The first idea is called scarcity. Anything that is perceived to be scarce is perceived to be worth much more than something that is readily abundant. Diamonds and gold are worth much more than air and water. This makes the demand, and the prices, much higher. An example is anytime you see the magic words, ‘supplies are limited, please hurry.’ As obvious as those are, they work. Consider using these in your business to create an idea of scarcity surrounding your products.
Another powerful influential factor is based on authority. People tend to believe those in authority with a much higher degree than some nameless guy on the street. You’ll see plenty of experts quoted in advertisements on TV. If you can get some authoritative comments or recommendations for your product or service, this will go a long way in increasing your sales.
One way to increase sales is by using the power of comparison. People perceive things much differently when they are next to something else than when they are alone. For example, one study showed how a restaurant increased sales of a twenty five dollar bottle of wine simply by listing it in the menu next to a hundred dollar bottle of wine. The twenty five dollar bottle seemed much more reasonable in price when compared to a hundred dollar bottle.
People generally behave in ways that are consistent with their previous behavior. You can leverage this part of human nature to help increase your sales. Just convince your customers that buying your product is consistent with their previous behavior. Generally, this takes a more personable approach, but it can be very powerful.
Although simple, these ideas can help you increase sales. They are based on psychology, which means that they are largely subconscious in the mind of your customers. They can easily help you increase sales, increase profits, and consistently grow your business.