Successful sales calls by using cognitive biases Saptarshi Das
Posted: Wed Dec 04, 2024 8:44 am
Making and receiving sales calls plus maintaining the record of successful, unsuccessful and follow-up sales calls can be tough. Yet, nothing gets tougher than creating that first sales conversation. In this article today, we are going to explain how businesses are using cognitive biases for successful sales calls.Starting a sales conversation on the wrong foot can jeopardize the sales relationship ahead. Falter in your sales conversation and you can be sure that you have created a gap that is leaking prospects. However, every business owner has only one question in mind. Exactly what can go wrong in a sales conversation?Sometimes, even the most-seasoned salesperson feel the rush of anxiety-induced adrenaline when they are about to make that cold call. They feel that anxiety because they have a perfect understanding of how first impressions really count.
Using cognitive biases for successful sales calls
Cognitive bias is an error in reasoning that causes humans to deviate from good judgment and make illogical decisions.Whenever a sales rep picks up the phone to connect with a prospect for the first time:All their goals and the emotions attached to achieving or not able to achieve those goals emerge to the surface.The pressure is now building upon the sales repHe Azerbaijan Phone Numbers emotions are affrayThis is the point where sales reps must get a grip on themselves and must focus on the task at hand. Focusing on thprospect’s needs is more important during opening call conversation than any other stage of the entire sales cycle.Your sales reps must establish
trust and quickly show your prospect the added value your service or product will bring. Sales personnel must understand how to positively use the principles of cognitive bias to their advantage. Doing so enables them to kick-start any sales conversation with confidence and complete focus on helping prospects.In this article, we will help you learn how your sales reps cansell by understanding cognitive bias. We have explained about five crucial cognitive biases so that you understand if you are going to avoid making mistakes on that opening call or not.In the next part, we are going to relate each cognitive bias with common 4 sales calling mistakes that sales reps make. However, we will also help you counter the issue and solve the problem.
1. Halo effect
The halo effect is a type of immediate judgment discrepancy, or cognitive bias, where a person making an initial assessment of another person, place, or thing will assume ambiguous information based upon concrete information. – Wiki
What is it?
First impression matters and heavily influences the success or failure of your first sales call to the prospect.
Takeaway
Building rapport and gaining the prospect’s trust must be sales reps initial focus. This first sales call is more about building a relationship beyond sales than sales pitching.
2. Anchoring effect
When two pieces of information are presented in front of the prospect one after the other prospects tend to rely on the first one more. They start relying on it so much that they “anchor” their decision-making to that initial piece of information.
What is it?
Your prospect’s inbuilt bias of providing more weight to the first piece of information they hear about something while forming subsequent opinions.
Takeaway
Make sure your sales reps understand exactly what the prospect needs as a solution. This step is crucial as there is no point in explaining the features and benefits of a product that the prospect has no clue about.
3. Confirmation effect
The tendency to search for, interpret, favor, and recall information in a way that confirms one’s preexisting beliefs or hypotheses. – Wiki
What is it?
The prospect’s preference for things and situations that confirm with their preconceptions.
Takeaway
Your sales reps must spend more time listening to the prospects to understand what they think. Once you have information that the prospects are looking for, share it and confirm their thoughts.
4. Bandwagon effect
Beliefs, ideas, fads, and trends increase the more that they have already been adopted by others – Wiki
What is it?
The prospect is vulnerable to trust social proof.
Takeaway
Always encourage your sales reps for referring highly relevant case studies so that when they actually create a conversation with a prospect, they can tell them about the story of others success. Such an approach always helps in gaining prospects’ trust.
5. Ambiguity effect
The ambiguity effect is a cognitive bias where decision making is affected by a lack of information, or “ambiguity”. Wiki
What is it?
The prospects mistrust the set of options which they don’t understand.
Takeaway
Simplify your proposition and tell a compelling story tailored to make everything easy to understand.Let’s talk about the mistakes that sales reps make during their sales calls and how these five cognitive biases can come in handy to avoid making these mistakes.
Mistake 1. Doing all the talking yourself
An average of 8 cold call attempts are required to reach a prospect
Which of the cognitive biases for successful sales calls to use?
