Retail often does not have it easy due to the competition from online trade and its advantages in terms of price and service. But even as a retailer, you can boost your sales with the right tools. In this article, we will tell you which sales strategies and psychological tricks you can use to convince potential customers of your products or services during sales pitches.
What is a sales strategy?
Before we delve deeper into retail sales pitch tips, let’s first clarify what a sales strategy is and why it is important to the success of your business.
A sales strategy gives you, as a retailer, a common thread on how you can win over (potential) customers in the sales pitch and ultimately encourage them to make a purchase. In order for your strategy to pay off in higher sales for you, you should study the needs, interests, and shopping habits of your customers well. In short: you need to know what makes your customers tick.
Neuroscience provides you with important insights here. According to the Deloitte study ” Sales strategies of the future – neuroscientists explain unconscious buying behavior of customers “, customers should be treated as “individual personalities” and not as a “homogeneous group”. To do this, use all the information you have about your customers. For example, insights from surveys or personal customer meetings, etc.
Even if you don’t have the opportunity to automatically collect data on the purchasing behavior of your target group in offline retail, you can find out what your target group wants in a personal conversation. Therefore, the most important tip for your retail sales strategy right at the beginning is: Listen carefully to your customers.
Why is a sales strategy important?
The goal of your sales strategy: You want to bring your products or your service to the man or woman. That’s why you should always go into a sales pitch with a good plan to turn prospects into paying buyers. Because otherwise, you end the sales talk without any countable success. With a well-thought-out sales strategy, you can also make the conversation much more customer-oriented. In addition: With every successful customer meeting, you can refine your strategy and tailor it even better to the customer.
7 Psychological Tricks & Sales Strategies for More Sales
Would you like to learn which psychological tricks and strategies will help you to sell more? Learn below the 7 best sales strategies that are guaranteed to work.
Do your customers a favor
A small gift is one of the best sales strategies to generate more sales.
You probably know this from your private life: if you receive a present, you feel obliged to return the favor at the next opportunity. This psychologically well-researched human behavior works in all cultures and can therefore also be used wonderfully for your sales strategy in retail. It is based on the principle of reciprocity: if you do something good for me, I will also do something good for you. After all, you don’t like to owe someone anything.
The need to strike a balance is deeply rooted in our DNA. So, as a smart seller, you hand out small gifts to customers who come into your store – be it just a tea, a coffee, or a free sample. When customers take up your offer, they will feel an inner pressure to give something back. Then they usually buy things that, strictly speaking, they would not even need.
Generate last-minute panic in the customer
You can also rely on artificial scarcity to sell more. This concept is already working extremely successfully in online retail. It is based on the fact that products that are sold out or only in small quantities attract buyers like honey attracts bees.
Make it clear to your potential customers in the sales talk that they will get nothing if they do not quickly decide on the desired product. In most cases, he won’t even think about whether he needs the product at all – he will just buy it. Nobody wants to take the risk of missing a supposedly good opportunity. Scarce goods often appear more valuable than they actually are.
Here are two examples of how you can evoke the desired buying reaction from the customer:
- Create time pressure by making the customer a special offer that is only valid for today.
- Place only small amounts of a product on the sales counter.
The nice thing about the principle of scarcity is that the customer is still happy after the purchase because he finally got hold of something that no one else will ever get.
Get “Yes” from the customer
A free tasting is well received by customers – and is an effective sales strategy
Another principle you use to entice your customers to buy is consistent behavior. Once a customer has said “yes” (or even “no”) to something, they are very reluctant to change their mind. Because he wants to appear consistent in his actions toward others and not contradict himself. In short: Whoever says A must also say B. So if you want to sell something, you can take advantage of this human behavior. Get an initial “yes” with a free or very cheap offer to get the smallest amount of approval from the potential buyer.
- Offer a free tasting.
- Offer a free initial consultation.
- Entice with the principle: Consume now, pay later.
Only when you have wrested this first and decisive “yes” from the interested party do you come up with the actual offer?
Benefit from the principle of social proof
Man is a thoroughly social being. According to Maslow’s hierarchy of needs, belonging to a group fulfills our deep-rooted need for close relationships and friendships. We feel better when we are part of a community. In addition, man is an imitator and does not want to miss anything desirable. If a lot of people love a product or have bought it, it simply has to be good. You can use the principle as follows to increase your sales:
In the sales talk, talk about your customers’ sense of achievement with a product or how satisfied they are.
Read Also: How Social Media Leads You Towards A Successful Business
Designate the product you want to sell as a bestseller.
Do you own a Facebook page? Then ask you’re satisfied customers to submit a rating on the Internet and collect top ratings that have a tempting effect on prospective customers.
This principle becomes even more effective when you have information about the potential buyer.
Create customer sympathy
People are happy to buy something from friendly sellers.
We find it difficult to refuse a wish from people who make a sympathetic impression on us. That’s why we prefer to buy from them. As a trained salesperson, you have various options for making a positive impression on the customer:
- Establish resemblance: people who are similar to us are likeable to us right away. There is immediate trust here. As a seller, you use this by dressing similarly to your target group, pointing out similarities (“Oh, are you from Frankfurt too?” Or: “You also play tennis?” Or: “I had the same problem the other day” Or also: “You know person XYZ too?”).
- Give compliments: Everyone likes to hear compliments. And someone who gives these compliments appears likable in our eyes. In the sales talk, drop phrases like “You can tell you know your stuff” or “Thank you for the pleasant conversation.”
- Attractiveness: We automatically consider attractive people to be smarter and also ascribe many other positive characteristics to them. You can influence your own attractiveness by wearing decent clothes at work and by being well-groomed.
Earn expert status
If you have a problem with something, you usually have it solved by an expert. Customers believe in experts and their experience. Therefore, as a seller, you should also be perceived as an expert in your field in the eyes of your potential customers. How do you achieve that? The clothing alone not only generates sympathy but already conveys an expert status. In addition to clothing, your own behavior exudes authority: If you speak to the customer in a deep, calm tone, it shows self-confidence. Of course, appearances and your behavior never replace your expertise. If you are convincing here, even higher prices can be achieved.
Offer the desired payment methods
If you have finally turned the prospect into a buyer with the help of your individual sales strategy, the shopping experience should not be clouded by the final payment. And since, according to a recent study, many buyers like to pay contactless (especially in Corona Times), you should also offer these payment options. Because customers expect digital payments even from small retailers.
As you have seen, there are many opportunities for you to use psychological selling strategies to increase retail sales. However, it is important to put the customer at the center of everything we do and not to cheat them. After all, he has to be really satisfied with his purchase in the end so that he comes back and recommends what he has bought to his family and friends.