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How To Maximize Sales

Sales are a key component of any small business, if not the most important component. In this article, you'll learn some simple tips based on psychology that can dramatically and consistently increase your sales.

Author: George Hutton
Date: Jan 30, 2011 - 6:28:01 AM

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If you are one of the successful entrepreneurs out there who run your own business, then you know how absolutely vital sales are to your survival. When sales are good, everybody's happy and spirits are high. When sales lag, however, things start to get a bit scary. In this article you'll learn some basic tricks from psychology that have been proven time and time again to consistently bring in more sales. They are easy to understand, and easy to implement, so you can easily make more money.

The first idea is called scarcity. Anything that is perceived to be scarce is perceived to be worth much more than something that is readily abundant. Diamonds and gold are worth much more than air and water. This makes the demand, and the prices, much higher. An example is anytime you see the magic words, 'supplies are limited, please hurry.' As obvious as those are, they work. Consider using these in your business to create an idea of scarcity surrounding your products.

The power of authority is another recognized factor in sales. When somebody in authority voices an opinion one some kind of product or service, it is believed to a much higher degree than some random anonymous guy on the street. Consider all your customers, and see if you can elicit some customer comments from doctors, teachers, police officers, or anybody else in a position of authority. This will help your sales a great deal.

Comparison and contrast is another powerful way to increase sales. Products are perceived much differently by your customers when they are viewed along compared to when they are viewed alongside other products. Several studies have shown that sales of medium priced items increased dramatically when placed next to similar products that were much more expensive. Often times shops will have expensive products only to help sell the medium priced items.

Commitment and consistency is another good way to motive people to buy your product. People are generally more apt to behave in ways that are consistent with previous behavior. So if you can convince your customers that buying your product is consistent with their behavior, they'll have a much higher chance of buying it.

Although simple, these ideas can help you increase sales. They are based on psychology, which means that they are largely subconscious in the mind of your customers. They can easily help you increase sales, increase profits, and consistently grow your business.

View all articles by George Hutton

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