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How to Use Psychology to Boost Sales, Part 1

January 28th, 2013 ::
This entry is part 2 of 2 in the series Using Psychology to Boost Sales

psychologyI majored in business administration, and looking back, it amazes me that at least one psychology class wasn’t a required course for business majors – especially those of us focusing on marketing. So much of marketing and sales is based on what people respond to – which of course has its roots in psychology.

So I was delighted to stumble across a great infographic on the SocialFresh blog called “10 Ways to Convert More Customers Using Psychology.” If you have a chance to check it out, do, but if you don’t, you can rest easy knowing I did the work for you.

Here are the first 5 ways to turn a no (the problem) into a yes (the solution):

Problem: Action paralysis, in which we avoid making a decision for no good reason

Solution: Set minimums that are easy to attain.

Example: Purchase 2, get 1 free; First month free

Problem: Not feeling special; just feeling like a number

Solution: Label your customers so they feel like part of a special group.

Example: VIP; platinum, gold, silver levels

Problem: Convincing tightwads to open their wallets

Solution: Since tightwads (yes, that is an actual psychology-based term) make up 24% of buyers, you need to appeal to them by reframing the value of your product or service.

Example: Bundle products for a better price, reframe value ($2 per week instead of $110/year), roll fees into the price

Problem: Not admitting to fault

Solution: Because buyers trust companies who admit a problem is their fault, take the blame, even if it’s not your fault (really!).

Example: If a product is not available temporarily because shipment from a vendor is delayed due to a manufacturing problem, apologize and explain what you’re doing to fix the situation.

Problem: Incomplete calls-to-action (CTA)

Solution: Sales messages that convey urgency and scarcity work, but only if buyers are told how to make the purchase.

Example: Add a phone number, email address, or link to a landing page in your CTAs.

Look for my next blog post, in which I share the final 5 ways to turn no’s into yes’s.

What are your favorite tricks and tips to boost sales?

Image courtesy of psy.ed.ac.uk

Series NavigationHow to Use Psychology to Boost Sales, Part 2
The views expressed here are the author's alone and not those of Network Solutions or its partners.

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Posted in Marketing | 1 Comment »

  • MistyUSANA

    Great article, Monika! What has worked at USANA is really selling home the fact that our products are scientific-based and proven effective. We have gold medal athletes using our products and posting how good they feel after taking them. It helps to have that third party credibility.