Summary: Psychology of Selling by Brian Tracy
Summary: Psychology of Selling by Brian Tracy

Summary: Psychology of Selling by Brian Tracy

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Inner Game of Selling

  • Top 20% of the salespeople make 80% of the money. Bottom 80% makes 20%.
  • Do small things consistently over and over again. Remember you’ve to be a little bit better and different in each of the key result area.
  • Small increments of skills or abilities accumulate and give you winning edge.
  • Use more of your potential. Average person never uses more than 10%, remaining 90% of his potential remain untapped.
  • Don’t hesitate to approach top people because they’re usually willing to help.
  • Your self-concept is a bundle of beliefs you have about yourself. It’s the OS that determines everything you say, think, feel and do.
  • There’s a direct relationship between your self-concept and your performance.
  • Best time to make a sale is right after you make a sale because your self-esteem roars and you feel like winner.
  • Remember rejection is not personal. When they’re rejecting, they’re rejecting what’s on the table, not you.

7 Key Result Areas in Selling

  1. Prospecting
  2. Building Rapport
  3. Identifying Needs
  4. Presenting
  5. Answering Objections
  6. Closing the Sale
  7. Getting Resales and Referrals

Set and Achieve All Your Sales Goals

  • Top salespeople are extremely goal-oriented.
  • They know in advance how much they’re going to earn. After all, you’re not going to hit the target you can’t see. Even if you fail to achieve, it’s still better than having none at all.
  • Determine specific activities in which you must engage to achieve your desired sales level, number of calls, appointments, presentations and callbacks.
  • Visualization is most powerful skill you can develop. See yourself as absolutely excellent in prospecting, presenting and closing seas.

Why People Buy

  • Your choice of questions is often key to identify needs correctly.
  • Fear of loss is 2x more powerful than desire for gain.
  • Best sales presentations show simultaneously how much better to buy and how much worse if they don’t buy.
  • People decide emotionally and then justify logically.

Reduce the Fear of Buying

  1. Offer risk reversal (return, money-back…)
  2. Keep freebies with high perceived vale

Creative Selling

  • What are 5 most attractive features of your product?
  • What specific needs of your prospect does your product satisfy?
  • What does your company offer that others don’t?
  • If you brainstorm 250 ideas every year, it would have a tremendous impact on your life. You’ll become one of the most creative and successful salespeople in your field

Getting More Appointments

  • Break prospect preoccupation – say “I need 2 minutes of your time. Is this a good time to talk?” Only when he agrees, begin your pitch.
  • Sell appointment, not product.
  • Choose your words carefully – keep it benefit-centered without directly mentioning your product or service.
  • Always aim to trigger responses like “Really, how’d you do that?”
  • Use these to capture attention of your prospect “There’s something I need to show you. You need to see it personally. Would Tuesday 9AM be a convenient time for you?”

Prospect needs to be sure of 5 things before he agrees an appointment

  1. You have something important for him.
  2. He’s speaking to the right person.
  3. It will be brief.
  4. He will not be placed under any obligation.
  5. You won’t use any pressure.

Power of Suggestion

  • We’re greatly influenced by suggestive elements from people around us, their appearance, voice and attitude
  • 95% of impression comes from your clothing. It’s then imperative to dress well, use noncolorful and attractive visual, have presentation material that’s clean and neat
  • Treat someone as though they’re a millionaire or potential millionaire. Whenever you do so, you raise the self-esteem of another person and yours.

Making the Sale

  • Most prospects have generalized sales resistance. It’s normal and form of self-defense.
  • Instead of fighting it, understand it and work to break down their barriers.

2 Ways to Deal with Sales Resistance

  • Approach close – Instead of letting your prospect say “Let me think about it” and that being the end of it, say, “Relax, I’m not trying to sell you anything right now. That’s not the purpose of my visit.” “All I ask is you look at what I have to show you with an open mind, determine if it applies to your situation, and tell me at the end of our conversation if this product makes sense.
  • Demonstration close – Open with “I could show you the best on the market today, are you in the position to invest right now?

6 Types of Buyers

  1. Apathetic buyer – Instead of trying to change his mind, save yourself time and move on.
  2. Self-actualizing buyer – Know exactly what they want. Don’t lose this unicorn prospect.
  3. Analytical buyer – Self-contained and task-oriented. Slow down and be exact with these prospects. Be able to prove on paper everything.
  4. Relater buyer – Gravitate toward ‘helping’ professions and like to be liked.
  5. Driver buyer – Direct, impatient and concise. Get straight to the point.
  6. Socialized buyer – Achievement-oriented. Once you’ve an agreement, put it on paper.

3 Part Presentation

Because of this (product feature), You can (product benefit), Which means (customer benefit)

5 Keys to Effective Listening

  1. Listen attentively
  2. Pause Before Replying
  3. Question for Clarification
  4. Paraphrase in Your Own Words
  5. Use Open-Ended Questions

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