Monthly Archives: August 2017

Episode 203 – Price Psychology: 14 Techniques That Make Price A Non-Issue – Part 3

Reduce to the Ridiculousness (JND): This technique involves paring down your request to something that seems manageable, easier to comprehend or easier to monetize. Let’s say you are trying to convince someone to purchase a life insurance policy. The client wants a $250,000 policy and you feel that is not high enough for his needs. To adequately take care of his family, you suggest a $500,000 policy. His perception is that the monthly payment for a $500,000 policy is too high. So you break it down for him, telling him that for an extra 50 cents a day, or the cost of a can of soda, he can insure himself and adequately take care of his family if something were to happen to him. With this contrast, your client can see that the extra 50 cents is worth it to have the extra $250,000 in coverage. You have reframed your request into simple terms to help your prospect see it fitting into his way of life. If you are getting resistance from coworkers to participate in a new project, you could say we are only looking for your help for 10 minutes a day or 45 minutes a week.

 Many times, we can fly under the radar with the contrast principle. There is a theory called the “Just Noticeable Difference” (JND),  which means the minimum amount of difference in the intensity of the stimulus that can be detected. That means the minimal amount of change the brain can handle before it begins to notice.  What does this mean? How much can you raise the price of a product without anyone noticing? This is also true for taste. Companies want the best taste for the lowest cost. The quality of the ingredients causes people to notice or not notice the quality of the product.

 Many marketers would rather change the packaging and offer less of their product than resort to charging more. When we don’t notice the difference, we think we are getting the same deal. Watching a sunset would be below the JND.  We really can’t see the sun move down the horizon as we watch it. When you raise the price of a product, you don’t want anyone to notice. Gas prices going up another ten cents is not noticed unless it breaks the dollar threshold i.e. $4.00-$5.00.  Is the yogurt cup now 2.9 ounces or 3 ounces?  We don’t notice especially since the cup size has not changed, but the bottom of the cup is more concave.   

3 Negotiation Techniques from Harvard Business Review

 

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Episode 202 – Price Psychology: 14 Techniques That Make Price A Non-Issue – Part 2

“Door-in-the-face” is one of the most common techniques for implementing the Law of Contrast. Basically, an initially large and almost unreasonable request is made, likely to be declined?hence the “door slammed-in-the-face” as the prospect rejects the proposal. Then a second smaller and more reasonable request is made. People accept the second request more readily than if they’d just been asked outright because the contrast between the two requests makes the second one seems so much better. The technique is effective because social standards state each concession must be exchanged with another concession. When you allow a rejection, it is considered a concession. The person you are persuading will then feel obligated to agree with your smaller request.  The reason DITF is so effective is because society and the Law of Obligation direct us that each concession must be given a concession.  When you give them a concession they will be more inclined to give you a concession.

Demonstrating this point, researchers first asked college students to donate blood every two months for three consecutive years. Requiring a long-term commitment of not only time, but also of physical and emotional responsibility, the request was overwhelmingly turned down. The next day, the same students were asked to donate blood just one time, 49 percent agreed. The control group, where the students were only approached with the second request, (will you donate today) only demonstrated a 31 percent compliance rate.

The main reason the door-in-the-face technique is so effective is because the contrast between the two requests makes your prospects feel like they are getting more/or less than if you didn’t adjust their perceptions. They feel like they’ve made a fair compromise, while you get exactly what you wanted in the first place. 

Article: Smelling your food makes you fat

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Episode 201 – Price Psychology: 14 Techniques That Make Price A Non-Issue – Part 1

Never fight on price.  Price in not the issue ? you are the issue.  Only 6% of things are bought on price. Anybody can fight on price.  Let’s learn 14 techniques to make price a non-issue.

 “Price is what you pay. Value is what you get.”  Warren Buffett

 This is all about human perception. The human mind has to find a benchmark or comparison to make judgments, especially when we are talking about unfamiliar situations or new products. People need to make comparisons with their past experience and knowledge.

The brain will always attempt to contrast your product or service. Is it the best or worst, cheapest or most expensive? Is your product the safe or risky choice or is it familiar or strange?

By presenting your prospects with contrast, you are creating those comparisons for them. The mind can’t process everything at once and so it develops shortcuts to help make decisions. Instead of making a completely internal judgment, we look for boundaries, patterns, and polar opposites.

