Psychology Applied to Sales

In today’s highly competitive business world finding an edge can make the difference between success and failure. All businesses rely on sales to survive, which is why companies across the world spend millions each year trying to improve the effectiveness of their sales teams.

Determining how to sell your product or services and increase your number of clients is a priority of any business. Using psychology in order to identify sales trends can enable you to plan effective marketing strategies that will promote your business and increase your number of clients.

Knowing Your Customers

The first step to the successful use of sales psychology is knowing and understanding your customer. How clients and customers shop and respond to businesses is key information that can enable you to effectively target your desired clients. Understanding mental processes is therefore vital and enables you to ensure that your expenses are focused purely on the relevant areas and that expensive marketing strategies are not being wasted on unresponsive sectors.

Don’t Let Them Forget!

The main mental process sales psychology tends to address is that of memory which, if understood, can be utilised in order to ensure that your business is kept in the forefront of people’s minds.

The first widely accepted psychological model of memory was proposed by Atkinson and Shiffrin in 1968 with a number of later models and ideas, such as Craik and Lockhart’s 1972 Levels of Processing Model, being presented afterwards. Models of memory such as this suggest that human memory operates as a series of stages or functions which combine together to create an overall end result, much like a business.

These models of memory suggest how information is retained by the brain and techniques for improving retention: such as repetition, association and the use of ‘hook-lines’. Understanding these processes therefore enables sales teams to effectively promote and market their products and services, ensuring the acquisition of new customers and successful, cost effective, marketing strategies.

You could improve your psychological sales procedures by monitoring social network feeds and forms of communication such as email to identify market trends and discover customer responses to products, enabling successful marketing strategies to be thoroughly planned and targeted at particular individuals.

The ability to build views and reports as well as spotting weaknesses in sales early on is a key psychological based strategy that can aid the effectiveness of a sales team and identify key areas for marketing. Customer Relationship Management (CRM) software can provide forecasting tools to achieve this and enables accurate forecasting and predictions for a businesses’ financial period.

Helping you to identify the best way to increase your sales and market your business can be a difficult objective to achieve, but the effective use of psychology can improve your sales. Monitoring effective strategies and looking carefully at what works and what doesn’t should increase your new business sales and help your business develop new ways to grow your business.

This article was written by Workbooks, a leading supplier of web based CRM systems.