Researchers Ashwani Monga from the University of Texas San Antonio and Rui Zhu at Rice University have concluded that consumers' reactions to a difference in price can depend on how it is framed.
Their paper titled "Buyers versus Sellers: How They Differ in Their Responses to Framed Outcomes" suggests that buyers are prevention focused and consequently place a greater emphasis on loss-related frames whereas sellers are promotion focused and place a greater emphasis on gain-related frames.
Additional research devoted exclusively to the psychology of persuasion has discovered how to increase the likelihood of hearing “yes” to a request, sometimes by as much as 300-400%, not by changing the actual merit or recommendation, but by changing only the way it is presented.
How are you presenting your products or service offerings to your prospects and customers? Are you trying to influence their buying decision by highlighting what they will gain from them? Or are you presenting them in terms of what they will lose by not acting?
The fear of loss is a much greater influencer than the possibility of gain.
Ask your prospects and customers questions that create a dialog around loss prevention. Use questions that address loss of production, profitability, opportunity, their social or professional standing, or loss caused by procrastination. You'll experience greater results.
Give it a try..... What do you have to lose
To your success!
Glenn Bouthillette
Glenn is a results oriented sales executive in one of the most successful and admired equipment dealership organizations in the world and a 6 Advisors™ sales coach. To learn more about the 6 Advisors™ sales coaching system contact Glenn via e-mail at glenn@iexceltoday.com.
Increase Your likelihood of Hearing "Yes" By 300-400%