Category: Sales

7 Selling Tips Inspired by Basic Psychology

Posted by: Agent Hub

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One thing nearly all great salespeople have in common is the ability to use psychology to their advantage. Some of them may just have a natural knack for tapping into the psyche of their customers, but many of them learned this over time — through experience and education.

There are many psychology-based sales books out there, but if you are looking for a quick guide to selling tactics inspired by basic psychology, read our seven tips below.

Differentiate Yourself from Others in the Industry

A great way many companies sell more of their products and services is by differentiating themselves from others in the industry. While you don’t want to overdo this one — you could risk positioning yourself as a business built by bashing other businesses — it can be helpful to follow this tactic if done carefully.

One big example can be seen in the modern commercials made by Apple, in which iPhones and MacBooks are compared directly to other industry products on-screen. Part of the campaign’s success comes from showing Apple as a unique product that has many benefits other products don’t. This is the key: show your customers how you are different from others in the industry by the amount of benefits they will receive by going with your agency over someone else’s.

Avoid Putting Too Much Pressure on Prospects

If there’s one thing most people hate about salespeople, it’s likely the pressure they place on customers and leads. Too much pressure can lead to customers feeling that closing the sale is more important to you than finding the right coverage. Work to find the right balance of assistance and guidance when necessary, while also letting your prospects decide for themselves.

View Shortcomings as Opportunities to Show Strengths

From time to time, issues may come up when a sale doesn’t go as planned or a few customers are unhappy with your agency’s services. According to a few studies by a social psychologist, one key way you can continue to retain these customers is by admitting faults. Turns out, customers are OK with businesses making mistakes … so long as they show how they are working to resolve them. Instead of saying, “It wasn’t our fault” or placing the blame on someone else, talk about solutions and how you are working toward improvements.

Describe Your Agency’s Values

People like building relationships with other people who share the same values, so it’s no surprise that the same applies to the types of businesses people want to buy from. By focusing on your agency’s values, you can better create connections with your customers. Whether your top value is a positive attitude, 100 percent honesty, or to be the most efficient agency in town, bring your agency’s values into conversations when applicable and add them to your agency website’s About page.

Give Your Customers Fewer Options

Although a la carte options work for some people, most people can become quickly overwhelmed if you present them with too many options. Sometimes, less is more. When you have figured out what your customers need most for their particular situation, you are better able to offer them two or three great options — rather than 10 widely different ones. This also will likely help them make their decision faster, which helps you close the sale sooner as well.

Be Honest

It’s a well-known truth in networking that people like to do business with other people. This means that they will be more likely to purchase products and services from an agency that acts more human, and less business-like. Aim to be as honest, transparent and direct when providing suggestions for coverage or other insurance advice.

Try to advise them on what you would do as a person, which may not necessarily bring you or your agency the highest in premiums. Your customers will thank you for it, and many of them will continue coming to you or recommend you to others they know, all because they trust you.

Know Personality Traits

Dating back to the 1920s, a personality trait assessment called DISC has been used by many psychologists. The four letters stand for four basic personality traits that differentiate one type of person from another: dominant, inspiring, supportive, cautious. Knowing these four traits and how they are typically demonstrated in real life can help you tweak your sales tactics and approach. You might even discover that your own personality traits lead you to approach sales in a certain way that may need adjusting when talking with a customer who has very different traits from yours.