How do people make decisions? Perhaps more importantly: WHY do they make the decisions they make? Understanding the psychology behind how and why of the decisions your customers make is critical for positioning your proposition as the best solution for their problem.

On today’s episode, I explain the psychological factors behind the corporate decision-making process and how to use it to produce more buying decisions. I explain how psychology - the customers and our own - guides us to make purchasing decisions and the connection between the customer’s tolerance to risk and their process for making a decision. I explain how the illusion of time can lead to a delay in the decision-making process and how to overcome this illusion by using the Backward Timetable strategy. I also explain how you can accelerate the relationship you want to develop with customers to drive faster decisions on your propositions.

“Lack of reassurance is the #1 reason people don’t make a decision.” - Steve Bookbinder

This week on Food For Thought Lunchbreak:

Identifying what does not encourage customers to make purchasing decisions
Why customers choose to delay the buying process
The psychological factors that impact the corporate decision-making process
The connection between the customer’s risk tolerance and their decision-making process
Identifying whether the customer is risk-averse or risk-tolerant and how you can use this information to make more sales
How to learn what your competitors missed when speaking with your customer and how this can help you learn how much risk the customer is comfortable with before making a decision
Comparing right-brain and left-brain thinking decision-making
What Emotional Amplification means
How to accelerate the relationship you want to develop with customers
How public opinion and rational impacts the corporate buyer’s decision
Helping customers rationalize their decision
How peer consensus impacts the buyer’s decision
How the illusion of time can often delay the buyer’s decision-making process
What a Backward Timetable is and how it addresses the psychological decision-delayers

4 Steps to Drive More Purchasing Decisions:

Learn the rationale of your best customers.
Learn the past buying pattern of every new prospect or customer contact you meet this week.
Try the Backward Timetable in a sales meeting - especially if there is fuzziness about timelines, due dates, or the use of loose language.
Lead by example.

It’s Time to Get More Sales

Thanks for tuning into this week’s episode of Food For Thought Lunchbreak with Steve Bookbinder. If you enjoyed this episode, head over to Apple Podcasts, subscribe to the show, and leave us an honest review. Don’t forget to follow us on Facebook, Twitter, and Instagram and share your favorite episodes on social media.

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Food For Thought Lunchbreak with Steve Bookbinder is produced by Auxbus. You can create your own great podcast - faster and easier - at Auxbus.com

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