Using Psychology for B2B Sales: Part 2
Although the human brain is capable of creating new, ground breaking ideas, our minds are also extremely predictable in many ways. Most people don’t realize we are making basic, reliable conclusions, the same conclusions made by strangers we will never meet, because these decisions are a normal function of the human brain. Our brains tend to jump to regular conclusions, which may cause us to make unconscious decisions or become biased to certain stimuli. However, learning to use these biases can benefit your marketing services. Continuing with last month’s blog, here are more tried and true idiosyncrasies you can use in your lead generation techniques.
Hyperbolic Discounting
Your boss offers you a choice: you can have one entire week off, starting next week, or wait an entire year and get one whole month off. Due to hyperbolic discounting, you are more likely to take the week off now than waiting an entire year for a month off.
The same would be true if you offered a child one piece of candy now or six tomorrow. To our brains, now is better than later, even when we become adults. Our brains are more likely to choose short term rewards over better options given in the long term. According to hyperbolic discounting, the value of a reward decreases the longer you have to wait for it.
What does this mean for your B2B sales? Your telemarketing service team should emphasize the quick rewards a customer can expect shortly after buying your product or participating in your services, especially if they will actually have to wait for your product to ship or for your services to benefit them.
The Bandwagon
The bandwagon is perhaps one of the most powerful and widely used marketing and lead generation techniques. The bandwagon effect explains why celebrity endorsements are so valuable, why viral videos can turn an unknown phenomenon into a popular trend and why products and services spread like wildfire. For instance, even though you may have thought whitewashed jeans were ridiculous in the 90s, you probably had several pairs to last you through the week. Everyone gravitates toward products they see other people using, and the more people who are using it, the more powerful your need to use it will become as well.
So how does this affect your telemarketing services? Your B2B team should use the numbers in their advantage. Tell prospects how many customers you have, how many people love your product and even introduce them to current clients to get them on the bandwagon.
For more expert advice for improving your B2B sales, contact us. Our professional team uses the latest lead generation techniques to drive more customers to your business.