The importance of Understanding the Sales Psychology.
Understanding the sales psychology will help you influence the purchase decision, close more deals, increase profits and build a client base that wants to do business with you.
The sales psychology is, in a nut shell, a description of how people buy, how people make purchase decisions and how your marketing tools will help influence their decision to choose you above your competition regardless of price.
Who Should Sell and Who Should Market Your Business
It is necessary to know that no matter what you do within your business or a business where you are employed you are in the business of Marketing and Sales.
From a marketing standpoint:
Your representation of the company or the brand is a form of marketing and and you have the potential of doing a good job presenting the brand or you could be damaging the brand.
From a Sales Standpoint:
If should be considered that every member of staff plays a role in sales. Even if you are not able to close deals you are in the lead generation and client nurturing process.
I don’t believe that there is any middle ground with the roles of sales and marketing especially if you have any interaction with clients.
Your see clients will judge any interaction with your company no matter who they are dealing with, make sure all interactions between your company and clients is a positive interaction.
Understanding the Sales Psychology and the sales funnel
There are 7 parts to the sales psychology process that you should attend to in order to move your prospects and clients through the sales funnel. The 7 parts of the sales psychology aim to achieve the following
- Initially identifying a clients problem or need,
- Building trust with your brand,
- Becoming the solution to their problem or need.
- Closing deals
- Gaining additional business
The 7 parts of the sales psychology are:
know, like, trust, try, buy, repeat and refer
As you will see that from these 7 steps the first 3 parts, know, like and, trust becomes the marketing and promotional elements of your business and the next 4 parts form part of the sales process.
The Sales Psychology Step 1 – Know:
Getting people to know about your business, getting them to know about what you sell and more importantly how your products and services will become the solution to their pains and problems.
This is to establish the brand and the products so that clients start to know that you exist.
Getting prospects to know about your business is the promotional element of the Sales Psychology and this can be carried out
- above the line
- or below the line
or a combination of each depending on who your ideal client may be and where they spend their time.
The Sales Psychology Step 2 and 3 – Like and Trust:
The next 2 parts, like and trust, will help you build and solidify a relationship that is based on trust. This is achieved by giving the client enough information and education that will help them make an informed purchase decision.
Usually some kind of Marketing Automation strategy should be used to help manage the constant contact and on going communication and delivery of highly-valuable industry related content.
Your content strategy also comes into play here as scheduling the type content that related to buying cycles is vital in keeping clients engaged.
The Sales Psychology Step 4 – Try:
From here we move to the “try” part of the sales psychology. Depending on your business this may be the time a client requests a quote or books an appointment with you.
This can be seen as your clients testing you, your business and your offer. Make sure that this experience is top class because if they have a good experience the likelihood of a purchase increases.
The Sales Psychology Step 5 – Buy:
As you and your sales teams satisfies their prospects needs and delivers your solutions, your potential client make a conscience decision to buy from you. The purchase is only the beginning of the journey and all preceding steps must be seen as the prelude to the sale.
The Sales Psychology Step 6 – Repeat:
Now you need to work hard to keep your clients satisfied and identify up sell and cross sell opportunities that clients will find appealing. This is where you and your team will generate repeat business and increase the lifetime value of each client. This is where the real money is because it costs 60% less to get a past client to buy from you again than it costs finding a new client.
The Sales Psychology Step 7 – Refer:
The ultimate end to the sales psychology and client journey is to get clients to become raving fans of you and your services and refer you to other potential clients that will buy from your business.
Understanding the Sales Psychology Conclusion
Looking again at the structure of the sales psychology it becomes clear that no matter what you sell a potential client goes through these 7 steps that convinces them that they are making the right decision in choosing you as you have educated them with enough quantity and quality of information while they were deciding to make a purchase.
We want them to come to the conclusion that they would have to be an absolute fool to do business with anybody else but you regardless of price.
What becomes clear is that the first parts 3 of the sales psychology, the know, like, trust parts are about marketing and promotion and the next 4 parts, try, buy, repeat, refer, involve your sales process. Keeping in mind that all sales should be tackled with a marketing mindset as educating the client will build stronger relationships and make the sales process smoother and as it becomes rooted in integrity.