We want to know the difference between our options, so we naturally contrast the two items. We mentally create a value or price in our mind from highest to lowest.

Do you want your prospects to compare your product or service to a second-hand used car or to a Rolls Royce? You get to decide where you want them to start their benchmark.

Forbes-Leaders are Readers

Harvard Business Review = Cognitive Fitness

 

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Episode 200 – Words That Kill Persuasion And Words That Influence

Verbal Packaging  and The Leverage of Language

The more skillful a person is in the use of language, the more persuasive they will be. People are persuaded by us based on the words we use. Words affect our perceptions, our attitudes, our beliefs, and our emotions. The words we use in the persuasion process make all the difference in the world. Language used incorrectly will trigger the wrong response and decrease your ability to persuade.

Word skills are also directly related to earning power. Successful people all share a common ability to use language in ways that evoke vivid thoughts, feelings, and actions in their audiences.  Carl Jung revealed that all words are full of symbols and each symbol triggers an emotional reaction or feeling.  All words have emotional meanings that are different than their definitions in the dictionary.  Understanding words and their emotional triggers will enhance your ability to persuade and influence.

Word Choice  —

Article about REAL Scary In-Flight Announcements 

Understand that proper language varies from setting to setting, and from event to event. One word choice does not work in every circumstance or culture. Word choice can also be critical to defusing situations or in getting people to accept your point of view. Even one word can make the difference between rejection and acceptance. In a study by social psychologist Harold Kelley, students were given a list of qualities describing a guest speaker they were about to hear. Each student read from either one of the following two lists:

  1. Cold, industrious, critical, practical, and determined
  2. Warm, industrious, critical, practical, and determined

Of course, the students who read #1 had less than positive feelings about the speaker. The interesting thing, though, is that the lists are exactly the same except for the first word! They found that the first word at the front of the list conditioned how the student felt in reading through the rest of the list. It didn’t matter that none of the following words were negative. Just reading the word “cold” tainted how the students read the rest of the list.

As I mentioned the airline industry has mastered the power of words. They know word choice is critical to getting their point across and to reduce stress. In one situation, a flight attendant had run out of steak as an option for dinner entrée. Instead of telling the customers their only option was chicken, the flight attendant said, “You can have a piece of marinated chicken breast, sautéed in mushrooms in a light cream sauce, or a piece of beef.” Consequently, people chose the chicken because it sounded better. Think about the words next time you read a restaurant menu.

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                              Magnetic Persuasion – Create Instant Influence

Magnetic Persuasion is one of the most incredible courses I’ve ever released.

This program will give you a distinct advantage over your competition.

WHAT YOU WILL GET: 18 MP3 Audios, Manual & Application Guide

For a limited time, this is what you get with my Magnetic Persuasion Special:

Magnetic Persuasion Audio Boot Camp (18 MP3’s)
Next, we have Magnetic Persuasion Audio Boot Camp.  The easiest way to double your income is to double your persuasion skills.  Remember when you need to persuade someone, it is too late to learn.  Magnetic Persuasion is literally the difference between knowing what you want– and getting it, anytime, anyplace, from anybody. Create unimaginable wealth, transform your career, and strengthen your relationships. Magnetic Persuasion Audio Boot camp is the first and only resource to combine scientific research and documented studies into one comprehensive catalog of proven persuasion, influence, and motivation techniques.

  • Never be told “I can’t afford it again”
  • Effortlessly build rapport with any personality type
  • The 5 objections your prospects always have and how to overcome them
  • How to create huge value to eliminate price resistance
  • Create instant action through ethical urgency

Magnetic Persuasion Manual
The Magnetic Persuasion Manual has every piece of the persuasion pie. This manual is packed with over 15 years of scientific research and over 100 persuasion and influence tools. This includes over 344 pages packed with cutting edge research and application. You will learn about inoculation, Zeigarnik Effect, and advanced association triggers. You will also learn how color, touch, and smell affect every aspect of persuasion.

