Cognitive Bias in Sales – The DECOY

IN EARLIER articles, I’ve written about how cognitive biases can influence the sales process – but we’ve barely begun looking at the TYPES of cognitive biases anyone in sales (or in business) may confront every single day.

Whether you are a solopreneur, a small business owner, a service professional, or part of an executive leadership team – we are talking about something that can have a HUGE IMPACT on the sales process.

It could even be said that understanding this kind of information is what sets the 20% of upper level performers (those who make 80% of the sales) apart from (and out in front of) the rest of the pack.

NOW, here’s the thing: sometimes you hear it said that someone is a ‘natural salesperson”. What is probably more accurate is that the person who seems to be a ‘natural’ really just seems to instinctively understand the processes at work when cognitive bias affects sales.

Really good news: Even if you aren’t a natural at sales – you can learn!Click To Tweet

Why YOU need to know about cognitive bias

You may have a FEAR of sales. You may dislike … dare I say, even HATE sales … but that doesn’t change the fact, one iota, that you are selling SOMETHING every day.

I encourage the people I counsel to EMBRACE the SALES PROCESS. After all, nothing can help you reach your business goals quicker than boosting sales.

Nothing.

So let’s go talk about another manifestation of cognitive bias – and let’s continue that track for another few articles.

I BELIEVE: If you will commit to studying, learning, and putting into practice the things you learn here TODAY – your sales can’t HELP but increase.

(To brush up on the hows and whys of cognitive bias, READ THIS.)

Here we go…Continue reading

Cognitive Bias – How the Mind Helps and Hinders Sales

The most merciful thing in the world… is the inability of the human mind to correlate all its contents (H.P. Lovecraft)

DO YOU EVER defend a purchase you’ve made – even though you may wonder whether or not it was truly a wise decision?

Have you ever considered that you may champion ideas and products you think are right for YOU, while not always acknowledging signals that those things may NOT be right for the prospect across the table from you?

Everyone exhibits what psychology calls “cognitive bias.” You, me, our prospects, customers, and clients – ALL of us are afflicted.

Here’s the big question: How might that influence the sales process?

Could a knowledge of cognitive bias help you make and KEEP more sales?Click To Tweet

Cognitive bias in a nutshell

You may not feel like it’s true all the time, but your brain is considerably more powerful than any computer. Your mind can think a whole lot faster than you can consciously keep up with.

Consequently, the brain makes many snap decisions all by itself.

For instance, do you think first impressions are important?  (It’s been said you only have 7 seconds to make a strong first impression on those you meet … or be summarily dismissed from consideration.)

Now, consider this: Do first impressions ever result in unwarranted bias?

Bingo!Continue reading