Emotions That Sell, Part 2Written by Lisa Packer
In an earlier article, we looked at three emotions (besides fear and greed) that you can use to connect with your prospects and enrich your marketing campaigns. This time, we're digging a little deeper into sales psyche. See if you can "connect" with these feelings:Nostalgia: Remember how wonderful things were back in "good old days?" Whether those days were really "good" or not, we have a deep-rooted connection to our past. The smallest things -- an aroma, a song -- can bring back memories so powerful, it's as if moment just happened. People will spend all kinds of money to stay connected to good memories. Is there some way your product or service can make that connection? Or is there just some way to make that connection, then apply it to your product? Car companies do it by playing classic rock music in their commercials -- even though a new Buick has nothing to do with your teenage years.
| | Why You BuyWritten by Steve Gillman
Behavioral economics is a new science that sheds light on some of our most important decisions. It is study of how and why people make money-related choices. Here are some of things studies have shown thus far: Decision Paralysis One study showed that customers spent more when given four samples of jam to taste than when they had twenty to choose from. Too many choices seemed to lead to an inability to decide. Limiting options may be a useful sales technique, according to this research finding. Sunk-Cost Fallacy People are more likely to attend an event if they paid for ticket than if they got it free, even with same information and interest. The money is spent, and logically has no relevance to decision, but this phenomena of behavioral economics persists even when this is pointed out. Aren't most of us going to feel worse throwing away a ticket we paid for? The applications are obvious, if you look. Perhaps, for example, rather than giving away tickets to "get rich" seminars, organisers would get better attendance by selling their "$100" tickets for $3. Just having paid something makes people more likely to attend.
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