Anchoring effect
Ambiguity effect
Confirmation effect
In a study conducted by Sales Hacker over one million sales calls, it was found that top performing sales professionals listen to their prospects for over 54% during their sales calls. Those sales reps who have average or lower performance on their sales calls talk for more than 68%.Listening to your prospects is part of cold sales call success. When your sales reps allow the prospects to share their primary concern it allows your sales reps to weave your proposition in smoothly.
Practical tip
Asking sales probing questions to discover your pro
Using cognitive biases for successful sales calls
Cognitive bias is an error in reasoning that causes humans to deviate from good judgment and make illogical decisions.Whenever a sales rep picks up the phone to connect with a prospect for the first time:All their goals and the emotions attached to achieving or not able to achieve those goals emerge to the surface.The pressure is now building upon the sales repHe Azerbaijan Phone Numbers emotions are affrayThis is the point where sales reps must get a grip on themselves and must focus on the task at hand. Focusing on thprospect’s needs is more important during opening call conversation than any other stage of the entire sales cycle.Your sales reps must establish
trust and quickly show your prospect the added value your service or product will bring. Sales personnel must understand how to positively use the principles of cognitive bias to their advantage. Doing so enables them to kick-start any sales conversation with confidence and complete focus on helping prospects.In this article, we will help you learn how your sales reps cansell by understanding cognitive bias. We have explained about five crucial cognitive biases so that you understand if you are going to avoid making mistakes on that opening call or not.In the next part, we are going to relate each cognitive bias with common 4 sales calling mistakes that sales reps make. However, we will also help you counter the issue and solve the problem.
1. Halo effect
The halo effect is a type of immediate judgment discrepancy, or cognitive bias, where a person making an initial assessment of another person, place, or thing will assume ambiguous information based upon concrete information. – Wiki
What is it?
First impression matters and heavily influences the success or failure of your first sales call to the prospect.
Takeaway
Building rapport and gaining the prospect’s trust must be sales reps initial focus. This first sales call is more about building a relationship beyond sales than sales pitching.
2. Anchoring effect
When two pieces of information are presented in front of the prospect one after the other prospects tend to rely on the first one more. They start relying on it so much that they “anchor” their decision-making to that initial piece of information.
What is it?
Your prospect’s inbuilt bias of providing more weight to the first piece of information they hear about something while forming subsequent opinions.
Takeaway
Make sure your sales reps understand exactly what the prospect needs as a solution. This step is crucial as there is no point in explaining the features and benefits of a product that the prospect has no clue about.
3. Confirmation effect
The tendency to search for, interpret, favor, and recall information in a way that confirms one’s preexisting beliefs or hypotheses. – Wiki
What is it?
The prospect’s preference for things and situations that confirm with their preconceptions.
Takeaway
Your sales reps must spend more time listening to the prospects to understand what they think. Once you have information that the prospects are looking for, share it and confirm their thoughts.
4. Bandwagon effect
Beliefs, ideas, fads, and trends increase the more that they have already been adopted by others – Wiki
What is it?
The prospect is vulnerable to trust social proof.
Takeaway
Always encourage your sales reps for referring highly relevant case studies so that when they actually create a conversation with a prospect, they can tell them about the story of others success. Such an approach always helps in gaining prospects’ trust.
5. Ambiguity effect
The ambiguity effect is a cognitive bias where decision making is affected by a lack of information, or “ambiguity”. Wiki
What is it?
The prospects mistrust the set of options which they don’t understand.
Takeaway
Simplify your proposition and tell a compelling story tailored to make everything easy to understand.Let’s talk about the mistakes that sales reps make during their sales calls and how these five cognitive biases can come in handy to avoid making these mistakes.
Mistake 1. Doing all the talking yourself
An average of 8 cold call attempts are required to reach a prospect
Which of the cognitive biases for successful sales calls to use?
Anchoring effect
Ambiguity effect
Confirmation effect
In a study conducted by Sales Hacker over one million sales calls, it was found that top performing sales professionals listen to their prospects for over 54% during their sales calls. Those sales reps who have average or lower performance on their sales calls talk for more than 68%.Listening to your prospects is part of cold sales call success. When your sales reps allow the prospects to share their primary concern it allows your sales reps to weave your proposition in smoothly.
Practical tip
Asking sales probing questions to discover your pro