To be a successful entrepreneur, it is imperative that you understand and use sales psychology. Internet Marketing gurus have this ability honed to an art form. Sales psychology is an advantage whether you are in a conventional brick and mortar business or an online one. The great thing is that sales psychology is not difficult to learn. Essentially all you need to do is put yourself in the place of the prospective buyer.
One aspect of sales psychology is that people respond to specifics more than generalities. If you sell photocopy machines, saying a particular unit is a high-speed duplicating machine is not impactful. But if you say that your machine produces 10 sheets of A4-sized copies in 12 seconds with the ability to automatically collate documents into correct order, then it seems more impressive. In sales, rounding off figures dilutes its impact so state numbers without rounding off. Of course, the facts and figures must be believable.
This aspect of stating things in specific terms also applies to targeting your prospects. People must know whether your product or service is for them or not. Hence, the term ‘Home Owners’ is not as good as ‘Gardening Enthusiasts’. And ‘Gardening Enthusiasts’ is not as specific as ‘Tropical Plant Lovers’.
Another aspect of sales psychology is that people are interested in how they can benefit from your product or service more than what the product can do. In other words, benefits always win over features. For example, if you sell pianos, tell the prospect that giving his child a piano today will enable the child to have a career in music in future. This is far better than to use the old cliche, ‘Give your child the gift of music’ or to stress the features of the piano. It is important to mention features because people must know what they are buying but the trigger that makes them buy is always the benefit not the feature.
Sales psychology also takes advantage of human individuality. Everyone likes to feel special. So the smart entrepreneur would make his prospect feel exclusive. That is why Internet Marketers present a product in ‘beta’ version that is in pre-launch and tell their prospects they are the exclusive few who get to purchase it. But after sales for the beta version is successful, the product will be released to the general public, often at a higher price. So three elements, the timing (it is pre-launch), the version (beta) and the price (cheaper) combine powerfully to create the sense of exclusiveness.
In an increasingly competitive business environment, smart entrepreneurs utilize sales psychology triggers to get their prospects to buy from them. Therefore in whatever you sell, always use as many of these elements of sales psychology as possible.