Why would you recommend doing this instead of that?
When we approach this challenge, we should consider the appropriate framework, methodology, and process. People strive to improve and excel in various areas, including sales acumen, however, what truly sets someone apart is their business argument. I think the key differentiator lies in possessing situational knowledge. It may be referred to as situational awareness or experience, but I prefer to call it situational knowledge because it signifies having encountered similar situations and observed different decisions and outcomes. Therefore, your understanding of the context in which the client operates becomes the basis for providing advice.
Shaping the future
As time goes on, an increasing number of business inquiries will shift towards behavioural and psychological aspects. I think this shift is due to the growing recognition that relying solely on past data to forecast future behaviour is becoming less reliable. Consequently, a significant portion of business inquiries will essentially transform into marketing questions, and as a result, it will become essential to give marketing a higher priority in the business hierarchy. The significance of marketing in terms of driving innovation and facilitating change has now been amplified by a factor of five.
Performance is important
Humans have developed the ability to make decisions based on selecting the option with the least catastrophic worst case scenario. This decision-making process involves taking a modular approach, addressing one stage at a time. Additionally, if a product can be easily reversed, removed, or sold, it becomes psychologically easier for the consumer, even if the product itself remains unchanged. I think in today's world, the role of marketers has become increasingly crucial and this demands that both their status and influence should be elevated. Understanding the desires, needs, motivations, and fears of consumers should be of paramount importance, it’s ten times more significant in 2023 compared to 2019, and the reasons for this heightened significance are widely known.
““It’s impossible for a man to learn what he thinks he already knows.””
Ask better questions
I think asking questions is a fundamental characteristic of brilliant thinkers as they understand that questioning allows them to explore new ideas, challenge assumptions, and gain a deeper understanding of the world around them. I also think asking questions pushes the boundaries of knowledge by identifying gaps, challenging assumptions, promoting critical thinking, stimulating curiosity, inspiring innovative solutions, and fostering collaboration. By constantly questioning, brilliant thinkers are able to expand the frontiers of knowledge and make significant advancements in their respective fields.
Evolved states of being
The person who exhibits the most kindness in a group often possesses great intelligence. When we encounter someone who differs from us in appearance, behaviour, love preferences, or lifestyle, our initial reaction tends to be either fear or judgment, and this response is rooted in our evolutionary history. As a species, we survived by being cautious of unfamiliar beings, and in order to display kindness, we must suppress this instinctual response and redirect our thinking. I think empathy and compassion are advanced emotional states that necessitate the ability to transcend our primal urges. Unfortunately, those in positions of power perceive empathy and kindness as weaknesses and view vulnerable individuals as mere stepping stones to further their own ambitions.
““People appreciate when you’re curious about them, rather than focusing on your own needs and what you can get from them.””
Adding value
In order to increase the likelihood of customers buying from you, it is crucial to shift your focus from your own world to theirs. Unfortunately, most salespersons tend to view the world solely through their own perspective, but there is a small percentage, around 1%, who understand the importance of seeing things from the customer's point of view. As a salesperson, it is essential to demonstrate that you perceive the world in the same way as your customers do. This can be achieved by adopting their language and phraseology, and by repeating the specific words they use, thus showing that you have truly listened. Additionally, mirroring their tone of voice, volume, and pace can also help establish a sense of comfort and connection. I think by being relatable to customers, they will feel more at ease with you, which in turn increases the likelihood of them making a purchase.
Elements of value
The value pyramid is usually represented in building blocks and fall into four different categories: functional, emotional, life-changing, and social impact. The elements of value pyramid are a marketing tool that identifies the key elements customers value when choosing to buy goods and services. I think organisations can leverage this tool to improve the customer experience, target specific psychographics, and increase their value proposition.
The self-discovery loop
The self-disclosure loop is a common occurrence in human interactions where individuals gradually disclose personal information, leading to a sense of connection and validation. When someone starts by sharing small bits of personal information, they may receive positive responses or validation from the listener. This positive feedback triggers the release of dopamine in the brain, creating a sense of pleasure and reinforcing the desire to continue sharing. As a result, the person may feel compelled to disclose more information, hoping for further validation or a deeper connection. I think that in certain instances where the self-disclosure loop reaches a point where the information shared becomes excessive or inappropriate for the context. This can leave the listener feeling uncomfortable or wondering why the person revealed such intimate details. It's crucial to maintain boundaries and respect the comfort levels of others as not everyone may feel comfortable with receiving extensive personal disclosures, especially in initial or casual interactions. Being aware of these dynamics can help individuals navigate conversations more effectively and foster meaningful connections without crossing into the "too much information" zone.
Good judgement
Understanding how to solve the environmental crisis and over consumption is through the knowledge that the human brain itself has quite a large marketing function. Everybody can acknowledge that the brain has an accounting function as it cares about the efficient use of resources. It also has all kinds of algorithms and heuristics that are in many cases innate and built in, but it also has a marketing function. It really cares about image and status, effectively what something you do means to other people. I think it’s very difficult to produce magic in the world of physics or engineering, you can genuinely perform magic with perception. And one of the cleverest reframing’s you can do is make it a choice not to compromise.
