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Book Summary - The Psychology Of Selling By Brian Tracy - Literature - Nairaland

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Book Summary - The Psychology Of Selling By Brian Tracy by BookVendor(m): 10:42am On Aug 21, 2017
Author’s name: Brian Tracy
Book title: The psychology of selling

Selling is one of the most difficult activity in a business but the only one that brings money into an organization. This book explains how to plan, prepare and prospect clients irrespective of your space or market place.

Below are the extracts of the great book – The psychology of selling.
• Research shows that you cannot earn more than 10% above or below what you expect to earn. To increase your sales, expand your self-concept to accommodate an expectation of reaching higher sales goals. By extension, the higher your self-esteem the better your sales performance.
• "Fear of rejection" and "fear of failure" are the two primary obstacles to making a sale. To cope with it without giving up, you will need a strong self-esteem and realize that sales rejection is not personal.
• Set goals and then visualize yourself achieving them from a third-party point-of-view [Personal insight: make sure you keep a relaxed attitude when you do this exercise, and if you tense up, correct it]
• People make purchases based on emotion and rationalize their decisions with logic. The two primary motivations for making – or not making – a purchase are “desire for gain and fear of loss.” The desire for gain is a quest for an improvement of some kind [Personal insight: a quest to make one's "actual self" to reach an "ideal self"]. The fear of loss crops up when prospects worry about making a mistake or getting stuck with goods or services they don’t really want.
• Ask question to understand your prospect's needs. Popular human needs are: money, security, being liked, status and prestige, health and fitness, praise and recognition, leading the field, love and companionship, personal growth, personal transformation, power, influence and popularity. Then convince your prospect that your product or service fulfills these needs better than anything else.
• The six most important words in selling are: “Spend more time with better prospects.” Ask questions at the beginning of your presentation that uncover whether the person is a prospective customer. Observe the prospecting methods that your company’s top salespeople use and apply them to your own practice.
• When you are talking about your product or service, your prospect is having an internal discussion where he's asking, in order of importance: “What’s in it for me?” then "what will it cost?", "what will I gain as a consequence?", "when will this outcome actually happen?" and "what guarantee are you offering?".
• List your product’s 10 most appealing characteristics. Then, determine why someone wants to buy it from your company and from you, personally. Identify your “unique selling proposition,” the feature that differentiates your product.
• The four elements of strategic selling are “specialization, differentiation, segmentation and concentration.” Determine what specific benefits your product offers. Differentiate it from the competition, when possible, in terms of price, quality or even the strength of your personality. Segmentation means finding the group that is naturally disposed to want your product. Concentrate on the prospects who are likeliest to give you the highest return.
• “Refuse to talk about your product or service, or the price, on the phone; focus single-mindedly on getting a face- to-face meeting, nothing more.”
• To begin your sales meeting, use an opening inquiry or statement that elicits the response, "Really? How do you do that?". For example, Corning Glass’s strong opening statement is, “We can provide you with glass that doesn’t shatter.”
• When you meet one-to-one with potential customers, you need to clarify 5 points: assure them you have something important to say, confirm that you are talking to the appropriate person, reassure them that the meeting will be brief, make sure they understand that they are under no obligation to make a purchase, and finally, tell them you will not use high-pressure sales techniques.
• “When you are selling in the home...never make a sales presentation in the living room. People do not make important... decisions in the living room; they make them in the kitchen or at the dining room table.” [Personal insight: I'd even add that the difference lies between "effective decisions" in contrast to "simple discussions"]
• Encountering resistance is normal. To neutralize sales resistance, tell your prospects that you understand the issue behind their resistance and counter with social proof (such as existing clients, testimonials, referrals or recommendations). Then, reiterate the crucial benefit of your product or service.
• “Everyone is busy. For this reason, you should always expect initial sales resistance, even if you are offering the very best product at the very best price to the most qualified prospect in the world.”
• Discover your prospect's "hot button" (the benefit your client finds the most interesting) and focus your presentation on it. Describe potential measurable results, such as a N% increase in sales, and if possible, guarantee the results with offers of rebates or refunds.
• The discussion of price often happens after the client agrees to buy. As a rule of thumb, delay any discussion of price until the close of your presentation.
• Approach close: you ask the client to make a decision after your presentation. For example, your beginning question could be: “Please tell me at the end of our conversation whether or not this product makes sense to you.” You are asking the prospect to listen with an open mind, and to give you an answer after he or she has heard about your product or service.
• Demonstration close: you begin the meeting by asking the clients if they will make a purchase if you can demonstrate the key benefit of your product. For example, your beginning question could be: “Mr. Doe, if I could show you the best investment available on the market today, are you in a position to invest $10,000 right now?”
• Power-of-suggestion close: you conduct your conversation based on the assumption that the customer has already made the buy. For example, you could say something along the lines of: “You’re going to love the customer support you get.”

