HTSS202 - Money Is Emotional In Sales And Business

Money is emotional in business and sales 

You will find that when you spend money or make money it is emotional. This comes down to  the money spent vs time to make it. You will want to understand this concept in order to close more deals. When you can grasp the money vs time concept you can have better communication with your buyers. If you add in the understanding of risk it's that much more impressive. When older people tell you their age, it’s a money issue. 

Trust helps close deals in sales 

As consumers, we have a fear of being taken advantage of. We don't want to lose out. This fear comes down to protecting your back end and not losing. When you win there is a dopamine rush, when you lose there is panic. 

Time vs cost in sales and emotions 

When you make money you calculate the time, energy, and or effort it takes to make a purchase. This is normal for most people for mid-range and large purchases. Sometimes what you sell will take weeks, months, or years to pay for. This comes down to time, energy, and or effort. People buy on emotion and justify with logic:

• There is an emotional feel to spending money 
• there is an emotional feel to winning and or losing money 
• Some people put more weight on either way or both – greed

As a salesperson, it helps to understand these concepts not just for the purchase, but also the objections as well as the problems faced after a deal. There is emotion to a sales presentation:

• Sometimes you hit it off immediately with buyers 
• Sometimes you lose the sale in the first 3 minutes of the appointment 
• Angry people will still make a purchase
• Its not just the buyer its you as well that does this 

Think about how upset or angry you get when you make a mistake or when something goes wrong. There is risk in making a mistake, you could be:

• Irritated
• Upset
• Angry
• Judgment 
• Guilt
• Humiliated
• Passed over for promotion
• Fired

Talking about emotions in sales

Early on in your sales career, you may have fears about emotional conversations and questions. You can use emotional questions with your buyers and be ok. You do need to pay attention to how often you have them so they don't feel manipulative. Ways you can lock in emotions in the sales process:

• You can ask for the feelings, the right amount. How many emotional questions you choose to ask is a personal decision
• You can anchor the feeling and or emotion 

Set the expectations emotionally with your buyers 

You can reduce problems and or issues with your buyers by setting the expectation. Explain to buyers what will happen emotionally if they go the wrong way. You can talk people through their decision-making process. The way you communicate can be:

• This can be explicit or a hint
• This can be a story
• This can be a testimonial 

How to explain the outcome with emotions

You can use emotional words to explain and set expectations. Remember to not use too much, just in a few places. You can mirror the words of the buyer when you ask emotional questions.  A mismatch may not work to your favor.  If they say upset don’t use anger for them, save that for another example.

• Use certainty – I am certain you will be happy with this
• You can use priming with images of smiling people
• You can use testimonials where someone didn’t think the product, service, and or idea would work
• Colors

Things you can do when sales go sideways

1. Contact the person immediately – the sooner the better
2. Listen to what they say, the story will repeat a few times -
3. You can agree with them -
4. You can ask them what they want to solve the problem, get them to go first. Sometimes its just the venting. Sometimes its money  

Making money is emotional and spending money is as well 

You have to remember money is emotional. Spending, making, losing, saving and thinking about money can bring in emotions. To sell more you will want to think through people sell how they buy. Setting expectations can help close deals. Tell them what to expect. Tell them what to do if something happens. Last of all don’t sell perfection.