Fair, Unfair, Good or Bad? How Do Buyers Know?

Science reveals that buyers make decisions based on strategic, incremental commitments. How can sales professionals sell in a way that inspires these commitments? David Hoffeld, author of The Science of Selling, was recently my guest on FrippVT Sales Series. Enjoy this excerpt from David’s book, explaining a mental shortcut the brain makes when forming judgments and how you can leverage this to increase your sales success – and enjoy a video replay from our recent conversation on The Science of Selling.

Presenting Anchors in Your Sales Presentations

by David Hoffeld

The Tonight Show with Johnny Carson was a treasured part of the televi­sion landscape for thirty years. One of Carson’s interviews has achieved almost mythical status within the sales and marketing community. It was with the Girl Scout who set the record for selling the most Girl Scout cookies. It went something like this:

Johnny Carson begins the interview by inquiring, “What is the secret of your success?” To the amazement of everyone, she replied, “I would ask people if they would give a $30,000 donation to the Girl Scouts.” Carson chuckled. “What did people say when you asked that?” “No!” retorted the young girl. “But then I would ask them, ‘Would you at least buy a box of Girl Scout cookies?’”

This humorous illustration reveals how once people compared the larger request for a $30,000 donation to the purchase of a box of cook­ies, few could resist. The reason this was so persuasive is because of a highly influential heuristic (mental shortcut) known as anchoring.

Anchors are reference points the brain intuitively creates to help it make rapid judgments. Once an anchor is formed, it creates a bias that shapes how the brain perceives subsequent information. In other words, the brain uses the anchor as its starting point and contrasts new information with it.

For instance, how do buyers know if the price of your product or service is fair or unfair, good or bad? They compare it to something else. Perhaps they contrast it with what they paid before, a competitor’s price, their potential return on investment, or what they thought it would cost. All these are anchors they are using to evaluate your price.

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!

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FrippVT Sales Series Video – Patricia Fripp & David Hoffeld Discuss The Science behind Buyers’ Decisions

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 Speaker Patricia Fripp works with individuals and companies who realize that powerful, persuasive presentation skills give them a competitive edge.