To order this book and other business books, please visit www.bookvendeur.com or call 08111111296 to order to your door. Delivery is free in Lagos.

Thank you.

9 Likes 3 Shares

Re: Book Summary - The Psychology Of Selling By Brian Tracy by mokoshalb(m): 6:58am On Aug 24, 2017
cool

1 Like

Re: Book Summary - The Psychology Of Selling By Brian Tracy by virus05(m): 6:58am On Aug 24, 2017
una don open
Re: Book Summary - The Psychology Of Selling By Brian Tracy by thundey95(m): 7:00am On Aug 24, 2017
Ok
Re: Book Summary - The Psychology Of Selling By Brian Tracy by wickyyolo: 7:04am On Aug 24, 2017
Nice book ! Recommended
Re: Book Summary - The Psychology Of Selling By Brian Tracy by MrGreenMavro: 7:05am On Aug 24, 2017
A must read for every one
Re: Book Summary - The Psychology Of Selling By Brian Tracy by Nobleking2000(m): 7:05am On Aug 24, 2017
F
Re: Book Summary - The Psychology Of Selling By Brian Tracy by planetuzor(m): 7:09am On Aug 24, 2017
Nice
Re: Book Summary - The Psychology Of Selling By Brian Tracy by NigeriaJokesUWO: 7:10am On Aug 24, 2017
smiley
Re: Book Summary - The Psychology Of Selling By Brian Tracy by leksmedia: 7:15am On Aug 24, 2017
One of the greatest skills you will need to succeed in life is selling skills whether you are a sales man or not. Because everything we do in life is selling. Trying to woo a babe is selling , trying to get money from your boo is selling , trying to convince someone to change their opinion about something, you are selling your ideas to them.

For your website design, ecommerce websites, blog etc visit www.leksmediaconcept.com or call 08173091370
Re: Book Summary - The Psychology Of Selling By Brian Tracy by Alphagan: 7:23am On Aug 24, 2017
Self esteem is very crucial, clarity is necessary, develop personal relationship..it works like magic and above all, don't fear rejection. Keep pressing, you will finally hit the right cord

5 Likes

Re: Book Summary - The Psychology Of Selling By Brian Tracy by slayking(m): 7:53am On Aug 24, 2017
I've come across this book as an undergraduate. Yet to read it but will soon get a copy.
Re: Book Summary - The Psychology Of Selling By Brian Tracy by ALAYORMII: 8:08am On Aug 24, 2017
Nice
Re: Book Summary - The Psychology Of Selling By Brian Tracy by Tapalos: 8:36am On Aug 24, 2017
All Brian Tracy's books are all available and ANY BOOK AT ALL BY ANY AUTHOR IN ANY FIELD. Please connect with us on Whatsapp thru 07051505626.
Re: Book Summary - The Psychology Of Selling By Brian Tracy by Tapalos: 8:37am On Aug 24, 2017
slayking:
I've come across this book as an undergraduate. Yet to read it but will soon get a copy.