  • Know exactly what the person you want to persuade is thinking and feeling.
  • How to have absolute confidence in what you’re saying
  • Overcome objections before they are even brought up!
  • RESIST persuasion so you don’t fall into unethical traps!
  • Harness the 18 most powerful words and put them to use

Magnetic Persuasion Application Guide 
Next is the Magnetic Persuasion application guide. This will crystallize the use of Magnetic Persuasion. This comprehensive guide will help you implement the following:

  • The 12 Laws of Persuasion
  • Why 95% of persuasion involves a subconscious trigger
  • How to get the yes, when they say no.
  • Things you are saying, projecting and doing that repel your prospect
  • The Pre Persuasion Checklist

Magnetic Persuasion is one of the most incredible courses I’ve ever released.

This program will give you a distinct advantage over your competition.

As you learn these skills you will Master your life and increase your income. You will learn skills known only by the ultra-prosperous. You will learn and master a new skill everyday for a full year. Every situation, you’ll feel in control. You’ll know exactly what to say and do. So invest in yourself and your future.

You will not learn the old tired tactics of the Ben Franklin close or the ol bait and switch. You will learn how to influence the mind of your prospects, persuade them to join your business. Think with me, what would this be worth to you?

As you study Magnetic Persuasion you will discover advanced psychological techniques that will expand your mind.

You can Experience the Power of this!

Imagine being able to overcome objections before they happen, Know what your prospect is thinking and feeling, feel more confident in your ability to persuade. Be the master of your destiny, and control your financial future.

Invest in your future, invest in your income, and be proactive about who you are and what you want to become. Everything you want in life, somebody else has and you need to know how to persuade to get it.

Imagine where you would be now, if you had Mastered these skills only a few short years ago. How many millions of dollars have you lost?  Remember when you need to persuade someone, it is too late to learn.

Episode 199 – How to Create Trust in Strangers – Robin Dreeke FBI Interview

Robin Dreeke FBI Interview

Did you ever leave an interaction saying to yourself, “That could have gone better?”

Do you want to improve your leadership, interviewing, sales, and trust building skills for every aspect of your life?

A counter-intelligence expert shows readers how to use trust to achieve anything in business and in life.

Robin Dreeke is a 28-year veteran of federal service, including the United States Naval Academy, United States Marine Corps. He served most recently as a senior agent in the FBI, with 20 years of experience. He was, until recently, the head of the Counterintelligence Behavioral Analysis Program, where his primary mission was to thwart the efforts of foreign spies, and to recruit American spies. His core approach in this mission was to inspire reasonable, well-founded trust among people who could provide valuable information.

The Code of Trust is based on the system Dreeke devised, tested, and implemented during years of field work at the highest levels of national security. Applying his system first to himself, he rose up through federal law enforcement, and then taught his system to law enforcement and military officials throughout the country, and later to private sector clients.

Inspiring trust is not a trick, nor is it an arcane art. It’s an important, character-building endeavor that requires only a sincere desire to be helpful and sensitive, and the ambition to be more successful at work and at home. The Code of Trust is based on 5 simple principles:

1) Suspend Your Ego

2) Be Nonjudgmental

3) Honor Reason

4) Validate Others

5) Be Generous

For more information on Robin Dreeke and The Code of Trust visit www.Peopleformula.com

Episode 198 – Raise Your Price, Work Less & Make More Money – Interview with Dave Negri

Dave Negri’s Secret Price Weapon

 Using “pricing” as a marketing strategy is often overlooked by entrepreneurs.  It may be a little scary, butsometimes all you need is a higher price point to become more attractive to your target market.   The affluent tend to associate higher prices with higher value.

When someone is looking for the “best” – choosing the cheapest person is not the path he or she will take.  When you are QUALITY-focused, slogans like “highest quality AND lowest price” don’t fit together.  They are actually mutually exclusive.  Clients recognize this and are extremely suspicious if you try to pair quality and low prices in your marketing.

 “Price Shoppers” exist at all income levels. A higher-income price shopper will be just as difficult and draining to work for as a lower-income price shopper.  The only difference is the higher-income price shopper has more expensive minimum and maximum price points, so you can spare the time and energy to accommodate him or her.

 It is critical for your own sanity, to filter out bargain price shoppers by having prices preset at higher levels.  Higher prices indicate to prospects you are concerned about quality rather than quick sales.  Immediately this creates a level of trust. When prospects respond favorably to your rates, they are seeking quality products—not low prices.