Stoic lessons
Five Stoic lessons from Epictetus:
1. Things don't upset us, it’s our judgment about things does.
2. You become what you give your attention to.
3. You can't learn what you think you already knew
4. To improve, be OK to be thought foolish
5. Stop waiting to demand the best for yourself
““People are not disturbed by things, but by the view they take of them.””
Catalyst for further transformations
We live in an ever-evolving world, change is constant. I think the preferences and behaviours of our customers have already changed, and will continue to change and change itself will drive even more change. Sales leaders need clarity on what and how customers are buying so that sales can adapt just as quickly – at every level.
A key question
Yesterday, I was asked a fantastic question: What change are you seeking to make?
I answered: This is a key question when working with clients to help them create personal development plans. If you are going to show up in person in real time, whether at an event or even making a presentation, you are performing. And I think our goal is not only to deliver information but also to deliver emotion with the purpose to cause a change in the people who are listening to you.
““You can’t build a reputation on what you are going to do, but you can build a solid reputation on doing what you say you will do.””
Happy Friday
Make the most of your time by:
Identifying your priorities (PLAN)
Eliminating distractions (FOCUS)
Delegating tasks (EMPOWER)
Taking breaks (REFRESH)
Reflecting on your progress (EVALUATE)
Signals of progress
Here are some skills that are highly sought after in various industries and have the potential to provide long-term financial benefits:
- Accountability
- Consistency
- Empathy
- Honesty
- Integrity
- Passion
- Perseverance
- Positive self-talk
- Self-confidence
I think possessing these skills can greatly enhance your professional life and increase your chances of financial success.
Exploring cognitive processes
In the practice of behavioural science, our goal is to identify the underlying reasons behind certain behaviours. We delve into the areas where economists may have missed the mark, recognising that in the realm of business success, it's not solely about being correct in every aspect. Rather, the key lies in discovering what your competitors have overlooked. I think it holds greater value to identify a commonly held assumption and challenge it, rather than aiming for universal correctness.
Words don't work
Persuasion is all about being able to win someone over to your way of thinking. To change someone’s thought process or behaviour. All stories are about change, yet it’s very difficult to get someone to change their mind as they have a very logical reason that they’ve built up over time. I mean they have valid reasons why they believe, both historical and cultural reasons why they believe what they believe. If I want to persuade you to accept my point of view, my story will have to move your brain away from the logical and towards an imagery and emotional experience. I think that when you temporarily suspend their logic it will create an opening for you to insert your new idea or new concept.
Don't glorify the past
Image c/o The New York Times
The concept of 'the data will tell you what to do' is an appealing notion to many individuals. We all know the old adage, “Nobody ever got fired for choosing IBM”, as the IBM products and services was the safe and conservative choice for companies and organisations. Making decisions based solely on objective information without subjective judgment or imagination may shield one from blame or potential consequences if things go wrong. All big data comes from the same place - the past! Therefore, if you rely excessively on historical data this can lead to dangerous future for yourself. Although this approach may work in the short term when tomorrow resembles yesterday, it becomes highly risky in the long term, especially when significant disruptions occur.
The emotional component of experience
What is value to your end consumers?
I think the value to the end consumers lies in the authentic meaning attached to a product or experience. In other words, rather than simply buying something for what it is, people buy what it means because that’s what generates an emotional response and provides genuine significance. This deep-down authenticity of motivation is particularly good news for smaller companies because it can give them the freedom to do something truly innovative and distinct. Nowadays, consumers are increasingly drawn to the intangible aspects of a transaction, I mean this is beyond the straightforward exchange of goods or services. And what makes meaning particularly valuable is that it doesn’t require substantial resources to produce compared to actual substances, making it a more sustainable and impactful element in business interactions. Contact me via e-mail to arrange “an intangible value” workshop for your organisation.
Comfortable decisions
There are only two ways you can make meaningfully make money. You can either find out what people want and work out a really clever way to make it or you can work out what you can make and find out a really clever way to make people want it. I think the most successful goods are a combination of the two, for example, (something totally unwanted becomes desirable due to the workings of marketing) - at the other extreme you have commodity goods that people want at the beginning and your job is simply to provide them as cheaply and efficiently as possible. Very few things lie at those extremes, most things are a combination of essentially understanding human needs and also understanding how you can present what you make in a way that makes it likeable. I think most really successful inventors and entrepreneurs are also great showmen and salesmen. For example, Steve Jobs, Elon Musk, Thomas Edison, they are people who not only know how to make clever things, but they also know how to sell them.
““There are only two things that add value, marketing and innovation, everything else is a cost.” ”
Use numbers for support
Nobody questions you when you use numbers and data to back things up. In the business world, if you present any information in numerical form everyone will nod along and it usually is verified. For example, during a sales presentation, when you showcase statistics highlighting the market share your product has gained, the audience becomes more receptive and inclined to believe in the success of your offering. The data-driven approach helps to instills confidence and encourages potential clients to make purchasing decisions.