All Brian Tracy's books are all available and ANY BOOK AT ALL BY ANY AUTHOR IN ANY FIELD. Please connect with us on Whatsapp thru 07051505626.
Re: Book Summary - The Psychology Of Selling By Brian Tracy by Tapalos: 8:38am On Aug 24, 2017
wickyyolo:
Nice book ! Recommended
All Brian Tracy's books are all available and ANY BOOK AT ALL BY ANY AUTHOR IN ANY FIELD. Please connect with us on Whatsapp thru 07051505626.
Re: Book Summary - The Psychology Of Selling By Brian Tracy by permit(m): 8:39am On Aug 24, 2017
wawuu this book is quite ok to me, first and foremost u need insight and gaol settings then feel free to press ur button = sucess, u have the magic and potentials thank u...
Re: Book Summary - The Psychology Of Selling By Brian Tracy by yomalex(m): 9:22am On Aug 24, 2017
I'm reading this presently. Good book
Re: Book Summary - The Psychology Of Selling By Brian Tracy by JhyMedex: 10:30am On Aug 24, 2017
Got dis books 2wks ago.. yet to read up tho.. Shld do dt soon Enof ...grin..
Re: Book Summary - The Psychology Of Selling By Brian Tracy by Orpe7(m): 10:32am On Aug 24, 2017
Like it or not everyone is a salemans either directly or indirectly
Re: Book Summary - The Psychology Of Selling By Brian Tracy by necktah: 12:10pm On Aug 24, 2017
Please how do I get my write ups and articles on ur site?
Re: Book Summary - The Psychology Of Selling By Brian Tracy by Augiiee(m): 12:18pm On Aug 24, 2017
nice coolnice
Re: Book Summary - The Psychology Of Selling By Brian Tracy by internetpo(m): 1:08pm On Aug 24, 2017
BookVendor:
Author’s name: Brian Tracy
Book title: The psychology of selling

Selling is one of the most difficult activity in a business but the only one that brings money into an organization. This book explains how to plan, prepare and prospect clients irrespective of your space or market place.

Below are the extracts of the great book – The psychology of selling.
• Research shows that you cannot earn more than 10% above or below what you expect to earn. To increase your sales, expand your self-concept to accommodate an expectation of reaching higher sales goals. By extension, the higher your self-esteem the better your sales performance.
• "Fear of rejection" and "fear of failure" are the two primary obstacles to making a sale. To cope with it without giving up, you will need a strong self-esteem and realize that sales rejection is not personal.
• Set goals and then visualize yourself achieving them from a third-party point-of-view [Personal insight: make sure you keep a relaxed attitude when you do this exercise, and if you tense up, correct it]
• People make purchases based on emotion and rationalize their decisions with logic. The two primary motivations for making – or not making – a purchase are “desire for gain and fear of loss.” The desire for gain is a quest for an improvement of some kind [Personal insight: a quest to make one's "actual self" to reach an "ideal self"]. The fear of loss crops up when prospects worry about making a mistake or getting stuck with goods or services they don’t really want.



....
• “When you are selling in the home...never make a sales presentation in the living room. People do not make important... decisions in the living room; they make them in the kitchen or at the dining room table.” [Personal insight: I'd even add that the difference lies between "effective decisions" in contrast to "simple discussions"]
• Encountering resistance is normal. To neutralize sales resistance, tell your prospects that you understand the issue behind their resistance and counter with social proof (such as existing clients, testimonials, referrals or recommendations). Then, reiterate the crucial benefit of your product or service.
• “Everyone is busy. For this reason, you should always expect initial sales resistance, even if you are offering the very best product at the very best price to the most qualified prospect in the world.”
• Discover your prospect's "hot button" (the benefit your client finds the most interesting) and focus your presentation on it. Describe potential measurable results, such as a N% increase in sales, and if possible, guarantee the results with offers of rebates or refunds.
• The discussion of price often happens after the client agrees to buy. As a rule of thumb, delay any discussion of price until the close of your presentation.
• Approach close: you ask the client to make a decision after your presentation. For example, your beginning question could be: “Please tell me at the end of our conversation whether or not this product makes sense to you.” You are asking the prospect to listen with an open mind, and to give you an answer after he or she has heard about your product or service.
• Demonstration close: you begin the meeting by asking the clients if they will make a purchase if you can demonstrate the key benefit of your product. For example, your beginning question could be: “Mr. Doe, if I could show you the best investment available on the market today, are you in a position to invest $10,000 right now?”
• Power-of-suggestion close: you conduct your conversation based on the assumption that the customer has already made the buy. For example, you could say something along the lines of: “You’re going to love the customer support you get.”

To order this book and other business books, please visit www.bookvendeur.com or call 08111111296 to order to your door. Delivery is free in Lagos.

Thank you.



Nice summary. Thanks. Bookmarking this page. And will come use your services soon.
Nice book too.
Re: Book Summary - The Psychology Of Selling By Brian Tracy by slendxy: 10:29pm On Aug 25, 2017
Always rehearse your meeting with a prospect before the actual meeting. Anticipate your prospect's concerns and questions and be ready with answers or words to ease their worries.

Every prospect is unique, don't lump them together. Find the right button for each and press.

Brian Tracy is a great sells man.

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