Entrepreneurship and the Psychology of Sales
Business owners need to understand some of the psychology behind what leads a customer to close a sale, says Hanna Kassis, founder and CEO of Oarex Capital Markets Inc.
The two elements to the psychology of a sale include the actual sales psychology – the one-on-one with the customer – as well as the psychology behind the marketing, he says.
“In my career, Oarex funds digital marketers, advertisers, publishers. People that are at the bleeding edge of advertising technology,” he says. “In order to be successful in that business, they have to understand the psychology behind the advertising.”
When crafting their messaging, Kassis advises businesses to consider the Life Force 8, which include the survival and enjoyment of life, enjoyment of food and beverages, freedom from fear and pain, sexual companionship, comfortable living conditions, “keeping up with the Joneses,” care and protection of loved ones, and social approval.
If the Life Force 8 doesn’t work, learned desires such as getting a bargain, cleanliness and being informed are also good ways to start, he notes.
Color also plays an important role. Complementary colors draw the eye and create a pleasing sense, he explains. To make it simple, Kassis demonstrates an online tool business owners can use to select their color scheme for logos and websites.
“You want to always have complementary colors on your website with the secondary color being a call-to-action,” he says. “What it does psychologically is it draws the eye. The rods and cones in the eye are attracted to opposing colors. So it leads to action on a website.”
For more insight from Kassis and the psychology of the sale and when to seek the expertise of professional marketing agencies, watch the video above.
Copyright 2023 The Business Journal, Youngstown, Ohio.