Does the number of product options presented impact whether or not a purchase will be made? This was the question that behavioral scientist Daniel Mochon sought to answer. His research, which was published in the Journal of Consumer Research, determined that the number of product options did heavily influence buying behaviors.
In one of his experiments, consumers were asked to purchase a DVD player. When a single DVD player was shown, only 10 percent purchased. However, when two different brands were shown sales skyrocketed, as an impressive 34 percent agreed to purchase the original DVD player, while 32 percent agreed to purchase the second DVD player. In total, a whopping 66 percent of shoppers agreed to purchase at least one of the DVD players when two options were shown.
When buyers are presented with only a single product or service, they rarely feel confident enough to make a positive buying decision and will want to look at alternatives. The reason is because of single-option aversion. This heuristic causes the brain to assign more risk to a decision when there is only one option in a choice set. Without something similar to compare a product or service to, the brain struggles to identify value and the decision-making process will often stall.
On the other hand, when the brain is shown competing alternatives, it will automatically assess each and select the best. This evaluation drastically reduces the perception of risk and the fear of making a poor decision. When presenting your products or services, always give buyers a few options. Doing so will make it easier for their brains to arrive at a decision.
David Hoffeld, Science-Based Sales Trainer & Author of The Science of Selling
David Hoffeld is the author of the acclaimed book The Science of Selling and the CEO and chief sales trainer at the research-based sales and consulting firm, Hoffeld Group. He is a sales and leadership contributor to Fast Company and has been featured in Fortune, U.S. News and World Report, The Wall Street Journal, Harvard Business Review, CBS Radio and Fox News Radio. To learn more about his science-backed sales strategies visit: www.HoffeldGroup.com
Thank you David!
If you and your sales team are losing out because of poor presentation skills, why not get the help you need on your own schedule? Become a great speaker easily, conveniently, and quickly with FrippVT. Take a trial now and get three free chapters on Stories, Openings, and Sales: http://frippvt.com
“In my 12 years in sales and marketing, you are the most dynamic, charismatic, and knowledgeable sales presentation trainer and executive speech coach that I know. After your presentation skills training, both my sales and technical support team are closing more sales!”
– Bill Lewis, Director of Sales and Marketing, North America, Unitech America, Inc.
Executive Speech Coach and Hall of Fame Keynote SpeakerPatricia Fripp works with individuals and companies who realize that powerful, persuasive presentation skills give them a competitive edge.
Patricia Fripp delivers sales presentation training through FrippVT.
How To Increase Your Sales Results
Patricia Fripp in Conversation with Tom Redmond
In our constant search for the easy way to sell (There is no easy way but we continue to look!), one consistent factor is that the most successful sales organizations are aware of their numbers and make course corrections by them. Organizational and individual patterns of success can be duplicated and challenges recognized and overcome.
Patricia Fripp, Executive Speech Coach & Hall of Fame Keynote Speaker
Some presenters like to move, while others stand still. At the beginning of any presentation you should stand still. Your audience members are getting used to you, how you sound, how you speak – how fast, your cadence, or your accent.
As you continue your presentation, make sure your movement supports your message. Avoid unconscious expressions of nervous energy. Have you noticed that some speakers look as though they are doing a little dance? Do not distract your audience with unnecessary movement.
Exceptional speakers employ three types of movement:
Tom Redmond is the author of Selling From the Inside Outand a go-to expert on the generation of and management of sales. We recently teamed up to bring you,Selling From the Inside Out: Advanced Sales Overview, part of the FrippVT Sales Series. Watch a replay of our web event and enjoy this great article from Tom to help you meet your sales goals:
“Is It Sales?”
by Tom Redmond
“Every process is either a competitive advantage or an economic drain.” – Tom Redmond
“Every sales conversation is a captured or missed opportunity. Which will your next one be?” – Patricia Fripp
It might seem counterintuitive to stop talking when giving a talk, but a pause can make your presentation more powerful.
Over the years, the American Payroll Association has been one of my best clients. The APA and its Executive Director, Dan Maddux are committed to helping their members become great communicators. Writer and editor, Frank J. Mendelson brings his communication expertise to the APA team. Frank “believes in the power and beauty of words, both written and spoken.” In the past we’ve had the pleasure of attending each other’s workshops at an annual APA Congress. I was delighted to have Frank quote me in this article he wrote on the power and purpose of the pause. Enjoy!
