Closing Skill-"People Buy with Emotions and Justify by Logic"

It is known fact: Majority of the deals get materialize after continuous follow-ups. It is said, it takes on an average 7 interactions before the deals gets materialized. It means every Sales Person should follow-up with the Prospects for at least seven times before removing them from Prospect Funnel List. Follow up activities within next 48 hours of Post Approach is very crucial. It is advised to be in connect with the Prospect by every means possible. Sales Person can send various useful information’s through SMS, WhatsApp Message, LinkedIn message, Fb messenger and Emails during the first 24 hours of Post Approach. This keeps the Sales Person’s image live in front of the Prospect and doesn’t fade away. Every information which could help the Prospect in taking the decision should be sent which helps in building the confidence and faith in the Prospect. With my hard core experience in Sales & Marketing, I can say, the biggest challenge for any Prospect is taking the decision to buy the product/service in question. The basic reason is our broad upbringing in the family in which our major decisions are taken by our parents and elders. This has been a very controversial subject from the beginning, but when I see the buying behavior of the customers and upon analyzing the details, this comes out very evident that Prospects need to be helped in taking the decision. There is always a fear of taking the wrong decision pinching them at the back of their mind. Even Prospect fear of getting cheated in the deal. There are various fear which arise in the mind of the Prospect and due to that they tend to procrastinate the decision. That is why it is very important to help the Prospect in taking the decision by building faith and confidence. More the information, better is the decision making. It is the myth that prospects should not be given more information or choices, because it makes them more confused. That’s not right. In fact, more the information, more clarity Prospects get and clarity leads to confidence. It is found that Testimonials plays a very important role in building the faith in the Prospect. It is good to have a Video of Testimonials shown to the Prospects, as Video makes them see and hear the comments of the buyers in video and can relate with them. Also there are various unanswered questions in the mind of the Prospect’s which gets answered automatically in the testimonial videos. Also Testimonial Videos helps in creating emotions in the Prospect, which is the prime factor of any decision making process. Because majority of the decision are taken emotionally. It is rightly quoted that “Prospects Buy on Emotions and Justify with Logic.” Hence it is very important to link the Product/services in such a way that it get them emotionally connected with the product/service and they themselves will justify their decision by signing the contract and paying for the deal.

Let me share with you my personal experience of how emotions play pivotal role in decision making. I was working as a Branch Manager with ICICI Bank. In Bank, along with other responsibilities, we were also responsible for generating the Revenue for the bank. Life Insurance was the highest revenue generation product and the lucrative part was that, the revenue was instantly reflected in branch books of account. This NRI client had already invested good amount of money in Life Insurance Product. One fine day, my NRI Relationship Manager came to me with the news that this NRI client is in India and want to have discussion about fresh Investment to be made. So I gave the appointment and we met in my cabin. This NRI client had funds coming yearly in his account which were Rent proceeding of his properties abroad. Again the Investment which he had done in various Life Insurance Plan were having maturity after 5 years and that would add to his fund flow to be invested again. While I was discussing with him, I noticed him being emotional about the beggars and poor people he saw in Mumbai streets and was looking forward to do something for the poor and needy in India. I suggested him to register a NGO firm in India and whatever proceeding he gets after the five years tenure from the fresh Investment, he can utilize it for the benefit of the poor and needy through that NGO and contribute back to the society this way. He was very impressed with this suggestion, and because he was emotionally involved, we could close the Investment deal and made a record in ICICI Bank of getting the highest single cheque invested by any Client. Till today, that record is intact. This is the power of emotion in decision making.