The document discusses the psychology of sales and provides 10 rules for effective selling. It notes that more startups fail due to a lack of customers than product failures. Both emotions and logic influence purchasing decisions, with emotions like desire, fear, and cultural norms playing a role. The challenge is resolving the tension between wants/needs and fears/doubts. The 10 rules include understanding the audience, focusing on value over price, managing one's own fears and confidence, and making an emotional connection to build trust and liking.

1. The Psychology of Sales
Chris Burry
Co-CEO US Market Access Center

2. or
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Which Outcome Do You Want?

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
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4. People utilize both emotion
and logic when buying
Emotions
 Desire / want / pain
 Fear / uncertainty / doubt
 Culturally dependent
Logic = Justification
 Not always logical
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The basic psychological challenge in selling

5. Common wants / needs
1. Love
2. Wealth
3. Praise
4. Comfort
5. Safety
6. Give me more…
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People are always looking for something
Emotions
Logic

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?
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Want / need is counter-balanced by FUD
Emotions
Logic

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?
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FUD can help you too
Emotions
Logic

8. In my career, I have lost more
sales to one competitor than
any other than any other
Any guesses?
Do Nothing
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The most common ‘competitor’
Emotions
Logic

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
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How do we get past do nothing?

10. Chris’s simple rules for selling:
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Ok, so now what do I do?

11. People have emotions
Ignore the emotional
component of sales at
your peril
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Rule # 1 –You are selling to people NOT machines

12. You must ‘get to know’ what motivates them,
what they want, what they fear and their cultural
and societal norms.
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Rule #2 – You must know your audience

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
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Rule #3 – People do business with people they like

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?
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Rule #3 – People do business with people they trust
Bonus Topic – Watch this TED Talk
Paul Zak: Trust, morality -- and oxytocin?

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
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Rule #4 – Don’t give them too many choices

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
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Rule #5 – Focus on Value not Price

17. You get to ‘propose
value’
The customer gets to
‘decide value’
But… you can offer a
framework that helps the
customer decide
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Rule #6 – Value is Defined by the Customer

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.
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Changing gears

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
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Rule #7 – Your attitude matters!

20. Selling involves rejection
Most people fear
rejection
That fear stops them
from selling
Success in selling means
managing your fear
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Rule #8 – Manage your fear
How do you avoid losing to ‘do nothing’

21. Again, selling is about
humans
Making a connection
enables ‘like’ and ‘trust’
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Rule #9 – Make a connection

22. Learn from your
successes
Learn from your
failures
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Rule #10 – Learn from each sales call

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Questions?

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
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