Selling – Desire for profit – Fear of loss
There are mainly two fundamental factors that control your prospect’s buying decision: the desire to win and the fear of losing.
When people want to make a buying decision, they need to decide that they will be better off as a result of buying or using your product or service, rather than worse off. And it’s up to you to help them make that decision through your presentation.
Selling, desire for profit and fear of losing are three concepts that are interrelated, and the nature of the relationship between them in each specific case determines whether the sale will be made or not.
Desire to gain simply represents the things that we hope to gain as a result of making the purchase decision. We all want to be admired, loved, respected, successful, and healthy. We all want prestige, recognition, social status, power, influence and popularity. We all want comfort, security, companionship, knowledge, security, and self-realization. We all want to feel like we are growing towards our full potential. The more of these we can obtain as a result of the purchase of some product or service, the more likely it is that we will make the purchase decision.
Fear of loss simply represents the things that we hope to gain as little as possible as a result of buying some product or service. You can think of them as simply the opposite of the examples given above. For example, when we buy something, we want everyone to admire us for what we bought, and we never want anyone to tell us that we made a bad decision. We never want to part with our money to earn something that will give us nothing or just a few of the things we like.
The relationship between the fear of loss and the desire for profit in the case of each specific transaction and each specific person determines whether or not the person will make the purchase decision.
When you do a sales presentation, if the person says that, “Let me talk it over with someone.” or, “I’m not sure,” what they’re saying is, “You haven’t aroused my desire to own or enjoy the benefits of your product to the point that you have overcome my fear of losing, or making a mistake.” or “You haven’t given me enough value reasons to make me decide to buy. My fear of loss is still greater than my desire to win, and it’s up to you to put more on that scale to add more to my desire.” to win, and to take away the fear of loss”.
So if you want to make the sale, you should always talk to your prospect in terms of what they want, not in terms of your product. You need to analyze the person and understand what is important to them, and then pinpoint the features of your product that are of particular interest to them. Or if you have a good understanding of your product, you could remind them that it could also be used to meet such and such needs that are, by the way, important to you.
Most of the people usually use a digital camera to take pictures. If you, as a salesperson, were talking to a common consumer and you want to convince them that they should buy the camera, you could talk about, for example, the quality of the image or the number of pictures they could take before having to. recharge the battery etc. But if you were selling the same camera to a businessman, those reasons might be interesting to him, but not interesting enough. Then it could include the fact that they could also use the camera as a video camera, record videos, upload them to the Internet, and ultimately earn money. In either case, the camera doesn’t change, but you need to change your presentation so you can make the sales. In short, you need to figure out the reasons that are interesting and important to them, and then structure your presentation around those specific reasons. Also, you need to make sure that your presentation succeeds in reminding them that the desire to win dominates over the fear of losing so that they can easily make the purchase decision. Thanks for your attention.