Money Emotion!

Brother...can you spare a dime?

 

Back during the years of the depression, a dime might actually buy something...a cup of coffee perhaps.  People where holding onto their dimes...it must have been a tough time.

 

Today, it might be brother can you spare $4.85...Inflation...and Starbucks!

 

The depression created an money crisis in America and ...the most recent 2008 global meltdown did, too.  Can you remember how you felt during those times of tumultuous stock market swings, threats of massive unemployment, and "too big to fail" bailouts?

 

There is a saying about tough economic times;

 

"Recession is when your neighbor loses his job...depression is when you lose yours".

Ronald Reagan

 

Emotions were at an all time high (or low)...

 

Money Emotions.

 

Money emotions are behind every dollar that you spend...and the dollars you want your clients to spend. 

 

You many not even be conscious of your money emotions, but they are there.  The more you understand about what "triggers" a money spending mindset, the better you will be in the profession of sales.

 

I work in an industry where the most popular product is "zero premium"...(we aren't allowed to say "free").  For many of you around the world reading this, that is hard to fathom, but for those that sell this product...you understand.

 

The sales person has great confidence, swagger even, during the demonstratation of this "zero premium" product.  It truly solves many uncovered needs and even provides "bells and whistles".  The client begins to hear all the features and benefits and with arms akimbo (been waiting to use that word!) ask...

 

"How much is this"?

 

The sales person proudly states,

 

"Zero premium".

 

By way of enrollment statistics, 30% of the populations says, "sign me up"! 

 

The other 70% need and want something else.  The challenge...

 

The agent doesn't know how to sell the other products...largely because they DO require a monthly plan premium...a car note in most cases!  They have walked in the home with a one track mind...and their mind was on...

 

Zero.

 

What about you?  Do you sell the least expensive product your company offers because it is a safe "fall back" position?  Do you feel strange asking for the higher amounts?

 

In some respects, that is likely money emotion working in reverse.  You "engraft" your emotions unto your clients...

 

"No one in their right mind would pay $$$ for this..."

You begin to rationalize why no one will buy it and as a result, you don't offer it, or you don't offer it with the kind of conviction it takes to compel your prospective client to buy.

 

Certainly, you have to believe in what you are selling, but you also have to believe there are people out there who need and want what you are selling.   

 

The key to getting the right sale is helping them (and you!) feel the best...

 

Money Emotion!

 

Until tomorrow, I wish you Money, Power, Success!

 

Next Time: Happy Money!