W H AT I N F L U E N C E S H U M A N B E H AV I O R?

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1 W H AT I N F L U E N C E S H U M A N B E H AV I O R?

2 MHI Sales Workshop D AV I D H O F F E L D

3 W H AT I N F L U E N C E S H U M A N B E H AV I O R?

5 S C I E N T I F I C B R E A K T H R O U G H S Social Psychology Communication Theory Cognitive Psychology Social Neuroscience Cognitive Neuroscience Behavioral Economics

6 U N P R E C E D E N T E D O P P O R T U N I T Y : S C I E N C E - B A S E D S E L L I N G Science is more than a body of knowledge. It is a way of thinking. Carl Sagan

7 U N P R E C E D E N T E D O P P O R T U N I T Y : S C I E N C E - B A S E D S E L L I N G

8 U N P R E C E D E N T E D O P P O R T U N I T Y : S C I E N C E - B A S E D S E L L I N G How you think determines your behaviors and the results you produce

9 T O D A Y S A G E N D A Part 1: How the brain forms buying decisions Part 2: Rules of influence Part 3: Q & A

10 H O W D O E S T H E B R A I N M A K E B U Y I N G D E C I S I O N S?

11 H O W T H E B R A I N I S I N F L U E N C E D T O C R E A T E B U Y I N G D E C I S I O N S

12 Key Point: The goal of your sales process should be to guide buyers in committing to the salesperson s message (central route) while using heuristics (peripheral route) to effectively convey that message.

13 H O W T H E B R A I N I S I N F L U E N C E D T O C R E A T E B U Y I N G D E C I S I O N S

14 S C I E N C E - B A S E D S E L L I N G : S T R A T E G I C C O M M I T M E N T S How does the brain create a buying decision? Hundreds of scientific studies have found that small commitments naturally lead to larger ones Commitments are the reference points our brains use when constructing buying decisions

15 S T R A T E G I C C O M M I T M E N T S A R E B U I L D I N G B L O C K S O F T H E S A L E The decision to purchase is made throughout the sales process Strategic, incremental commitments guide buyers through a natural progression of consent and into the final decision to purchase

16 SIX WHYS six specific questions, each beginning with the word Why, that represent the mental steps all potential clients go through when making a purchasing choice

17 S I X W H Y S The Six Whys are the commitments buyers must make to say yes to any purchase Research shows that if buyers do not make even certain essential commitments, the buying process breaks down

18 G O A L O F E V E RY S A L E S P R O C E S S : C O M M I T M E N T S T O S I X W H Y S

19 S I X W H Y S Enables you to gain an accurate understanding of the true nature of your client s problems Guides you in compellingly revealing to clients how you can help them solve those problems 88% of buyers believe that salespeople do not understand their problems enough to be able to help solve them

20 Aligning Selling With Buying Commitments unlock the sale. It s just so easy when you get your commitments.

21 Which of the Six Whys are you least effective at addressing? A. Why Change? B. Why Now? C. Why Your Industry Solution? D. Why You & Your Company? E. Why Your Product or Service? F. Why Spend The Money?

22 U S I N G T H E S I X W H Y S E X E R C I S E Which of the Six Whys are you least effective at addressing? What can you do to strengthen that part of your sales process?

23 H O W T H E B R A I N I S I N F L U E N C E D T O C R E A T E B U Y I N G D E C I S I O N S

Mental reflexes or shortcuts the brain instinctively makes when forming judgments Predictably Irrational Rules of influence H E U R I S T I C S Shape

24 Mental reflexes or shortcuts the brain instinctively makes when forming judgments Predictably Irrational Rules of influence H E U R I S T I C S Shape perception & present in every selling situation Increase sales by leveraging them in your favor Daniel Kahneman 2002 Nobel Prize in Economic Sciences

25 H E U R I S T I C : S I N G L E - O P T I O N A V E R S I O N Single Option Aversion = when the brain is presented with a single option it assigns more risk to the decision than when presented with multiple options in a choice set 10% of buyers say yes vs.

assigns more risk to the decision than when presented with multiple

26 H E U R I S T I C : S I N G L E - O P T I O N A V E R S I O N Single Option Aversion = when the brain is presented with a single option it assigns more risk to the decision than when presented with multiple options in a choice set vs. 10% of buyers say yes 34% of buyers say yes 32% of buyers say yes

27 H E U R I S T I C : S O C I A L P R O O F

28 T H E I M PA C T O F S O C I A L P R O O F Social Proof = connects the persuasiveness of an idea with how others are responding to it

S E L L I N G W I T H S O C I A L P R O O F Reduces the perception of risk & can help clients see change in a positive way Show what others are doing: Our most popular option is or

29 S E L L I N G W I T H S O C I A L P R O O F Reduces the perception of risk & can help clients see change in a positive way Show what others are doing: Our most popular option is or What others in your situation usually choose is Leverage it in your favor: The most common way to deal with this issue is Share stories of past customers Third Party Stories Case Studies

30 H E U R I S T I C : R E A C TA N C E

31 H E U R I S T I C : R E A C TA N C E The innate desire that occurs when one perceives his or her ability to freely choose is being restricted People instinctively want to feel in control Blinds potential customers and sales

32 N E U T R A L I Z I N G R E A C TA N C E

33 N E U T R A L I Z I N G R E A C TA N C E Phrases That Reduce Reactance: Of course, its up to you. It s your choice. Case Study You can let me know if you want to use it. Closing percentage went up by 39%

34 H E U R I S T I C S E X E R C I S E Pick one heuristic and think of one new way that you can leverage that heuristic to better convey your ideas, service or company to existing clients or potential clients. Heuristics we discussed: Single-Option Aversion Social Proof Reactance

35 Connect & Dive Deeper linkedin.com/in/davidhoffeld youtube.com/c/hoffeldgroup

Masters of Marketing Spotlight Series

Masters of Marketing Spotlight Series Dan Alexander CO-FOUNDER / CHIEF METEOROLOGIST & DATA SCIENTIST WEATHERALPHA Carl Weber DIRECTOR, BUSINESS DEVELOPMENT WEATHERALPHA Dan Alexander, co-founder and chief