For more information about Dave and his work visit: Www.contractorssecretweapon.com

Episode 197 – TEFAMA – How The Brain Works

Amy Cuddy – Non Verbal Link

I have already spoken at length about the necessity of positive mental programming and the initial steps one must take to put this powerful tool into practice. Great persuaders gain control over their destiny by controlling and directing their thoughts. Considering that our actions are emotion-driven, and our emotions are thought-driven, we’ve got to get our thoughts on track. They determine everything! You can always remind yourself of this powerful reality by keeping in mind the acronym TEA:

Thoughts → Emotions → Actions

Take an honest look at your life right now. Where do you find yourself? That place is the sum total of your thoughts over the course of a lifetime. Where have your thoughts taken you thus far? Where will they take you tomorrow, next week, or next year? It is only natural that negative thoughts will creep into your mind from time to time. As soon as they sneak in, escort them right back out. Don’t entertain them. They are destructive. Some people use a rubber band to snap their wrist every time a negative thought comes into their mind. The pain associated with this technique fixes their negative thinking very rapidly. If you don’t want to try the rubber band, you can send me a $2,000 check every time you have a negative thought. I am sure that would start to work for you real fast, because that is what it is probably costing you! Your thoughts are what programs your subconscious mind.

Your thoughts are what program your subconscious mind. Your subconscious mind is the center of all your emotions. When your subconscious accepts an idea, it begins to execute it. And then your subconscious uses your ideas, knowledge, energy, and wisdom to find the solution. Now, it might occur in an instant, or it might take days, weeks, or even longer. Nevertheless, your mind will continue working on a solution. You need to understand that as you program your mind, you must ask yourself, “Do I program negative suggestions in my mind?” If you are telling yourself that you can’t do it, you are right. When that inner voice tells you that you can’t do something, it is important that you replace the thought or turn down the volume or intensity of the negative voice. Then you can change it to “I can do it,” “I’m going to win,” and “there’s plenty for everybody.” Altering your inner voice’s perception is going to make a difference, and that’s the important thing. That’s because your subconscious mind will always accept what you program it to think. The bottom line is that you are what you think about, and you have the power to choose what you think. No one can do it for you. Great persuaders work on this mental training every day, while average persuaders think they have heard it all before and are doing OK.

If we are going to squash our negative thinking, we must replace those thoughts with new, positive ones. As you practice mental programming, new and inspiring ideas will intuitively and instinctively arise on their own. But give yourself specific goals and targets to keep your thoughts centered on—this type of focus will nurture and augment your newfound inner strength. Sure your logical mind will fight you on these new thoughts, but eventually your new programming will win. I love what Napoleon Hill, author of the classic Think and Grow Rich, had to say about this:

Episode 196 – Anthony Iannarino – Becoming The Trusted Advisor

 What Is Not Advice

 Your product is not advice. Nor is your service. Nor are the solutions that you happen to sell. The features, benefits, and advantages of what you sell are not advice either.

 Your management team isn’t advice, and as impressive as your board members may be, they aren’t advice. You know what else isn’t advice? All of your locations, and all of the logos of the big, recognizable, widely-admired companies you serve. As remarkable as your clients are, they are not advice.

Your differentiation strategy isn’t advice either. The things that make you different and make a difference for your clients may help you distinguish yourself in a crowded market, but they are not advice.

 If you are spending the precious little time you have with your dream clients talking about you, your product, your company, your clients, and what makes you different, you are not “advising.”

 What Is Advice

 What are all the forces weighing down on your dream client and causing them to produce results that are less than they should be? How should they be thinking about these forces, and what should they do about them?

 What are the risks of not responding to the systemic challenges that threaten your dream client’s business? What are their choices? What are the trade-offs? What are the risks of taking action now?

 What opportunities are available to your dream client now? Which provide them with the greatest advantages and which hAve the fastest return on invested time, money, and resources?

 How you engage with your dream client matters.

 Where you start the conversation is important because you are defining your relationship. If you begin the conversation with the things that you are comfortable talking about but that don’t create value, then you are not establishing that you have the potential to be their consigliere.

 If on the other hand, you start the conversation with strategically important issues, you demonstrate that you know something worth knowing, something that can benefit your dream client.

 Business acumen is the new sales acumen. What is at risk by starting the conversation too low is nothing less than your relevance.

To learn more about Anthony and his work please visit:  www.thesalesblog.com/newsletter