Expert salesmen around the world believe that there are no bad products and no products that can not be sold, but only salesmen with bad sales strategies who don’t know how to sell. Sales strategy involves understanding the psychology of customers and then using that understanding to sell the products to the customer. Sales experts believe that with a proper understanding of the customer’s psychology and with knowledge of how to use them, anything can be sold. Particularly when your products are also good and satisfy customers needs well, achieving good sales should only be a matter of time. Given such importance of psychology, read on and learn some strategies based on psychology.
Table of Contents
- Cross Selling
- Influencing The Subconscious Mind
- Establishing Common Beliefs And Values
- Hiding The Best
- Related Selling
- Store’s Layout
- Trust Building Measures
- Final Words
Cross Selling
In the Wal-Mart supermarket in the United States, beer and diapers are sold together, which increases the sales of diapers and beer. HOW? The reason is that American women ask their husbands to buy clothes for their children. Thus diapers are a product of necessity and people will not avoid them to cut down expenditure and will instead come especially to buy them. On the other hand, beer is a luxury product due to which people may avoid thinking of buying it to cut their expenditure. A lot of people may not visit your store specially to buy beer, but people do come to buy diapers regularly. When beer is placed along with diapers, the beer catches the eye of the customers and their chances of buying it inadvertently increase. This is known as cross-selling.
Influencing The Subconscious Mind
Drink advertisements often show positive and enthusiastic scenes such as beaches and friends. Having watched this advertisement, again and again, customers’ subconscious minds will start to associate drinks with beaches and friends. Once in this scene, a sudden thought will pop up in the mind of customers: “I need a drink”.
Establishing Common Beliefs And Values
At first, black pearls were not easy to sell. Many people thought they were not good in colour, being grey and dark. Later, the merchant placed the black pearl in Fifth Avenue’s window and marked an incredibly high price. He continuously advertised the black pearl against the diamonds and gems. This marketing strategy influenced the customer’s psychology and the pearl was hailed as a rare treasure overnight.
Hiding The Best
The customers always especially come to the shop to buy popular and best-selling products. You can harness understanding by placing the best selling products in the store’s innermost part. This helps stimulate more sales because when the popular products are placed in the front area of the store, the customer will simply pick them and leave the store. However, if they are placed in the innermost part, the customer will have to travel through the entire store to find those products. During this small journey, their eyes will fall upon a lot of other products which they may consider buying.
Related Selling
In a similar way as cross-selling, interrelated items can be placed together. The customers who have come to buy one product will see a lot of related products and will suddenly realise a lot of their needs. This may stimulate them to buy more.
Store’s Layout
There are always snacks in front of the cash counter. This stimulates you to buy things you didn’t plan to buy. The store layout structure is carefully set up, and every effort is made to induce customers to spend more money.
Trust Building Measures
Use customer reviews to influence potential customers’ decisions. Most people have a herd mentality, so when buying a product, the comments of other people who have bought the product will greatly influence potential customers’ purchase decisions. Therefore, your website should have more than six or seven good comments from customers on the product for each product.
Final Words
The above mentioned strategies are a few good ones among the many sales strategies based on consumer psychology. You can use these strategies in your business and can also use them as a guide to understanding how psychological understanding can be used to develop sales strategies. With this powerful understanding, you can also develop your own sales strategies and be atop your competitors in the market.