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Leverage Loss Aversion to Drive Sales in an Economic Downturn

The current economic downturn has presented numerous challenges for businesses, with a significant decline in consumer spending and a general air of uncertainty. Sales professionals are now forced to adapt their techniques in order to survive and thrive in these tough times. Two psychological concepts, loss aversion and status quo bias, can provide valuable insights on how to approach selling in an economic downturn. By understanding these principles, you can develop strategies that tap into customers' emotions and boost your sales success

3 Types of Empathy to drive sales during economic downturn

To make sales in an ecomonic downturn we need to evolve some of the usual Value Based Selling approaches to become more in tune with the customer and demonstrate empathy to the situation.

What many people don’t know if that Empathy comes in 3 different ways:


Friend, Predator or Potential Lover

Friend, Predator or Potential Lover - these are the 3 options when people meet you for the first time! This is true across all media - whether it's an email, text message, phone call or face-to-face meeting. The challenge is that they take the minimum amount of data to come to a decision, hence they hang up, trash the email, or try to cut your interaction short.

If you want to learn more about how to maximise the chances...


How to build Distinctive Dominance is SaaS sales

How to build Distinctive Dominance. Product features and functionality is easily replicated so its hard to identify USPs but demonstrating a Distinctive Dominance in the mind of your customer will ensure you win more business and retain more customers.