At a speech to Chicago’s Hamilton Club in 1899, two years before he became president, Theodore Roosevelt spoke about Greatness. “If we are to be a really great people, we must strive in good faith to play a great part in the world,” Roosevelt said. “We cannot avoid meeting great issues. All that we can determine for ourselves is whether we shall meet them well or ill.”
These powerful words from one of greatest presidents resonate with me and shed light on my own personal pursuit of Greatness. After spending more than 25 years as a sports journalist, I’ve come to realize that there’s no metric or method we can use to precisely measure Greatness. It is something that can’t be quantified.
An excerpt from my book Greatness: The 16 Characteristics of True Champions provides context that explains what many in the world of sports interpret as Greatness and my interpretation of what makes the Great ones Great.
Lois Creamer will show you how to sell your speech and how to book more business.
Lois Creamer knows the professional speaking business. Lois works with professional speakers to help them book more business, make more money, and avoid costly mistakes. As a speech coach and through FrippVT, I help professional speakers become consistently excellent in both content and delivery. We recently teamed up for Increase the Speed With Which You Succeed as a Speaker, part of the FrippVT web event series. If you’d like a virtual front-row seat to future events with speaking industry insiders, visit my events page or sign up and we will keep you posted so you won’t miss out! Enjoy this replay of our web event and this great article from Lois:
How To Sell Your Speech
by Lois Creamer
This article is all about selling! Essential to getting engagements on the calendar will be your ability to connect with those who actually book speakers.
Professional Speaker, Author, Branding & Marketing Expert, Lois Creamer
As a speech coach and the creator of Fripp Virtual Training, my clients include corporate leaders, media personalities, and even top-tier professional speakers. While I work with professional speakers to help them develop more powerful and persuasive presentations, my friend and colleague, Lois Creamer works with them to help them book more business, make more money, and avoid costly mistakes. Lois Creamer knows the speaking business! I share this article from Lois, who explains why – even in the era of LinkedIn – your speaker’s “one sheet” is still an indispensable marketing tool and how you can optimize your one sheet to increase your bookings. Enjoy my interview with Lois.
Through FrippVT, Executive Speech Coach, Patricia Fripp teaches speakers how to engage with a remote audience.
Ambitious individuals realize that powerful and persuasive business communication skills are critical to success. Ever-evolving technology and shrinking travel budgets make face-to-face meetings increasingly rare. Our latest communications challenge is to deliver effective business presentations remotely.
By the year 2020, 70 percent of the workforce will be millennials.
By the year 2020, 70 percent of the workforce will be millennials. Bestselling author Michael Nick and I recently enjoyed a wonderful conversation with hundreds of our friends! Michael’s books include ROI Selling, Why Johnny Can’t Sell, and The Key to the C-Suite. His latest book, Adapt or Fail, focuses on how Millennials are changing the way we communicate and collaborate throughout the sales process. The topic of millennials is truly popular and relevant. The statistics Michael shared in our conversation will open you eyes! Enjoy this replay of our web event, then enjoy what Jessica Nick’s great insights from a millennial’s point of view to help you thrive in the sharing economy.
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How to Present and Teach in the Virtual World…and More
Receive free, on-going Fripp webinar invitations, sales and presentation skills information, and special discounts from Executive Speech Coach, Sales Presentation Trainer, and Professional Keynote Speaker, Patricia Fripp, CSP, CPAE. As an added bonus, sign up now and receive a free copy of Patricia Fripp’s How to Present and Teach in the Virtual World.
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If you and your sales team are losing out because of poor presentation skills, why not get the help you need on your own schedule? Become a great speaker easily, conveniently, and quickly with FrippVT. Take a trial now and get three free chapters on Stories, Openings, and Sales: http://frippvt.com
“If we are to be a really great people, we must strive in good faith to play a great part in the world,” Roosevelt said. “We cannot avoid meeting great issues. All that we can determine for ourselves is whether we shall meet them well or ill.”
