How I closed 25K USD deal in 30 secs with Psychological Trick
I read a Harvard article about human psychology and helped me close the deal.
I am super interested in human psychology. I read a Harvard article about psychology and it helped me close a 25K USD deal in 30 secs. But how? Let me tell you the real deal story in my sales career. Let’s go!
I was negotiating with a client for a 25K USD deal. I followed up for 3 weeks for the 50 pcs purchase order. I was on the call with a client. Now the client was in doubt that they don’t need this quantity of products in a short term. So the client told me they don’t plan to buy 50 pcs products now, they just need 25 pcs for now. It means that I was losing half of the deal. I knew my client’s business as well as him. I knew that he will need this quantity in the near future. I tried to explain to him all aspects of his operations around our product in his way (empathy matters) and tried to convince him by giving options. The one option was: If he doesn’t use all products that he keeps stock, he could return the unused ones back to me. I would refund them. But he was still not convinced. The last option was to talk about the price point. Because he gets better prices for 50 pcs order. But before that, suddenly the small negotiation trick that I learned from a Harvard human psychology article came up to my mind. What was that?
Highlight losses rather than gains.
People are more motivated to avoid losses than they are to achieve gains.
Because losses weigh heavily on our minds, framing the exact same price as a loss likely will have a greater effect than framing it as gain.
Bingo. I said to my client on the call “If you order 25pcs now instead of our first deal 50 pcs purchase order, you will lose 2500 USD by getting a higher price per unit based on 25 pcs order quotation. You will still need a total of 50 pcs products in the near future. Buy 50 pcs now, and do not lose your 2500 USD. I am thinking the best for you.”
This is a really important point: I didn’t say “YOU SAVE”, I said “YOU WILL LOSE"
AHA moment did clear to his mind in 10 secs. He said back to me “Furkan, you’re damn right! I will go for 50 pcs order now and please proceed it now.”
Hell yes, I nailed it! I closed the deal. My client did not lose that money and he needed all those products in the 3-month time frame. He was happy, I was happy. This is why I love sales so much, my job.
Understanding human psychology in sales is a superpower. This is the best real-life proof you can get and apply to your biz. Get better at human psychology. As I always say in sales; This is not B2B (Business to Business). This is B2H (Business to Human) We are all human. This is also a short story of why I branded my agency name: B2H
This is the real-life negotiation story from my sales career, a useful Harvard article made me close a 25K USD deal in 30 secs. Keep learning and experimenting!
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Till the next week, take care.
Furkan