price Proposition” Selling is helping your customer find value The increase in value must offset the FUD © USMAC 2013 - 16 - Rule #5 – Focus on Value not Price
  17. 17. You get to ‘propose value’ The customer gets to ‘decide value’ But… you can offer a framework that helps the customer decide © USMAC 2013 - 17 - Rule #6 – Value is Defined by the Customer
  18. 18. I have talked a great deal about what is happening in the customer’s head. Not let’s talk about what is happening in yours. © USMAC 2013 - 18 - Changing gears
  19. 19. If you aren’t confident, they will sense it (and not trust you) If you give off ‘negative energy’ they will sense it (and not believe you) You have to learn to listen © USMAC 2013 - 19 - Rule #7 – Your attitude matters!
  20. 20. Selling involves rejection Most people fear rejection That fear stops them from selling Success in selling means managing your fear © USMAC 2013 - 20 - Rule #8 – Manage your fear How do you avoid losing to ‘do nothing’
  21. 21. Again, selling is about humans Making a connection enables ‘like’ and ‘trust’ © USMAC 2013 - 21 - Rule #9 – Make a connection
  22. 22. Learn from your successes Learn from your failures © USMAC 2013 - 22 - Rule #10 – Learn from each sales call
  23. 23. © USMAC 2013 - 23 - Questions?
  24. 24. Let’s Connect US Market Access Center 10 South Third Street, 3rd Floor San Jose, CA 95113 Our Headquarters facebook.com/usmarketaccess @usmarketaccess linkedin.com Groups – US Market Access Center San Francisco Palo Alto San Jose +1 (214) 673-5187 Phone cburry@usmarketaccess.com Email Chris Burry Co-CEO Contact www.usmarketaccess.com © USMAC 2013 - 24 -

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